3M announced today that Jeff Lavers, group president of its Health Care Business Group, intends to depart the company. The departure of Lavers — which goes into effect on Dec. 1 — arrives in conjunction with the company’s planned Health Care spinoff. 3M said last month that it expects to complete that spinoff in early […]
3M Health Care
3M Health Care spinoff expected in early 2024
3M expects to complete the spinoff of its healthcare business during the first half of 2024. During 3M’s Q3 earnings call today, CEO Mike Roman said the spinoff is progressing. He mentioned the previous news of leadership hires for the new stand-alone company, including former Zimmer Biomet CEO Bryan Hanson as CEO and former Humacyte […]
Insulet CFO departs for same post at 3M’s Health Care spinoff
Insulet announced today that Wayde McMillan decided to leave his role as EVP, CFO and treasurer. McMillan’s departure goes into effect on Oct. 20, 2023. He intends to join 3M as CFO of its Health Care business, which the company expects to spin off late this year or early next year. President and CEO Jim […]
3M is reportedly close to reaching an earplugs lawsuit settlement
3M is nearing a settlement with attorneys representing hundreds of thousands of veterans who say the company’s earplugs failed to protect them from hearing loss, according to media reports citing people close to the discussions. Bloomberg News and The Wall Street Journal say the manufacturing giant would pay $5.5 billion under the tentative deal. Experts […]
Zimmer Biomet CEO leaves to take over another big medtech
Bryan Hanson has left the corner office of ortho tech giant Zimmer Biomet to become CEO of the soon-to-be-independent healthcare business at 3M, the companies announced today. Hanson takes over 3M’s healthcare business on Sept. 1. “I have a deep respect and admiration for what 3M has built in health care — strong brands, quality […]
3M faces more hurdles over earplug lawsuits strategy
Lawyers representing present and former U.S. military members want a U.S. bankruptcy judge to dismiss 3M subsidiary Aearo Technologies’ Chapter 11 filing. The tort claimants committee filed a motion to dismiss in U.S. Bankruptcy Court in Southern Indiana on Feb. 3. They’ve long claimed that having Aearo file for bankruptcy was a strategy to deny […]
3M’s V.A.C. Therapy hits 2,000 medical journal studies mark
3M (NYSE:MMM) Healthcare’s Medical Solutions Division announced the surpassing of 2,000 published studies for its V.A.C. Therapy. Maplewood, Minnesota-based 3M’s V.A.C. delivers negative pressure wound therapy (NPWT). The company said it’s the only NPWT tech to hit the milestone of 2,000 published, peer-reviewed medical journal studies. According to a news release, V.A.C. therapy accounts for […]
3M announces upgrades to wound therapy tech
The 3M (NYSE:MMM) Health Care’s medical solutions business announced upgrades to advance the delivery of certain wound care technologies. A new 3M Veraflo Cleans Choice Complete dressing kit and a software upgrade for the 3M VAC Ulta therapy unit were introduced at no increased cost to the customer. 3M said in a news release that […]
3M Health Care to become standalone company
3M (NYSE: MMM) announced today that it plans to spin off its Health Care business by the end of 2023. The new Health Care business will be a roughly $9-billion-a-year company focusing on wound care, oral care, healthcare IT and biopharma filtration. 3M officials argue that the transaction will better position Health Care to innovate. […]