Diversified conglomerate 3M Company (MMM - Free Report) recently completed the acquisition of Treo Solutions, a company that analyzes data for hospitals, doctors and health insurers, for an undisclosed amount.
Treo Solutions, in partnership with healthcare providers and government agencies, offers healthcare data analytics that reduces healthcare costs while increasing the desired health outcomes. Post acquisition, Treo Solutions became a part of 3M Health Information Systems, an integral unit of 3M Healthcare. 3M Healthcare delivers intelligent software and consulting services that are used to compile, classify, and analyze health information. This acquisition is expected to expand its horizons and unlock additional value.
With this acquisition, 3M will be able to offer a client-centric suite of healthcare management tools by leveraging Treo’s analytic skills and services. This will enable 3M to help clients achieve benchmark performance, manage population health and provide quality patient care. This acquisition extends real-time data analytics by redesigning payment structures and offers customers an easy access to more comprehensive data about a patient and improve patient outcomes under new risk-sharing care models.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus ensuring the security of people and documents.
3M remains focused on inventing new products to maintain its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
3M currently has a Zacks Rank #2 (Buy). Other stocks that look promising and are worth a look now include Federal Signal Corp. (FSS - Free Report) , having a Zacks Rank #1 (Strong Buy), and CLARCOR Inc. and Crane Co. (CR - Free Report) , both having a Zacks Rank #2 (Buy).