Will 3M spin off its health care business?

ST. PAUL, Minn., July 26, 2022 / PRNewswire / -- 3M (NYSE: MMM) today announced its intent to spin off its Health Care business, resulting in two world-class public companies well positioned to pursue their respective growth plans.

When did MMM spin off the healthcare business?

This article was corrected at 8:56 a.m. ET because it incorrectly said the plan to spin off the healthcare business was unveiled in June. In July 2022, MMM unveiled plans to spin off the healthcare business.

What is the difference between 3m & health care?

The New 3M will remain a leading global material science innovator serving customers across a range of industrial and consumer end markets, and Health Care will be a leading global diversified healthcare technology company focused on wound care, healthcare IT, oral care, and biopharma filtration.

What do 3M's plans mean for GE Healthcare?

Let's look at 3M's plans and what they mean for the investment case for the stock. A tax-free spinoff of the healthcare business by the end of 2023, creating two new companies, the healthcare business and "New 3M." New 3M will retain a 19.9% stake in healthcare, which will be sold over time -- GE has the same plan for GE Healthcare.