3M To Could Spin Off Or Sell Its Health Information Systems Business

3M Co. said it plans to explore alternatives for its health information systems business, which includes a potential spin off, sale or further investment in the business. The business has trailing 12-month revenue of about $730 million, and has compounded annual growth of more than 10% for the past three, five and 10 years. Shares of 3M, which makes a wide range of products including Scotch tape, Post-it Notes, masking tape for painting, water-filtration systems and pet care products, tacked on 0.5% in premarket trade. The stock has dropped 11% over the past three months through Wednesday, while the Dow Jones Industrials Average has lost 9.7%.