3M Acquires CodeRyte
3M has announced it has acquired CodeRyte, a Bethesda, Md.-based provider of clinical natural language processing (NLP) technology and computer-assisted coding solutions for outpatient providers, according to a news release.
CodeRyte's products include CodeAssist, CodeComplete and DataScout.
"This acquisition allows us to apply CodeRyte's leading edge NLP technology to our new 3M 360 Encompass System," said Jon T. Lindekugel, vice president and general manager, 3M Health Information Systems, in the release. "We believe CodeRyte's powerful NLP engine combined with 3M's deep expertise in coding, reimbursement and patient classification will foster further innovation in the application of NLP."
Terms of the transaction were not disclosed.
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