3M to acquire SoftMed

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3M has entered into an agreement to acquire SoftMed Systems, a provider of health information management software and services designed to improve the workflow and efficiency for health care organizations.

SoftMed Systems should bring to 3M technologies that enable hospitals to create an electronic medical record using templates, voice dictation, speech recognition, electronic signature, document scanning and interfaces to other vendor products. This acquisition also expands 3M Health Information Systems' business from its core of advanced reimbursement, compliance, and quality management software tools and services that help health care organizations manage accurate health care information by adding SoftMed Systems' practical technologies, the companies said.

3M Health Information Systems supplies a comprehensive system for coding, reimbursement and compliance to more than 5,000 health care organizations worldwide.

SoftMed Systems employs 360 people, with headquarters in Silver Spring, Md. The acquisition is expected to close in Q4.