Francisco Partners scoops up bulk of IBM’s Watson Health unit
In what has to be considered an anticlimactic ending, IBM sold off the data assets of its Watson Health unit to private equity firm Francisco Partners today. The two firms did not share the purchase price, but previous reports pegged the value at around $1 billion.
Under the terms of the deal Francisco is grabbing various pieces of the unit, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex and imaging software offerings. This gives Francisco Partners a broad range of health data under its umbrella.
AZB & Partners advised Francisco Partners Management L.P on the India law aspects of the transaction. The AZB & Partners team comprised of Partners Ashwath Rau, Vipul Jain, Aditya Alok and Veena Gopalakrishnan, and Senior Associate Rina Goyal.
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