3M will spin off its health care business into a new public company

A 3M logo is seen atop a Versaflo TR-300+ powered air purifying respirator hood as Nurse Evan Brost puts on personal protective equipment (PPE) before entering a patient room in a wing housing coronavirus disease (COVID-19) patients at UW Health University Hospital in Madison, Wisconsin, U.S. November 18, 2020.

Daniel Acker | Reuters

3M announced Tuesday that it will spin off its health care business into a separate publicly traded company.

The new business will focus on wound and oral care, healthcare IT and biopharma filtration, the material science company said in a release.

The announcement comes as 3M spins off another company focusing on food safety, a process which is scheduled to be completed by September.

This is breaking news. Please check back for updates.

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