3M Co. (MMM) Acquires Medical Coding Technology Company Semfinder

September 6, 2016 12:22 PM EDT

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3M (NYSE: MMM) announced that it has acquired Semfinder, a Switzerland-based medical coding technology company. Semfinder is a leading developer of precise semantic coding of medical services.

The acquisition of Semfinder provides important new coding technology that will enable 3M to accelerate the availability of its 3M 360 Encompass System in countries adopting electronic medical records.

“This acquisition builds upon 3M’s expertise in healthcare records coding and applied population analytics serving both providers and payers,” said JaeLynn Williams, vice president and general manager, 3M Health Information Systems Division. “Semfinder’s semantic technology will enable us to accelerate the development of next-generation solutions for healthcare records coding. We look forward to bringing the advantages of the 3M Encompass System to more payers and providers worldwide.”

3M Health Information Systems, a business of 3M Health Care, is a recognized industry leader in health care coding software, services, and analytics. The business helps providers and payers improve patient outcomes while reducing the total cost of care. 3M provides healthcare data aggregation, analysis, and strategic services that help clients move from volume-based to value-based health care, resulting in millions of dollars in savings, improved provider performance, and higher quality of care.

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