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 $2,074 million to $2,082 million for the three months ended September 30, 2024. For the nine months ended September 30, 2024, total net sales increased from $6,161 million to $6,179 million.
Operating income decreased from $504 million to $275 million for the three months ended September 30, 2024, and from $1,286 million to $900 million for the nine months ended September 30, 2024. This decrease is attributed to higher operating expenses.
Net income decreased from $460 million to $122 million for the three months ended September 30, 2024, and from $1,074 million to $448 million for the nine months ended September 30, 2024. This decline is primarily due to decreased operating income.