Diversified technology conglomerate
) has recently introduced a new portfolio of medical design
products to meet the evolving regulatory requirements of the
industry. The strategic move is expected to augment its health
care segment revenues and strengthen its position as a premier
manufacturer of health care products such as adhesives, bonding
tapes, adhesive transfer tapes, reclosable fasteners, and label
Over the past few quarters, the health care industry has
witnessed a marked shift toward design for reusable medical
devices, which in turn has increased the need for sterilization
between uses. The entire gamut of 3M Medical Assembly Solutions
have been found to be able to withstand the rigors of the
sterilization process as outlined by the industry requirements.
Moving forward, the company expects to leverage its expertise in
the healthcare segment and regulatory compliance to continue
making medical devices that are stable through the protocols for
cleaning, disinfection and sterilization.
Furthermore, 3M's global presence and an unrivaled track record
as an innovative provider of adhesives and components for health
care manufacturers that are used for bonding, fastening,
attaching and identification of patients, are positives for the
company. Consistent with its long-term strategy of accelerating
investments in high-growth programs, 3M strives to deliver
sustainable increases in sales, earnings and free cash flow. The
company's ability to convert high R&D spends into up cycle
market share gains, pricing power, and margin determines its
success over the years.
Formerly known as Minnesota Mining and Manufacturing Company, 3M
was founded in 1902 and is currently based in St. Paul,
Minnesota. The company operates as a diversified technology
enterprise with manufacturing operations across 70 countries. It
has more than 35 business units organized into six segments:
Consumer and Office; Display and Graphics; Electro and
Communications; Healthcare; Industrial and Transportation; and
Safety, Security and Protection Services.
3M has been continuously upgrading its product portfolio to fight
against stiff competition from other leading players in the
industry such as
Federal Signal Corp.
Jardine Strategic Holdings Ltd.
), each carrying a Zacks Rank #1 (Strong Buy), and
Tyco International Ltd.
), which carries a Zacks Rank #2 (Buy). 3M presently has a Zacks
Rank #3 (Hold).
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