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July
1999
For Immediate Release
Linvatec
and Smith & Nephew Inc. Acquire 3M Businesses
London
- 3M Health Care has announced the signing of agreements to
divest both its Powered Instrument and Metal Implant businesses.
The Linvatec Division of ConMed, Inc. will
assume responsibility for 3M's Mini-Driver, Maxi-Driver, Stapilizer,
and other orthopedic instruments and their associated accessories.
Smith & Nephew Inc. will assume responsibility
for the NeerTM and 3M Modular
Implants and their accessories. These transactions are expected
to be complete in August.
3M is pleased to be working with world-class
companies like Linvatec and Smith & Nephew. They both have
strong market presence in orthopedic instruments and implants
and are committed to delivering new product innovation, and
to providing outstanding service and support.
"Our decision to divest these businesses
is based on continuous review of our product portfolio, our
technology and marketplace needs," says Kevin Higgins, executive
director, Healthcare Markets. "We have decided to focus on
technologies and processes where we have strength and see
opportunities for expanded growth in the Healthcare market."
There will be no impact on employment as a
result of these actions.
For more information, please call 1-800-563-2921.
For an electronic version of this news release
and information on other innovative 3M products, visit our
"Press Box" web site at www.3M.com/CA/news.
Contact 3M Canada
PR department.
3M and Neer are trademarks of 3M. Used under
license in Canada.
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