Health IT

3M may sell health IT business, or it may not

3M said Thursday that it is “exploring strategic alternatives” for its health information systems division.

Talk about some jumbled corporate-speak.

3M said Thursday that it is “exploring strategic alternatives” for its health information systems division. That, according to the St. Paul, Minnesota-based industrial conglomerate, “could include spinning-off, selling, or retaining and further investing in the business within 3M.”

So, yeah, that’s conclusive. At least spokeswoman Donna Fleming Runyon didn’t hedge when asked about a timetable.

“We expect to have some direction by the end of the first quarter,” Runyon told MedCity News.

Executives were a little more mealy-mouthed. “As part of our ongoing portfolio management process, 3M is exploring alternatives for our Health Information Systems business, a recognized industry leader in healthcare coding software, services and analytics,” Chairman, President and CEO Inge Thulin said in the press release Runyon referred to for further information. “Through this process, we are focused on determining the best path to benefit 3M, its stakeholders, and this business.”

In other words, make them an offer. Or don’t. It won’t cause anyone at MedCity News to lose sleep.

3M did say the unit is growing at an annual rate of 10 percent and that health information systems generated $730 million in revenue over the past 12 months. Runyon would not say if 3M Health Information Systems is profitable.

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