In keeping with Axios, IBM spent greater than $4 billion to construct Watson Well being by way of a sequence of acquisitions. The enterprise now contains well being care knowledge and analytics enterprise Truven Health Analytics, inhabitants well being firm Phytel and medical imaging enterprise Merge Healthcare.
IBM first explored a sale of the division in early 2021, with Morgan Stanley main the method, the report mentioned.
WSJ reported on the time that the unit was producing roughly $1 billion in annual income, however was unprofitable. Sources mentioned it continues to lose cash.
The report talked about that IBM in late 2021 engaged BofA Securities to discover a purchaser for Watson Well being. Bids have been due final week, in accordance with one supply who mentioned IBM hopes to pick the winner by month’s finish.
IBM and BofA declined to remark, however final 12 months IBM CEO Arvind Krishna acknowledged that generally the corporate has promised greater than it has delivered.