3M Co (NYSE:MMM) has announced that they are acquiring Treo Solutions, a New York based health care analytics company. The terms of the acquisition were undisclosed. The deal is pending regulatory approval, but is expected to close in Q2.
Treo works with health care providers and government agencies. The company delivers analytics data for over 60 health plans to help cut costs. Treo uses data analytics to redesign payment structures and transition clients to value based care models.
3M will be able to expand into real-time data analytics and payment redesign through the acquisition. Treo employs around 185 people and is headquartered in Troy, New York. 3M is known for selling products like Scotch tape, Nexcare bandages, and Post-It notes.