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US-Based Organization 3M May Sell Its Health Information Systems Business

by Lakshmi Darshini on  September 11, 2015 at 4:08 PM General Health News   - G J E 4
A diversified manufacture in the US 3M Co (MMM.N) said that it was exploring a sale or spin off of its healthcare data and software business.
US-Based Organization 3M May Sell Its Health Information Systems Business
US-Based Organization 3M May Sell Its Health Information Systems Business
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3M's broad business portfolio, which includes Post-it notes as well as adhesives, abrasives and other products for a variety of industries has been reviewed by Chief Executive Officer Inge Thulin. The company has struck acquisition deals in order to expand in other areas.

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As several companies and the U.S. government raise spending as regulatory requirements increase the healthcare technology business has seem to be on the brighter side. 3M Health Information Systems, a unit of the company's healthcare business, had trailing 12-month revenue of about $730 million, according to 3M. Healthcare data aggregation, analysis and strategic services are provided by the health information systems business.

St. Paul, Minnesota-based 3M said it hired Goldman Sachs (GS.N) to advise on strategic alternatives for the health information unit. It said it expected a decision by the end of the first quarter of 2016 and could choose to retain and invest in the business.

Source: Medindia
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