Slowey, 27, has pitched in Minnesota for the last five seasons and profiles as a back of rotation starter when healthy. Last season was Slowey's worst in the majors, as he only threw 59.1 innings with a 6.67 ERA before forearm injuries cut his season short. His main draw is the ability to throw strikes; over his career, Slowey has a 1.4 BB/9 rate and a 4.7 K/BB rate.
As an acquisition, Slowey will join numerous other names in an open competition this spring to fill the Rockies' rotation. Esmil Rogers, Tyler Chatwood, Alex White, Drew Pomeranz, and Juan Nicasio are also candidates for that rotation spot.
Rockies beat writer Thomas Harding first reported the deal and specifies that the Rockies are sending back a PTBNL after the Rule 5 draft. This player is unlikely to be a significant prospect.