3M announced its earnings for the second quarter along with the announcement.

3M Health Care

Among the areas of focus of the new business will be wound care and oral care, healthcare information technology and biopharma filtration.

In addition to bandages and skin adhesives, the company also sells air purifiers, optical lenses, and oral aligners.

There have been nearly 6,000 lawsuits filed against the company because of the Bair Hugger surgical warming system.

3M claims the product does not cause surgical-site infections.

A total of $8 billion was generated by 3M health care products in 2021.

A 19.9% stake in the new company will be retained by 3M after the transaction is complete next year.

3M's earnings report for the second quarter also includes the announcement.

Analysts were expecting $2.42 earnings per share and $8.58 billion revenue, but the company posted adjusted earnings of $2.48 and revenue of $8.7 billion.

A 4% gain was seen in premarket trading for the company's shares.

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