3M recently revealed that Solventum is the name of its new planned, independent healthcare spin-off company.
Solventum originates from two words: “solving” and “momentum,” the company said in a Nov. 16 press statement announcing the spin-off’s new name. The name captures the essence of the company’s commitment to finding breakthrough solutions and its focus on swift, nimble innovation.
“This is another significant milestone on the path to building two-world class companies, 3M and Solventum,” said Mike Roman, 3M chairman and CEO. “We continue to prepare for the spin-off, and we’re committed to driving long-term value for shareholders.”
For more than 70 years, 3M’s Health Care Business has been trusted by countless customers to solve their critical needs with quality and high-performing solutions rooted in science.
“As we build this new company, Solventum will embody our mission of enabling better, smarter, safer health care to improve lives,” said Bryan Hanson, CEO, 3M Health Care Business Group. “The name signifies who we are as a team – problem solvers who create innovative solutions that touch millions of lives, transform the patient experience and save time for health care professionals.”
The new name and branding will take effect when the spin-off of the independent health care company occurs, which is expected in the first half of 2024, subject to final approval by 3M’s Board of Directors and other required conditions. Until the spin-off, the Health Care Business continues to be part of 3M and governed by the policies and procedures of 3M.
3M’s Health Care Business will continue to focus on markets such as: wound care, health care IT, oral care, filtration and purification, which resulted in $8.4 billion in sales in 2022.
A website with further information about the spin-off can be found at 3m.com/Solventum.