The New 3M, with US$26.8 billion in sales in 2021, will remain a global material science innovator serving customers across a range of industrial and consumer end markets, while the standalone Health Care business, with 2021 sales of approximately US$8.61 billion, will be a global diversified healthcare technology company focused on wound care, healthcare IT, oral care, and biopharma filtration.
"The decision to spin off our Health Care business will result in two well-capitalized, world-class companies, well positioned to pursue their respective priorities," said 3M chairman and CEO Mike Roman.
The transaction is expected to be completed by year-end 2023.
