3M plans to spin out $8.5B healthcare division into its own company
While its name brings to mind sticky notes and packaging tape, 3M also manufactures a range of consumer and commercial products from bandages to biomedical purification systems. Now the manufacturer plans to spin out its healthcare products division into a separate publicly traded company.
The Minnesota-based manufacturer announced last week that it plans to continue in the material science sector, focused on making products related to wound care, healthcare IT, oral care and biopharma filtration. In the biopharma industry, 3M’s products are used in the manufacturing of vaccines and recombinant proteins.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.