3M acquires coding technology firm

  • Article by: SUSAN FEYDER
  • Star Tribune
  • April 10, 2012 - 9:34 AM

3M Co. said Tuesday its has acquired a Bethesda, Md.-based provider of computer-assisted coding technology for the healthcare industry.

Term of the acquisition of CodeRyte Inc. were not disclosed.

Maplewood-based 3M said it has worked with CodeRyte since 2009 to provide its technology to more than 60 3M clients.

3M is a global supplier of coding and patient data classification systems to more than 5,000 hospitals.

The acquisition of CodeRyte, which has 130 employees, is the latest in a series of deals for 3M, which has spent about $3 billion acquiring businesses in the last two years. 3M has said it expects to spend $1 billion to $2 billion this year on acquisitions.

Susan Feyder • 612-673-1723

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