3M, an American multinational conglomerate, is set to spin off its healthcare business. Financial terms were not disclosed. "Today's actions advance our ability to create value for customers and shareholders. Disciplined portfolio management is a hallmark of our growth strategy. Our management team and board continually evaluate the strategic options that will best drive long term sustainable growth and value. The decision to spin off our Health Care business will result in two well-capitalized, world-class companies, well positioned to pursue their respective priorities," Mike Roman, 3M Chairman and CEO.