3M Co. (NYSE: MMM) is buying Treo Solutions, a data analytics company, for an undisclosed amount.
Treo, headquartered in Troy, N.Y., provides data analytics and business intelligence to health care payers and providers. The service is used mainly to redesign payment structures.
The deal will allow 3M to add to its 360 Encompass System, used for computer-assisted coding. After the deal closes, 3M should be able to offer clients a more complete picture of health care patients across multiple care areas. The company has a health care division, 3M Health Information Systems, which provides software and consulting services to hospitals and health systems, as well as federal agencies for coding, documentation, data and monitoring.
The deal is just one of many we've seen from companies looking to expand in the health care sector. In February, UPS (NYSE: UPS) bought Polar Speed to increase its health care logistics services with the target's refrigerated vehicles and logistics network.
In January, SCL Health System and joint venture partner Univita Health bought All Care Home Health LLC as part of their plan to develop an integrated care program.
For more on health care, see "ACA Reshuffles the Deck."