Francisco Partners, a global investment firm that specialises in partnering with technology businesses, has completed the acquisition of healthcare data and analytics assets that were part of IBM’s 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.
Merative brings together market-leading 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.
Seasoned healthcare CEO Gerry McCarthy has been tapped to lead the new organisation. 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, Gerry was the President of TransUnion Healthcare and an executive at McKesson.
True Wind Capital and Sixth Street are investing in Merative. True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies, and the team has a long-standing track record of partnering with healthcare businesses. Sixth Street is a global investment firm that uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth.
