Sales were flat and income fell for 3M‘s (NYSE:MMM) 3M Health Care business during the 4th quarter, the industrial giant said today. Operating income for the healthcare business was $410 million for the 3 months ended Dec. 31, 2016, down -7.3% compared with 2015, on a -0.1% sales dip to $1.4 billion, 3M said this morning. […]
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Siemens, IBM Watson Health, 3M and Google get into population health management
Four major players in the medical field are pairing up to dive into population health management, according to press releases posted today. Siemens (NYSE:SI) and IBM‘s (NYSE:IBM) Watson Health announced a 5-year population health management deal, while Google‘s (NSDQ:GOOG) Verily Life Sciences and 3M (NYSE:MMM) announced a similar agreement in the field. IBM Watson Health’s deal with […]
3M to keep, reinvest in Health Information biz
3M Health Care (NYSE:MMM) said Tuesday it plans to keep its Health Information Systems business, which it mulled spinning-off or selling last September. 3M’s Health Information Systems business provides healthcare data aggregation, analysis and strategic services. The division develops and supports algorithms and software designed to improve clinical documentation, performance and quality monitoring and terminology management, the company […]
3M mulls HIT spinout or sale
(Reuters) — 3M Co. (NYSE:MMM) said today that it’s exploring a sale or spinoff of its healthcare data and software business. The decision comes as CEO Inge Thulin reviews 3M’s broad business portfolio, which includes Post-it notes as well as adhesives, abrasives and other products for a variety of industries. At the same time, the company has […]
3M pays $1B for Polypore’s separations media biz
3M Co. (NYSE:MMM) said today that it paid $1 billion for the Polypore’s (NYSE:PPO) separations media business, which makes membranes and modules for blood treatment, ultrafiltration and gas transfer. St. Paul, Minn.-based 3M said Polypore’s separation media segment puts up annual sales of roughly $210 million. The acquisition is expected to dilute earnings this year by […]
3M Healthcare’s Q2 profits tick up despite sales dropoff
Profits for the healthcare unit at 3M Co. (NYSE:MMM) rose during the 2nd quarter, despite a nearly -4% top-line slide, the industrial conglomerate said today. St. Paul, Minn.-based 3M Healthcare posted operating profits of $440 million on sales of $1.36 billion for the 3 months ended June 30, representing profit growth of 1.4% despite a […]
CAH top suitor for JNJ’s Cordis unit | The week in medtech M&A
3M to buy Ivera Medical
3M Cos. (NYSE:MMM) announced it has entered into an agreement to buy disinfectant-products maker Ivera.
Ivera’s lead product, the Curos I.V. port-connector cap, is used to help prevent catheter-related blood-stream infections, or CRBSIs. 3M said the product will complement its Tegaderm line of antimicrobial I.V. securement dressings.
EPA advisory panel’s ruling could disrupt medtech
A scientific advisory panel to the EPA is convening today to evalute the environmental watchdog’s determination that a common medical device sterilizer, ethylene oxide, is carcinogenic.
If the panel confirms that assessment, medtech companies warn, it could disrupt the supply chain for their lifesaving products.