3M will transform its healthcare business into a new public company
The 3M logo is seen on the hood of the Versaflo TR-300+ powered air purifier mask as Nurse Evan Brost puts on personal protective equipment (PPE) before entering the ward in a patient hangar wing due to coronavirus (COVID-19) at UW Medical College Hospital in Madison, Wisconsin, United States November 18, 2020.
Daniel Acker | Reuters
3M announced Tuesday that it will turn its healthcare business into a separate publicly traded company.
New businesses will focus on wound and oral care, healthcare IT and biofiltration, materials science companies said in a release. That includes products like bandages, skin adhesives, mouth straighteners, air purifiers, and optical lenses.
3M’s healthcare products reported more than $8 billion in revenue in 2021. The transaction is expected to close by the end of next year.
This announcement comes as 3M is also shutting down its food safety business. That branch will merge with Neogen and is expected to divest in September.
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