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.
The 10-K reports total net sales of $8,254 million for 2024 compared to $8,197 million in 2023, representing a modest increase. This growth was driven by organic sales growth, partially offset by currency impacts.
Operating income decreased from $1,692 million in 2023 to $1,036 million in 2024. This decrease was primarily due to increased selling, general, and administrative expenses associated with becoming a standalone company after the spin-off from 3M.
Net income decreased from $1,346 million in 2023 to $479 million in 2024. This decrease is consistent with the decrease in operating income and increase in interest expense.