3M announced Solventum will be the name of the planned, independent health care company following its spin-off.
Solventum originates from two words: “solving” and “momentum.” “Solving” captures the company’s dedication to finding breakthrough solutions. The organization will listen closely to health care professionals and never stop solving for them — and the many lives they enhance globally. “Momentum” symbolizes swifter, nimbler innovation. As the independent health care company builds on every achievement, large and small, its momentum propels it past barriers, towards breakthroughs. The new name represents how the independent health care company will focus on solving big health care challenges and emphasizes the tremendous impact it can make on the world.
The name, Solventum, captures the spirit of the independent health care company and what motivates its more than 20,000 problem-solving professionals who work tirelessly every day to shape the future of health. The new logo takes inspiration from the future company’s drive to never stop solving and transforms the “S” from the name into an expressive symbol of limitlessness. It conveys the responsive, imaginative and caring approach the company will take in solving for patients and health care professionals.
Also Read: Jim Scanlon Named President of Radiance Technologies, Inc.
“This is another significant milestone on the path to building two-world class companies, 3M and Solventum,” said Mike Roman, 3M chairman and chief executive officer. “We continue to prepare for the spin-off, and we’re committed to driving long-term value for shareholders.”
For more than 70 years, 3M’s Health Care Business has been trusted by countless customers to solve their critical needs with quality and high-performing solutions rooted in science.
“As we build this new company, Solventum will embody our mission of enabling better, smarter, safer health care to improve lives,” said Bryan Hanson, chief executive officer, 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 health care professionals.”
The new name and branding will go into effect when the spin-off of the independent health care company occurs, which is expected in the first half of 2024, subject to final approval by 3M’s Board of Directors and other required conditions. Until the spin-off, the Health Care Business continues to be part of 3M and governed by the policies and procedures of 3M.
3M’s Health Care Business will continue to focus on markets such as: wound care, health care IT, oral care, filtration and purification, which resulted in $8.4 billion in sales in 2022.
SOURCE: News3m