3M Says It May Sell Or Spinoff Health Care Software Business
NEW YORK (AP) — 3M said Thursday that it may sell or spin off its health care software business as it seeks to reduce the products and services it offers.
The company's health information systems business provides software to doctors, government agencies and others to collect data and help cut health care costs. 3M Co., based in St. Paul, Minnesota, also makes Post-it notes, industrial coatings and ceramics.
3M said the unit had revenue of about $730 million in the last year. It hired The Goldman Sachs Group Inc. to help it seek strategic alternatives for the business.
Shares of 3M slipped 10 cents to $140.76 in morning trading Thursday.
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