Becton, Dickinson & Co. today named Dr. Ronald “Ron” Silverman as EVP and chief medical officer. He replaces BD Chief Medical Officer Dr. William Sigmund, who announced plans to retire from BD earlier this year. The change takes effect Dec. 4, 2023. Silverman comes from 3M Health Care, where he served as SVP and chief medical […]
3m
3M has a name for its healthcare business spinoff
3M today announced a name for its healthcare business spinoff, which the manufacturing giant expects to complete during the first half of 2024. What has been 3M Health Care will now be called Solventum. Here’s how 3M explained the name in its news release: “Solventum originates from two words: ‘solving’ and ‘momentum.’ ‘Solving’ captures the […]
3M Health Care Group president is leaving ahead of spinoff
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 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 […]
How can medtech companies innovate their business models?
In an ever-changing medtech space, how do companies keep up with the pace of change? How do companies adjust and innovate their business models to reflect that? Leaders from some of medtech’s biggest names attempted to answer some questions around that at AdvaMed’s The MedTech Conference yesterday. (Want to find out more? Leaders from major […]
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 announces $6 billion earplugs settlement
3M today announced that it will pay $6 billion in cash and stock for the rest of the decade to resolve hundreds of thousands of veterans lawsuits over faulty earplugs. Bloomberg News and The Wall Street Journal previously reported that 3M was close to reaching a settlement. The agreement with negotiating plaintiffs’ attorneys has the […]
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 to name CEO for Health Care spinoff soon
3M officials say they remain on track to spin off the company’s Health Care business by late 2023 or early 2024. “We’ve made good progress on our planned spin of our Health Care business, including regulatory filings and system updates in preparation for a soft spin [in November]. We’re also in the final steps of […]
3M layoffs include 1,100 at its Minnesota HQ campus
3M notified the state of Minnesota of its plans to lay off approximately 1,100 employees connected to its headquarters. News of these specific layoffs come hand-in-hand with last month’s announcement that 3M planned to reduce its headcount by 6,000 employees. That followed a previous announcement of 2,500 layoffs in January. It remains unclear how many […]