Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Cmu Spinout's Health Technology Operation Acquired by 3m

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Cmu Spinout's Health Technology Operation Acquired by 3m

Article excerpt

Speech recognition software developer M*Modal's technology business has been acquired by Minnesota-based multinational conglomerate 3M for $1 billion, the companies announced on Wednesday.

M*Modal, which was spun out of Carnegie Mellon University in 2001, provides health care technology and conversational artificial intelligence-powered systems used in transcribing doctors' verbal notes. The company is based in Franklin, Tenn., and has offices in Squirrel Hill.

"This acquisition builds on our strategic commitment to invest in our health information systems business and expands the capabilities of our revenue cycle management and population health priority growth platform," 3M executive vice president Mike Vale said in a prepared statement.

M*Modal president Michael Finke said the deal will allow the company to reach more clients with conversational artificial intelligence, which can be incorporated into clinical workflows. …

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