3M said it is exploring a sale and other strategic options for its healthcare software unit, which has 100 employees at an administrative office in Wallingford.
The company said it may sell or spin off its Health Information Systems unit, which is headquartered in Utah. 3M said it could also decide to keep the business and invest more in it.
A decision is expected by March of next year. 3M has hired Goldman Sachs to explore its options.
The HIS unit makes software that helps more than 5,000 hospitals with clinical documentation, billing coding, performance monitoring and other tasks. HIS has trailing 12-month revenue of approximately $730 million, 3M said.
3M’s other Connecticut operations include its purification unit’s headquarters in Meriden and a manufacturing plant in Stafford Springs. 3M closed its industrial segment’s Enfield plant last year, moving operations to Minnesota and Mexico. The move affected 142 jobs.
