3M Company (MMM - Analyst Report) through it corporate venture organization, 3M New Ventures, expanded its scope in development of real-time physiological monitoring solutions through its investment in the developer of these solutions, Zephyr Technology. These solutions are used for well-being applications in healthcare, first responder, sports, military, and industrial markets.
Other investors in this series C financing round include Alsop Louie Partners and Motorola Solutions Venture Capital. The invention process of Zephyr includes use of smart fabric sensor technology, original algorithms and system design for developing new ways to monitor human performance.
The biometric sensors monitor ECG, heart rate, breathing rate, estimated core temperature, activity and posture of people. Real-time monitoring by BioSense® analysis algorithms ensures well-being of people.
Markets covered by Zephyr include sports, wellness, defense and medical monitoring. Medical products from Zephyr monitors patients in ambulances and chronic diseases at home and are also used in health management.
3M Company, together with its subsidiaries, operates as a diversified technology firm with manufacturing operations spread over 60 countries worldwide. It has more than 35 business units organized into six segments: Consumer and Office, Display and Graphics, Electro and Communications, Healthcare, Industrial and Transportation, and Safety, Security and Protection Services Business. The major competitors of 3M are Avery Dennison Corporation (AVY - Analyst Report) , EI DuPont de Nemours & Co. (DD - Analyst Report) and Johnson & Johnson (JNJ - Analyst Report) .
We continue to maintain a Neutral recommendation on 3M Company for the long term while the stock retains a Zacks #4 Rank (Sell Rating) over the next one- to- three months.