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3M (MMM) Arm Collaborates With Rad AI on Reseller Agreement

3M Company MMM arm 3M Health Information Systems (HIS) recently announced that it has entered into a strategic sales partnership with Rad AI to resell the latter’s Continuity incidental findings management and Omni impression generation solutions.

Per the deal, Rad AI's Continuity and Omni solutions will be sold using 3M's M*Modal Fluency for Imaging solution. The M*Modal Fluency for Imaging is an artificial intelligence (AI)-powered reporting solution that aids radiologists in creating error-free reports.

On the other hand, Rad AI’s Continuity solution uses AI-driven automation to make sure that proper patient follow-up is communicated. Rad AI Omni generates an impression from imaging findings dictated by the radiologist.

3M’s M*Modal Fluency for Imaging and Rad AI's Continuity and Omni solutions complement each other. The partnership between the two companies will benefit a large number of radiologists by saving their time and will also enhance patient safety.

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"3M Fluency for Imaging and Rad AI's Continuity and Omni are complementary solutions that help to support and strengthen the entire speech-driven reporting workflow," said Michael Bee, 3M HIS vice president of clinician solutions. "Our goal in expanding this partnership is to provide solutions facilitating an efficient and accurate radiology reporting process that aids radiologists' lifesaving work and gives them valuable time back in their day, and that helps increase follow-up exam rates and decrease missed diagnoses to improve patient care."

Zacks Rank & Other Key Picks

3M currently carries a Zacks Rank #3 (Hold).

Some better-ranked companies are discussed below:

Enerpac Tool Group Corp. EPAC delivered an average four-quarter earnings surprise of 3.4%. EPAC presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.

EPAC’s earnings estimates have increased 9.1% for fiscal 2023 (ending August 2023) in the past 60 days. The company’s shares have gained 24.2% in the past six months.

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IDEX Corporation IEX presently has a Zacks Rank of 2. IEX’s earnings surprise in the last four quarters was 5.7%, on average.

In the past 60 days, IDEX’s earnings estimates have increased 1.8% for 2022. The stock has rallied 25.7% in the past six months.

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