3M To Buy M*Modal Healthcare Software Firm For $1 Billion

3M Co. (3M) recently announced it will acquire cloud-based tech solutions provider organization M*Modal for $1 billion. The Pittsburgh, Pennsylvania-based technology organization generates roughly $200 million in revenue each year, and currently employees about 750 individuals.

Expected to close by mid-2019, the transaction will see M*Modal becoming part of 3M’s health care business, helping to build upon its strategy of investment in health information systems and expanding the capabilities of its revenue cycle management and population health priority growth platform. 3M leadership has expressed the expected impact of joining together the two organizations is . . .