3M board approves spin-off of Solventum

3M’s board of directors has approved the planned spin-off of its Health Care business, which will be known as Solventum Corporation.

Image © eyetronic - stock.adobe.com.

The company is anticipated to spin off from 3M on 1 April 2024, and has applied to list on the New York Stock Exchange as "SOLV."

Solventum will be organized into four operating business segments aligned to the markets served, including Medical Surgical (MedSurg); Dental Solutions; Health Information Systems: and Purification & Filtration.

The Purification & Filtration business will provide filters and membranes intended for life-saving biopharmaceuticals, vaccines, and medical treatments.