3M Co. made two small deals this week, the sale of the assets of its temporary protective films business and the acquisition of a Swiss medical coding technology company.
Terms of both deals were undisclosed, but they were small compared to other transactions 3M made in the past few years.
Semfinder is an addition to 3M’s health information unit, which helps health care and insurance companies document and track patient care. Its systems allow computer-assisted coding, digital clinic documentation and the tracking of quality outcomes and trends from large bodies of information.
Semfinder is a leading developer of precise semantic coding of medical services and will allow 3M to expand availability of its 360 Emcompass System in more countries adopting electronic medical record technology.
Semfinder’s technology will help 3M “accelerate the development of next-generation solutions” for records coding, said JaeLynn Williams, vice president and general manager of the health information division.
3M is selling the temporary protective films business to Pregis LLC. The adhesive-backed products are used in a range of industries including automotive and appliance. The unit produces annual sales of about $50 million and employs about 90 people.
The sale comes as 3M continues to evaluate what it does and then focus on core businesses, said Ty Silberhorn, vice president and general manager of the adhesives and tapes division.
Meanwhile, growth in the protective films category is a strategic move for Pregis, based in Deerfield, Ill., said its president and CEO, Kevin Baudhuin.
The transaction is expected to close later this year. When it does, 3M is expected to realize a small gain that will be offset by other actions during the remainder of 2016.