IBM Sells Watson Health to Private Investment Company
IBM announced that it is selling its healthcare data and analytics assets—part of Watson Health—to global investment company Francisco Partners. Financial details of the deal, which is expected to close in the second quarter of 2022, have not been disclosed.
“[Our] agreement with Francisco Partners is a clear next step as IBM becomes even more focused on our platform-based hybrid cloud and AI strategy,” said Tom Rosamilia, senior vice president of IBM Software, in a company press release. “IBM remains committed to Watson, our broader AI business, and to the clients and partners we support in healthcare IT. Through this transaction, Francisco Partners acquires data and analytics assets that will benefit from the enhanced investment and expertise of a healthcare industry focused portfolio.”
Francisco Partners has invested in more than 400 technology companies. “We have followed IBM’s journey in healthcare data and analytics for a number of years and have a deep appreciation for its portfolio of innovative healthcare products,” said Ezra Perlman, co-president at the firm. “IBM built a market leading team and provides its customers with mission critical products and outstanding service.”
As part of the agreement, the current management team will stay in place and serve in similar roles as part of a standalone company that continues to operate in life sciences, imaging, government health, provider, payer and employer, and human services segments.
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