3M acquires M*Modal’s Technology Business

3M completed the acquisition of M*Modal’s technology business for a total enterprise value of USD 1 billion. M*Modal’s technology business provides cloud-based, conversational Artificial Intelligence (AI)-powered systems that will expand the capabilities of 3M’s health information systems business. Annual revenue of M*Modal’s technology business is estimated to be approximately USD 200 million. 3M’s health information systems business works with more than 8000 healthcare organizations worldwide. Adding M*Modal’s technology business to 3M’s health information systems will enable physicians to improve the patient experience, help physicians efficiently capture and improve the patient narrative while enhancing documentation accuracy and operational efficiency for both providers and payers