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3M to Grow Its Healthcare Business in India

3M to Grow Its Healthcare Business in India

The Board of 3M India, the Bangalore-based unit of  the St. Paul MN headquartered material science company, approved an arrangement to accelerate growth of its healthcare business in India.
The company said the licensed manufacturer and reseller model will allow 3M India to continue to have exclusive access to the health care products and IP portfolio to continue to participate in the growing healthcare market in India.
The distribution model will permit 3M India to act as an independent exclusive distributor, ensuring continued leverage for the healthcare business.
The agreements have an initial term of five years, and will become effective upon the spin-off of 3M Company’s healthcare business into a standalone, public company during the first half of 2024.
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