IBM May Be Selling IBM Watson Health to Focus on Cloud Computing
IBM is looking at a potential sale of its IBM Watson Health Business to streamline the company and become more competitive in cloud computing, according to a national news report.
The unit leverages artificial intelligence to help hospitals, insurers, and drug makers manage their data. Overall, the unit generated annual revenue of nearly $1.5 billion, but it is currently not profitable, The Wall Street Journal stated in its report breaking the news.
The unit’s brands include Merge Healthcare, which analyzes mammograms and MRIs, Phytel, which assists with patient communications, and Truven Health Analytics, which analyzes complex healthcare data.
The company paid nearly $2.6 billion for Truven in 2016, $1 billion for Merge Healthcare in 2015, and around $230 million for Phytel, according to FactSet.
The corporation is currently...