It seems like medtech companies are scrambling to get that last bit of M&A done before the year ends. 3M is popping up on the deal radar, with its plan to acquire M* Modal’s technology business for a total enterprise value of $1 billion. The deal is expected to be completed in the first half of 2019.

Franklin, TN-based M* Modal’s technology business specializes in conversational artificial intelligence (AI)-powered systems that can help physicians efficiently capture and improve the patient narrative. This is done so physicians can spend more time with their patients and provide a higher quality of care.

There are about 750 employees supporting the technology business of M*Modal and they are expected to join 3M upon completion of the transaction. 3M said the technology business is expected to bring in about $200 million.

On a GAAP reported basis, 3M estimates the acquisition to be $0.10 dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated one-time expenses related to the transaction and integration, 3M estimates the acquisition to be neutral to earnings over the same period.

As 2018 draws to a close many companies are putting their bid down for last minute tuck-in deals. Earlier this week, Reshape Medical and Apollo EndoSurgery engaged in M&A activity that had both companies swapping technology in a transaction worth about $17 million.

In the deal, Apollo sold its surgical product line, which includes the Lap-Band adjustable gastric banding system to Reshape Medical. In addition, ReShape will deal its intra-gastric balloon line to Austin, TX-based Apollo.