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Activist pressure pushes Eagan-based Solventum to divest billion-dollar business
['Patrick Kennedy', 'Patrick.Kennedy Startribune.Com']
Star Tribune
Solventum, which spun off from 3M in 2024, is divesting a division with $1.4 billion in annual sales.
While HIS is a billion-dollar unit, as a software provider to health care systems, it is different than Solventum's other businesses.
Solventum sharpened that portfolio already last year by selling its purification business to Thermo Fisher Scientific for $4 billion.
Hanson told analysts that the HIS business had been operating more or less independently since then, making a separation relatively easy.
Total reported sales for the quarter, including the divestiture of the purification business, increased 2.2% to $2.2 billion.