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3M Finalizes Healthcare Spinoff

3M has successfully completed the planned spin-off of the company’s healthcare business, formally launching Solventum Corp. as an independent company.

According to a press release, holders of 3M common stock received one share of Solventum common stock for every four shares of 3M common stock held at the close of business on March 18, the record date for the distribution. 3M retained 19.9% of the outstanding shares of Solventum common stock, which will be monetized within five years following the spin-off.

“This is an important day for 3M and Solventum, and I extend my sincere congratulations to members of both teams who have made this possible,” said Mike Roman, 3M chairman and CEO. “Both companies are positioned to pursue their respective growth and tailored capital allocation plans, and I am excited to see both companies succeed as they innovate new solutions and create value for their respective stakeholders.”

About 3M
With global sales of US$32.7 billion, 3M is a leading producer of thousands of products ranging from chemicals, filtration systems, and safety and protection equipment to office, graphics, and healthcare equipment. For more information, visit 3M.com.