Sector: Healthcare|Industry: Health Information Services|Market Cap: $11.83B|Employees: 20K
Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes. The Dental Solutions segment provides a comprehensive suite of dental and orthodontic products including brackets, aligners, restorative cements, and bonding agents. The Health Information Systems provides software solutions including computer-assisted, physician documentation, direct-to-bill and coding automation, classification methodologies, speech, recognition, and data visualization platforms. The Purification and Filtration segment provides purification and filtration technologies including filters, purifiers, cartridges, and membranes. The company was incorporated in 2023 and is based in Saint Paul, Minnesota.
Total net sales increased slightly from $2,076 million to $2,081 million for the three months ended June 30, 2024, with net sales of product increasing from $1,607 million to $1,605 million. Net sales of software and rentals increased slightly from $469 million to $476 million.
Operating income decreased from $417 million to $244 million for the three months ended June 30, 2024. This is due to an increase in total operating expenses from $1,659 million to $1,837 million.
Net income decreased from $321 million to $89 million for the three months ended June 30, 2024. This decrease is primarily due to the decrease in operating income and an increase in interest expense.