3M reports healthcare sales growth

3M has published its financial report for the second quarter of 2010, during which improved healthcare sales helped to drive overall growth for the company as a whole.

The technology firm accrued $1.1 billion (712.4 million pounds) for the three-month period, a 5.7 per cent year-on-year increase, while operating income and margins also improved.

Among the drivers of this growth were its skin and wound care, health information systems and oral care divisions, while its drug delivery systems unit experienced a double-digit local-currency sales growth.

Meanwhile, across the 3M group as a whole, sales were up by 18 per cent year-on-year and have returned to their levels from the same quarter of 2008.

George Buckley, 3M’s chairman, president and chief executive officer, said: “Our growth strategy continues to gain momentum as we again delivered strong top-line growth and outstanding leverage to the bottom line.”

Last month, the company launched the Tegaderm range of high performance foam adhesive dressings, which is designed to offer a range of benefits in wound care applications.