DOTmed April 5, 2024
3M has completed the spinoff of its healthcare business into a separate company named Solventum Corporation, valued at over $8 billion.
In the works since 2022, the newly independent business will oversee the development of solutions in wound care, healthcare IT, oral care, and biopharma filtration. It is now listed on the New York Stock Exchange under SOLV.
The decision to break off its healthcare division stemmed from a desire to better tailor capital allocations, invest in growing areas of interest, and appeal to more diverse investors in the medical space, said 3M.
“Both companies are positioned to pursue their respective growth and tailored capital allocation plans, and I am excited to see both companies succeed as they innovate new...
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