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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 ...
[5] 3M itself sold its food safety business to Neogen in September 2022. [2] On January 24, 2023, the health care business was registered as a corporation in Delaware under the provisional name "3M Health Care Co.". [7] On November 16, 2023, 3M unveiled that the new company would be called Solventum, a portmanteau of the words "solving" and ...
Acelity began as Kinetic Concepts Inc., a medical technology company founded in 1976 by Dr. Jim Leininger, an emergency room physician in San Antonio, Texas. [4] Over time, the company developed or acquired a line of therapeutic specialty beds, introducing a specialty bed for acute care patients with pulmonary complications. [5]
The Texas two-step allows solvent companies to shield their assets from litigants using protections that are normally reserved for bankrupt companies. [1] The goal of a Texas two-step is for the parent company to gain a third-party release of all liabilities it assigned to its spinoff, thus preventing litigants from pursuing those claims ...
(The Center Square) – Texas has filed a lawsuit against several large chemical companies alleging they manufacture toxic forever chemicals used in products marketed as safe for families. Texas ...
3M last year disclosed plans to spin off its healthcare business into a listed company, in which the U.S. industrial giant would retain a 19.9% stake. The health care unit, which focuses on wound ...
On April 8, 2002, 3M's 100th anniversary, the company changed its legal name to "3M Company". [ 42 ] [ 43 ] On September 8, 2008, 3M announced an agreement to acquire Meguiar's, a car-care products company that was family-owned for over a century. [ 44 ]
The "Texas two-step" strategy takes advantage of state laws that allow for the transfer of liabilities through a so-called divisive merger, which is a way to separate a company's operations into ...