By Will Feuer

 

3M Co. said it will spin off its health-care business, the latest conglomerate to make plans to split itself up.

The new standalone health-care business, with 2021 sales of about $8.6 billion, will focus on growth, the company said.

3M said it expects to retain a stake of 19.9% in the standalone health-care business, which will be monetized over time, the company said.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

July 26, 2022 06:52 ET (10:52 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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