Skip to content

3M Spins Off Healthcare Business Solventum


3M recently completed the spinoff of its healthcare technology business as the new standalone public company, Solventum Corporation.  Solventum has an IP portfolio with over 7,300 patents globally.

Solventum operates across 38 countries and has approximately 22,000 employees worldwide.  Its business spans across four segments: Medical Surgical, Dental Solutions, Health Information Systems, and Purification and Filtration.  Solventum estimates that its products “have been used in over two billion dental restoration procedures worldwide,” are used to “treat 1.6 million hard-to-heal wounds annually,” and are used “in more than 25 million life-saving dialysis treatments” annually.

In 2023, while still part of 3M, over half of Solventum’s $8.2 billion in sales came from its Medical Surgical business segment.  This business segment is a provider of various medical solutions, including advanced wound care, surgical supplies, stethoscopes, and more.  For example, Solventum offers negative pressure wound therapy products, with devices that range from durable units with multiple therapy modalities to disposable and portable options.

Solventum serves a global market with approximately $93 billion in 2022 industry sales.  Solventum anticipates that this market will grow 4-6% annually from 2024 through 2026.  In 2023, the Solventum business generated 56% of its total revenues from the United States and 44% from international sources.  Discussing the spinoff, Solventum CEO Bryan Hanson said, “We’re a new company with a long legacy of creating breakthrough solutions that solve our customers’ toughest challenges.  Solventum colleagues worldwide are united in our mission to enable better, smarter, safer healthcare to improve lives.”  And according to Hanson, “Solventum is now better positioned to create long-term value for shareholders through a greater focus on our core business, an enhanced ability to execute on industry-specific growth and market strategies and tailored capital allocation strategies.”


, , , , , , , ,

3M Spins Off Healthcare Business Solventum Headshot

Isabella Pestana

Isabella Pestana is an associate in our Orange County office. Isabella helps clients with a variety of intellectual property matters, including patent and trademark litigation. Isabella received her J.D. degree from the University of California, Berkeley, where she also completed the requirements to receive the Law and Technology Certificate. While attending law school, Isabella worked as an Articles Editor and Commentaries Editor for the Berkeley Law and Technology Journal and engaged in pro bono work as a member of the Samuelson Law, Technology, & Public Policy Clinic. Before attending law school, Isabella received her B.S. degree in Chemical Engineering (Biomolecular Track) from the California Institute of Technology (Caltech). During her time at Caltech, Isabella worked as an undergraduate researcher in the Kornfield Lab and completed her senior thesis in the area of bio and bio-medical materials. Isabella worked as a summer associate with the firm in 2022 and joined the firm in 2023.

View all posts published by Isabella Pestana
By using this blog, you agree and understand that no information is being provided in the context of any attorney-client relationship. You further agree and understand that nothing herein is intended to be legal advice. This blog is solely informational in nature, and is not intended as, and should not be used as, a substitute for competent legal advice from a retained and licensed attorney in your state. Knobbe Martens LLP makes no representations or warranties as to the accuracy, completeness, timeliness or availability of the information in this blog. Knobbe Martens LLP will not be liable for any injury or damages relating to your use of, or access to, any such information. Knobbe Martens LLP undertakes no obligation to correct or update information on this blog, which may be incorrect or become incorrect or out of date over time. Knobbe Martens LLP reserves the right to alter or delete content or information on the blog at any time. This blog contains links and references to other websites and publications that you may find of interest. Knobbe Martens LLP does not control, promote, endorse or otherwise have any affiliation with any other websites or publications unless those websites or publications expressly state such an affiliation. Knobbe Martens LLP further has no responsibility for, and makes no representations regarding, the content, accuracy or any other aspect of the information in such websites or publications.
close modal