The acquisition of the healthcare data and analytics assets that were a part of IBM's Watson Health business, has been completed, according to Francisco Partners, a renowned international investment firm that specializes in working with technology companies.
The new standalone business, which will be owned by Francisco Partners, will be known as Merative and have its headquarters in Ann Arbor, Michigan.
Merative serves clients in the life sciences, provider, imaging, health plan, employer, and government health and human services sectors by bringing together market-leading offerings that give value across the global healthcare ecosystem.
“Merative has market leading products, top clients and talented leadership. With the commitment, support and deep experience of Francisco Partners, we will invest heavily in expanding the reach of these products as we continue to work with clients to improve healthcare delivery, decision making and performance.”
Paul Roma, General Manager of the Watson Health business, is slated to transition to the role of Senior Advisor to Francisco Partners. “Paul has been instrumental in driving crucial transformation of the business. His relentless focus on customers has laid a solid foundation to build on, and we thank him for his leadership,” said McCarthy.