3M Expands Health Portfolio with Acquisition of Semifinder

Leading industrial goods manufacturer 3M CompanyMMM continues to grow inorganically with the acquisition of Semfinder. This deal will help the company expand it healthcare portfolio, and enhance its revenues going forward. The financial details of the deal remain undisclosed.

About Semfinder

Headquartered in Kreuzlingen, Switzerland, Semfinder is a premier developer of semantic coding of medical services. The company provides its services to over 400 hospitals across Germany, Austria and Switzerland.

Benefits of the Deal

Per the deal, Semfinder will provide upgraded coding technology which will enable 3M to speed up the availability of its 360 Encompass System across countries that are adopting the enhanced electronic medical records.

The acquisition of Semfinder will help 3M cater to the changing needs of the customers and enable them to develop next-generation solutions for healthcare records coding. The deal will also help the company expand its 3M Encompass System market worldwide.

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About 3M

Maplewood, MN-based 3M employs 90,000 people worldwide, with operations in more than 65 countries. It manufactures over 55,000 products including adhesives, abrasives, laminates, passive fire protection, dental and orthodontic products, electronic materials, medical products, car-care products (sun films, polish, wax, car shampoo, treatment for the exterior, interior and the under chassis rust protection), electronic circuits, and optical films.

3M currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include CLARCOR Inc. CLC , Crane Co. CR and Barloworld Ltd. BRRAY . All three stocks carry a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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