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3M’s M*Modal Acquisition Set to Capitalize on Healthcare Cloud Growth

January 02, 2019 / Fred Donovan

Healthcare cloud computing is expected to continue its strong growth in 2019, as organization move more sensitive data to the cloud.To capitalize on this growth, 3M recently announced plans to acquire M*Modal’s cloud-based clinical documentation unit for around $1 billion. The companies expect to complete the transaction in the first half of this year.M*Modal is a healthcare technology provider of cloud-based, conversational AI-powered systems that enable physicians to capture and improve the patient narrative. 3M plans to add the Pittsburgh-based M*Modal business to its 3M Health Information Systems unit, which supplies software and services to healthcare providers and payers. 3M HIS products, which include the 3MTM 360 Encompass software platform, combine clinical documentation systems and risk assessment methodologies to capture and analyze patient information.Around 750 employees supporting the technology business of M*Modal are expected to join 3M upon completion of the tran...