May 9 (Reuters) - 3M ( MMM ) spin-off Solventum's ( SOLV )

first-quarter profit fell 19% on Thursday, hurt by lower sales

of its wound care and sterilization products used in surgeries.

The medical equipment maker reiterated its organic revenue

and profit forecast for the current year. It expects organic

revenue to be flat to down 2% from a year earlier, and adjusted

profit of $6.10 to $6.40 per share.

A stronger dollar could hurt annual reported sales of the

company by 50 basis points, it said. Solventum ( SOLV ) expects

functional expenses to increase for the rest of the year.

Solventum ( SOLV ) is one of the largest providers of sterilization

devices, wound dressings, medical tapes and other hospital

consumables used by healthcare facilities.

Industrial conglomerate 3M ( MMM ) continues to own a 20% stake in

Solventum ( SOLV ) and expects to monetize the stake within five years

after the divestiture.

Solventum ( SOLV ) said its first-quarter results were prepared on a

"carve-out" basis from 3M's ( MMM ) healthcare business. It will report

results on a stand-alone basis from the second quarter.

Total net sales for the quarter came in at $2.02 billion,

more than half of which came from its MedSurg business that

provides wound dressings and surgical equipment.

Solventum ( SOLV ) said it plans to prioritize debt repayment over

the next 24 months. It had long-term debt of $8.30 billion as of

March 31.

The Minnesota-based company's net income fell to $237

million, or $1.37 per share, in the quarter, from $293 million,

or $1.70 per share, a year earlier.

On an adjusted basis, Solventum ( SOLV ) earned $2.08 per share for

the quarter ended March 31.