3M Appoints Leader of Its Spinoff Health Care Business Unit

3M, an American conglomerate operating in industry, worker safety, healthcare, and consumer goods, announced the appointment of Bryan Hanson as chief executive officer of its new healthcare business.

On Tuesday, Aug. 22, it said that the newly-appointed executive will lead the healthcare group that it plans to spinoff. Last year, 3M shared its plans to create a new branch for its healthcare line.

There are plans to turn this health business into a listed company where 3M will keep its 19.9% stake. The firm is looking to complete the spinoff before this year ends. As per Reuters, the plan is to direct the focus of this healthcare unit to oral care, wound care, and healthcare technology, accounting for around 25% of the company's $34.43 billion in sales in 2022.

In any case, Hanson will officially join 3M on Sept. 1 and immediately assume the role of CEO of the firm's Health Care Business Group. Before this appointment, he worked as president and chief at Zimmer Biomet since 2017. He was promoted to the chairman post in 2021, and now he has left the Indiana-based medical equipment manufacturer to move to 3M.

Aside from hiring a new CEO, 3M also revealed that Carrie Cox, the former chairman and CEO of Humacyte Inc., will also be the chairman of the board of directors for the healthcare spinoff.

"We are pleased to have Bryan join us to successfully complete the spinoff of our Health Care business and build a leading independent medical technology innovation company," 3 M's chairman and chief executive officer, Mike Roman, said in a press release. "His industry expertise, ability to drive growth, and track record of building a strong culture and teams will make an immediate impact."

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