Solventum Announces Sale of its Purification & Filtration Business to Thermo Fisher Scientific Inc. for $4.1B

Core Viewpoint - Solventum has entered into a definitive agreement to sell its Purification & Filtration business to Thermo Fisher Scientific for $4.1 billion, aiming to enhance strategic focus and strengthen its balance sheet [1][2]. Group 1: Transaction Details - The sale is expected to be neutral to Solventum's 2025 EPS and will generate approximately$3.4 billion in net proceeds, primarily for debt repayment [1][2]. - The transaction is anticipated to close by the end of 2025, pending regulatory approval and customary closing conditions [1]. Group 2: Strategic Implications - This divestiture is part of the third phase of Solventum's transformation plan, which aims to sharpen focus on strategic growth areas and improve key metrics [2][5]. - The CEO emphasized that the transaction will allow Solventum to invest in innovation and talent necessary for executing its mission and delivering shareholder value [2]. Group 3: Future Engagements - Solventum plans to discuss the transaction in its upcoming fourth quarter and full-year 2024 earnings call on February 27, 2025 [2]. - An Investor Day is scheduled for March 20, 2025, in New York City to update investors on the company's progress and long-term plans following the significant portfolio change [2].