The subframe is bolted to the car's frame and engine/tranny. Yes, it is replaceable and junk yards might have a good one for your S60.
The work to R&R the frame is substantial, I would not be surprised that engine/tranny removal is required. It might be possible to lift the engine 1 inch or so from the top and start removing the subframe from the bottom, but that is a lot of upsidedown work.
You will need to look for other damage besides the subframe. It is hard to imagine a bent subframe without other broken bits, like engine mounts, etc.
Klaus
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Always willing to listen, just not able to take direction.
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