Bryan probably realized that 3M filtration business segment s.ucks
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There was a (very, repeat, very) high level study group looking for the best investment opportunities for 3M, shortly before pandemic. As I remember, the conclusion was that biotech and biotherapies was the key area to focus on. obviously, nothing meaningful happened. But that was a big missed opportunity. Could have been a big win for 3M if executed well.
Not shocked. My guess is that Thermo Fischer will keep the bio business and sell off or shut down everything else. Essentially keeping the current product strategy but with Thermo's much better sales force into biopharma.
I'm actually pretty optimistic about this. Purification doesn't get the focus and funding it should get under 3M / Solventum. Maybe supply chain and order management will be better under Thermo Fisher, and will actually see growth in new developments. It's been ran like a joke under 3M and Solventum.
Hopefully good leadership will save it
Bryan is probably going to sell Dental and HIS to focus just on wound care
3m should of never bought them.
Thermo Fisher is still an innovation company. Something 3M used to be until Jimmy Mac brought is his GE plague and slashed research (except for his pet product Aldara) about 25 years ago.
Inge and Mikey further decimated the research budget.
Bryan at SOLV probably realized with Trian and activist investor Nelson Peltz bringing down his wrath and inflicting massive cost cutting that he'd never get the money to properly fund the research budget. Good move. The SOLV stock price popped today. And Bryan, unlike BB, has a plan for growth of what is left of SOLV.
Filtration and purification will fit well with Thermo Fisher, especially the Kidney Dialysis, biologics, and hospital products. They will actually know how to market and sell existing products they already sell. They have good channel relations and customer service. Not sure about the water filtration part, food service and retail likely to be spun off, something 3M should have done itself.
Maybe it will do better under someone else's management.