Healthcare company begins stock trading

01 April 2024

Solventum has announced that its spin-off from 3M is complete. The newly independent healthcare company will begin trading on the New York Stock Exchange (NYSE) under the ticker symbol “SOLV.”

By pioneering game-changing innovations at the intersection of health, material and data science, Solventum is advancing solutions that change patients’ lives for the better — while empowering healthcare professionals to perform at their best.   

Bryan Hanson, chief executive officer of Solventum, said, “Today Solventum marks our first day as a publicly traded company and dedicated global healthcare leader. 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.”

The Solventum business had sales of $8.2bn in 2023 while part of 3M and is made up of 22,000 employees led by Bryan Hanson as chief executive officer, Wayde McMillan as chief financial officer and Carrie Cox as board chair.

Bryan added,“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.”

Solventum is a proven global leader in large, diverse and growing markets and is well positioned for success with a diverse portfolio of strong, trusted, reputable brands and deep innovation capabilities. Solventum solutions span across four business segments – medical surgical, dental solutions, health information systems and purification and filtration.

Solventum solutions are relied on everyday within the global healthcare industry, and ultimately contribute to higher-quality patient care, more efficient processes and workflow, and improved standards of safety and accuracy. For example, Solventum products have been used in over two billion dental restoration procedures worldwide. By listening to healthcare providers and patients, Solventum will continue to find new ways to achieve positive health outcomes and more efficient care.

Bryan and members of the Solventum Leadership Team will celebrate by ringing the Opening Bell at the NYSE on April 3, 2023.