Solventum revealed as name for 3M’s healthcare spin-off

Mon. 27. November 2023

save

ST. PAUL, Minn., US: 3M has announced that Solventum will be the name of the planned independent healthcare company that will be formed from a spin-off of the multinational’s healthcare portfolio. Subject to approval, the spin-off is expected to take place in the first half of 2024 and to result in the formation of a new healthcare company. This company will continue to focus on 3M’s current healthcare business areas, which include wound care, healthcare information technology and oral care.

Solventum is a portmanteau of the words “solving” and “momentum”. “Solving” captures the company’s dedication to finding breakthrough solutions, and the new company will listen closely to healthcare professionals and focus on solving problems for them. “Momentum” symbolises swifter, nimbler innovation. As the independent healthcare company builds on its achievements, large and small, its momentum will propel it past barriers and towards breakthroughs. The new name represents how the independent healthcare company will focus on solving major healthcare challenges and emphasises the tremendous impact it can make on the world. Furthermore, it describes the spirit and motivation of the more than 20,000 problem-solving professionals who will work to shape the future of health.

“This is another significant milestone on the path to building two world-class companies, 3M and Solventum,” commented 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,” he added.

3M has also revealed the Solventum logo, which takes inspiration from the future company’s drive to never stop solving problems for patients and healthcare professionals. By transforming the letter “S” from the name into an expressive symbol of limitlessness, it aims to convey the responsive, imaginative and caring approach that the company will take in problem-solving.

For more than 70 years, 3M’s healthcare business has been offering quality and high-performing solutions rooted in science, and its sales totalled US$8.4 billion (€7.9 billion) in 2022.

“As we build this new company, Solventum will embody our mission of enabling better, smarter, safer healthcare to improve lives,” said Bryan Hanson, CEO of 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 healthcare professionals,” he added.

The spin-off is subject to final approval by 3M’s board of directors and needs to meet other required conditions; however, the new name and branding are expected to take effect in the first half of 2024.

Further information about the spin-off can be found on 3M’s website.