Earnings

3M will spin off its health-care business into a new public company

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3M announced Tuesday it will spin off its health-care business into a separate publicly traded company.

The new business will focus on wound and oral care, health-care IT and biopharma filtration, the material science company said in a release. That includes products like its bandages, skin adhesives, oral aligners, air purifiers and optical lenses.

The company’s health-care products also include the Bair Hugger surgical warming system, which is currently the subject of nearly 6,000 lawsuits. 3M maintains that the product has no relation to surgical-site infections.

3M health-care products recorded more than $8 billion in sales in 2021. The transaction is expected to be completed by the end…



Source cnbc.com

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