On Tuesday, US group 3M officially launched the IPO process for Solventum, its healthcare products subsidiary, which will make its debut on Wall Street on April 1.

At a meeting with investors in New York, the industrial conglomerate explained that the demerger would enable Solventum to accelerate growth, improve margins, increase cash flow and invest in the most promising segments.

For 2024, Solventum forecasts organic growth of between -2% and 0%, with adjusted earnings per share (EPS) of between $6.10 and $6.40.

Free cash flow is expected to be between $700 and $800 million this year.

Solventum brings together 3M's businesses in biopharmaceutical purification, dental care (adhesives and cements), healthcare cleaning and food safety, among others.

Its name comes from the contraction of two English words, 'solving' and 'momentum'.

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