3M Bolsters Its Health Care Division With Purchase Of Semfinder
3M announced on Tuesday the purchase of Semfinder, a medical coding technology company from Switzerland.
Semfinder is known within the medical services field for its expertise with semantic coding, a style of coding that is said to focus on the content directly rather than how the content should look or be displayed.
Maplewood-based 3M said Semfinder’s technology would be particularly valuable in pushing the availability of its 360 Encompass System to countries with hospitals that are still adopting an electronic health records system.
“This acquisition builds upon 3M’s expertise in health care records coding and applied population analytics serving both providers and payers,” said JaeLynn Williams, vice president and general manager of 3M’s informational systems division. “Semfinder’s semantic technology will enable us to accelerate the development of next-generation solutions for healthcare records coding.”
Care centers in most industrialized countries have adopted electronic health record systems (EHRs). In America, that percentage is closing in on 100 percent, although the interoperability of those EHR systems has recently come into question.
3M did not disclose financial details of the deal.