IBM right this moment introduced an settlement through which Francisco Companions will purchase its well being care information and analytics belongings, in a transaction that’s anticipated to shut within the second quarter of this 12 months.
The belongings are at the moment a part of Watson Well being, and embody information units and merchandise like Well being Insights, MarketScan, Scientific Growth, Social Program Administration, Micromedex and imaging software program.
Though IBM didn’t verify the worth of the sale, Bloomberg has reported that it’s valued at greater than $1 billion.
The IBM division will transition to turning into a standalone firm, retaining Watson Well being’s present administration workforce and present shoppers.
“Right now’s settlement with Francisco Companions is a transparent subsequent step as IBM turns into much more centered on our platform-based hybrid cloud and AI (synthetic intelligence) technique,” mentioned Tom Rosamilia, senior vp of IBM Software program. “IBM stays dedicated to Watson, our broader AI enterprise, and to the shoppers and companions we help in well being care IT. Via this transaction, Francisco Companions acquires information and analytics belongings that can profit from the improved funding and experience of a healthcare business centered portfolio.”
Francisco Companions is a world funding agency headquartered in San Francisco with greater than $30 billion in belongings. It focuses on tech corporations and tech-based investments. Its expertise with medical and well being care tech corporations consists of its present and previous investments in Availity, eSolutions, Capsule, GoodRx, Landmark, QGenda, Trellis and Zocdoc.
“We have now adopted IBM’s journey in well being care information and analytics for various years and have a deep appreciation for its portfolio of revolutionary well being care merchandise,” mentioned Ezra Perlman, copresident at Francisco. “IBM constructed a market main workforce and gives its prospects with mission vital merchandise and excellent service.”