Solventum
About Solventum
Solventum is a company based in Franklin (United States) was acquired by 3M in December 2018. It operates as a SaaS (Software-as-a-Service), Managed Services, and HealthTech. Solventum has completed 3 acquisitions, including JLG Medical, Landmark Transcription and MxSecure. Solventum offers products and services including Ambient Documentation, Clinical Documentation Integrity, and Coding Automation. Solventum operates in a competitive market with competitors including Augmedix, Suki, Corti, Abridge Inc and Heidi, among others.
- Headquarter Franklin, United States
- Stage Public
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Sectors
HealthcareTechnology
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Phone
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Website
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Social
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- Legal Name Solventum
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$80.73 M (USD), Post-IPO
Feb 21, 2018
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Investors
3M
& 1 more
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Employee Count
Employee Count
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Investments & Acquisitions
JLG Medical
& 2 more
- Acquired by
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Products & Services of Solventum
Solventum offers a comprehensive portfolio of products and services, including Ambient Documentation, Clinical Documentation Integrity, and Coding Automation. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Clinical documentation is automated using ambient AI technology.
Documentation gaps are identified and addressed in real-time.
Coding processes are streamlined with AI-driven automation tools.
Funding Insights of Solventum
- Total Funding Total Funding
- Total Rounds 1
- Last Round Post-IPO — $80.7M
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First Round
First Round
(21 Feb 2018)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Feb, 2018 | Amount | Post-IPO - Solventum | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Solventum
Solventum has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include 3M and Legend Parent, Inc. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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3M is recognized as a global leader in industrial innovation.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Solventum
Solventum has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include JLG Medical, Landmark Transcription and MxSecure. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
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Medical transcription services are provided to hospitals and practices.
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2004 | ||||
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Suite of EHR software, medical transcription and speech recognition solutions for healthcare providers
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2003 | ||||
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Transcription services for the healthcare industry are provided.
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Solventum
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Solventum Comparisons
Competitors of Solventum
Solventum operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Augmedix, Suki, Corti, Abridge Inc and Heidi, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
AI-powered solutions for medical documentation and clinical support are delivered.
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AI-backed voice solutions for medical documentation are provided.
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Developer of a diagnostic aid for emergency medical dispatchers using speech recognition technology
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| domain | founded_year | HQ Location |
AI-based platform for recording and managing health conversations is provided.
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| domain | founded_year | HQ Location |
An AI medical scribe is developed for clinical documentation automation.
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| domain | founded_year | HQ Location |
EHR management software is provided for healthcare professionals and organizations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Solventum
Frequently Asked Questions about Solventum
Where is Solventum located?
Solventum is headquartered in Franklin, United States.
What does Solventum do?
Solventum is engaged in providing health information technology solutions, specializing in clinical documentation from capture to code. Services are offered to clinicians, payers, revenue cycle teams, and federal health agencies. Innovative platforms like Solventum Cloud Platform and Solventum 360 Encompass System are utilized to streamline documentation, improve coding accuracy, and enhance quality care outcomes. The company operates in the healthcare sector, addressing challenges like physician burnout and administrative burden through ambient AI and speech recognition technologies. Consulting and outsourced services are also provided to optimize revenue cycle management across various care settings.
Who are the top competitors of Solventum?
Solventum's top competitors include Augmedix, Abridge Inc and Suki.
What products or services does Solventum offer?
Solventum offers Ambient Documentation, Clinical Documentation Integrity, and Coding Automation.
How many acquisitions has Solventum made?
Solventum has made 3 acquisitions, including JLG Medical, Landmark Transcription, and MxSecure.
Who are Solventum's investors?
Solventum has 2 investors. Key investors include 3M, and Legend Parent, Inc.