St. Paul, Minn.-based 3M announced April 1 that it completed its acquisition of Treo Solutions, Troy, N.Y., which delivers data analytics
and business intelligence to healthcare providers and more than 60 health plans.
As a subsidiary of 3M, Treo becomes part of 3M Health Information Systems, which develops computerized clinical-coding software and analytics tools and provides consulting services to hospitals, health systems, commercial payers, and federal and state agencies.
“The acquisition of Treo is a significant step for 3M in developing coding and analytics solutions enabling our clients to deliver healthier outcomes at lower costs,” Jon Lindekugel, president of 3M Health Information Systems
, said in a release. “By combining Treo's expert analytic tools and services with 3M's deep expertise in patient classification, we can help clients benchmark performance, manage population health and achieve a more complete picture of the patient across the continuum of care.”
Financial terms of the deal were not disclosed. Treo, which has been in business since 2002, employs about 180 people with offices in Denver and Overland Park, Kan., in addition to its Troy, N.Y., headquarters. It was named one of Modern Healthcare's Healthcare's Hottest companies in 2013
with five-year compounded revenue growth of 39.5% and 2012 revenue of $25.4 million.Follow Rachel Landen on Twitter: @MHrlanden