3M Rebrands its Healthcare Unit as ‘Solventum’ following Spinoff Decision

Revealing the news, the company said the new name ‘Solventum’ originates from two words "solving" and "momentum", symbolising breakthrough solutions and swifter innovation.

US-based conglomerate 3M has rebranded its independent healthcare business as ‘Solventum’, following its spinoff decision. However, the spinoff is expected to be completed in the first half of 2024.

Last year, 3M disclosed its plan to spinoff its healthcare business into a listed company, in which the US industrial giant would retain a 19.9% stake.

Revealing the news, the company said the new name ‘Solventum’ originates from two words "solving" and "momentum", symbolising breakthrough solutions and swifter innovation.

Reportedly, the new name and branding will go into effect when the spinoff of the independent healthcare company occurs which is subject to final approval by 3M's board of directors and other required conditions.

Until the spinoff completes, the healthcare business continues to be part of 3M and governed by the policies and procedures of 3M.

Sharing his views, Bryan Hanson, CEO, 3M Health Care Business Group, said "As we build this new company, Solventum will embody our mission of enabling better, smarter, safer health care to improve lives. 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 term "Momentum" symbolises swifter, nimbler innovation. Now, as Solventum, the company emphasises its focus on tackling significant healthcare challenges and making a substantial impact on the world.

Founded in 1902, 3M, was originally known as Minnesota Mining and Manufacturing Company. The company was started by five entrepreneurs: Dr J Danley Budd, Henry S Bryan, William A McGonagle, John Dwan, and Hermon W Cable.

Today, 3M is a global company that aims to improve the daily lives of people around the world with its products. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products among others.

3M's Health Care Business will continue to focus on markets such as wound care, healthcare IT, oral care, filtration and purification. In 2022, it reported about $8.4 billion in sales.

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