HomeMy WebLinkAbout2015 09-10 3M puts its health information systems unit on the block STAR TRIBUNE 3M puts its health information systems
unit on the block `
The business is growing solidly but is a limited player in the broader
health IT market.
By Evan Ramstad(http://www.startribune.com/evan-ramstad/232499901/)Star Tribune
SEPTEMBER 10,2015-9:27PM
3M Corp.said Thursday it is exploring strategic alternatives for its health information
systems business,a unit with about$730 million in annual sales of software and services
to doctors,hospitals,insurance firms and government agencies.
The business has been growing steadily and is a leader in computer-assisted coding
products,particularly those doctors and staff can use operate through voice recognition.
It is smaller player in other niches of the health technology market.
The company,based in Mapiewood,hired Goldman Sachs to assist in the process,which
could lead to the sale of the business,though 3M cautioned no decisions have been
made.
"As part of our ongoing portfolio management process,3M is exploring alternatives for
our health information systems business,a recognized industry leader in health care
coding software,services,and analytics,"Inge Thulin,3M's chief executive,said in a
statement.
The firm airns to complete the process and possible transaction by the end of March
2016.
The business provides health care data aggregation,analysis,and strategic services to
health-related businesses and agencies.3M said its growth rate ea�ceeded 10 percent over
the past three-,five-and 10-year periods.
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The business resides in 3M's health care group,one of its five major business groups.
That group accounted for$5.5 billion,or about 17 percent,of 3M's$31.8 billion in sales
last year and was the fastest-growing unit of the five.
evan.ramstad@startribune.com 612-673-4241