3M announced today that it has entered into an agreement to acquire Treo Solutions, a leading provider of data analytics and business intelligence to healthcare payers and providers. Terms of the transaction were not disclosed.
Treo, which delivers analytics on data from more than 60 health plans, is an industry leader in using data analytics to redesign payment structures and transition payer and provider clients to value-based care models. This acquisition will make it possible to extend real-time data analytics and payment redesign worldwide, jumpstarting the many provider organizations that have adopted the 3M 360 Encompass System for computer-assisted coding in their transition to population health management.
“Together, 3M and Treo will offer customers access to better, more comprehensive data that gives a more complete picture of the patient across all sites of care,” said Jon T. Lindekugel, president, 3M Health Information Systems. “It’s essential information needed to manage costs and improve patient outcomes under new risk-sharing care models.”
3M Health Information Systems, a business of 3M Health Care, delivers intelligent software and consulting services that are used by hospitals and health systems, commercial payers, and federal and state agencies to compile, classify, and analyze health information. 3M solutions for computer-assisted coding, clinical documentation improvement, data interoperability, performance monitoring and quality outcomes reporting help organizations achieve better clinical and financial performance.Treo employs approximately 185 people and is headquartered in Troy, N.Y., with offices in Denver and Overland Park, Kan. The transaction is expected to close in the second quarter, subject to customary closing conditions and regulatory approvals. About 3M3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $31 billion in sales, 3M employs 89,000 people worldwide and has operations in more than 70 countries. For more information, visit www.3M.com or follow @3MNews on Twitter.