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On July 26, 2022, 3M announced that it would spin off its healthcare division as a separate company to streamline operations. The new company would assume 3M's business in wound and oral care, health informatics, and biopharmaceutical filtration. [2] The sales of products in these fields accounted for about a quarter of 3M's total sales in 2021 ...
When 3M announced the spinoff in summer 2022, the company had planned for its completion by the end of last year. The April 1 date is still subject to 3M board approval and other conditions, the ...
In July 2022, the company announced it would spin off its healthcare assets to form a new, independent firm, likely completing the transaction in 2023. [62] 3M will retain an ownership stake of 19.9% in the new, publicly-traded health care company and gradually divest the holdings. [62] [63] The company will be known as Solventum Corporation. [64]
3M disclosed plans to spin off its healthcare business into a listed company last year, in which the U.S. industrial giant would retain a 19.9% stake. The plan came amid litigations from military ...
Spin-off entity Transaction value (in billions USD) Inflation adjusted (in billions 2022 USD) Ref 1 2024 General Electric Company: GE Aerospace, GE Vernova, GE Healthcare: 191 191 [1] 2 2008 Altria Group: Philip Morris International: 108 141 [2] [3] 3 2000 BCE: Nortel: 60 97 [3] 4 2013 Abbott Laboratories: AbbVie: 56 67 [3] 5 2015 eBay: PayPal ...
The healthcare spinoff looks cheap, but there are some big hurdles it has to clear. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ...
The company was founded in 1996 under its original name of Imation as a spin-off of 3M's data storage and imaging business. Prior to the name change, Imation had three core elements: traditional storage ( magnetic tape and optical products ), secure and scalable storage (data backup, data archive and data security for small and medium ...
3M is poised to raise $7 billion from the spinoff of its health care division later this year, with the proceeds largely paying down recent legal settlements. ... Maplewood-based 3M is expected to ...