Minnesota-based manufacturer 3M announced that it will separate its healthcare division, which includes oral care, into a separate spinoff business.
Its new standalone healthcare business will focus on oral care, wound care, healthcare information technology, and biopharma filtration. The tax-free transaction is expected to close by the end of 2023. 3M's healthcare sector generated approximately $8.6 billion in sales in 2021, according to the company.
