3M Will Spin Off Its Health Care Business Into a New Public Company

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

The new business will focus on wound and oral care, healthcare IT and biopharma filtration, the material science company. That includes products like its bandages, skin adhesives, oral aligners, air purifiers and optical lenses. 3M health care products reported more than $8 billion in sales in 2021. The transaction is expected to be completed by the end of next year.and is expected to be divested by September.

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