February 2024- 3M announced the filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) for the planned spin-off of its healthcare business as the newly independent healthcare company Solventum.
Solventum is anticipated to spin off from 3M on April 1, 2024, subject to final approval from the 3M Board of Directors and other required conditions. It has applied to be listed on the New York Stock Exchange as “SOLV”. Solventum had sales of $8.2 billion in 2023 and will include more than 20,000 employees led by Bryan Hanson as Chief Executive Officer, Wayde McMillan as Chief Financial Officer, and Carrie Cox as Board Chair.
In addition, Solventum plans to host an Investor Day in New York City on Tuesday, March 19, 2024, at 9:00 a.m. Eastern Time. Hanson and McMillan will be joined by members of Solventum’s leadership team to provide an overview of the business and outline opportunities for value creation in advance of its planned spin from 3M. The event will include formal presentations and a Q&A session with leadership. Information on registering for in-person attendance will be provided in the coming weeks.
A simultaneous webcast and replay of Solventum’s presentation will be available on 3M’s website at https://investors.3m.com/health-care-spin-off-resources. An archive of the webcast will also be available on the Company’s website after the live event concludes.
