Francisco Partners, a global investment firm that specializes in partnering with technology businesses, completed the acquisition of healthcare data and analytics assets that were part of IBM’s (NYSE: IBM) Watson Health business, previously announced in January.
Under the ownership of Francisco Partners, the new standalone company will be called Merative and will be headquartered in Ann Arbor, Michigan.
Led by seasoned healthcare CEO Gerry McCarthy, Merative will provide offerings that deliver value across the global healthcare ecosystem, serving clients in life sciences, provider, imaging, health plan, employer, and government health and human services sectors. Products will be organized into six product families, including Health Insights; MarketScan; Clinical Development; Social Program Management and Phytel; Micromedex, and Merge Imaging solutions.
The investment, which include True Wind Capital and Sixth Street, will provide Merative with resources and opportunities for new investment, acquisitions, partnerships, and growth.
McCarthy has been in healthcare information technology for 30 years, most recently serving as CEO of eSolutions, a Francisco Partners portfolio company, which exited to Waystar in October 2020. Prior to eSolutions, he was the President of TransUnion Healthcare and an executive at McKesson.
Paul Roma, General Manager of the Watson Health business, will be transitioning to Senior Advisor to Francisco Partners.
