The healthcare data and analytics company formerly known as IBM Watson has rebranded to Merative, reflecting its acquisition by Francisco Partners.
The new standalone company, based in Ann Arbor, Mich., is set to be led by CEO Gerry McCarthy, who most recently served as CEO of eSolutions, according to a June 30 news release. The company will have "significant resources and opportunities for new investment, acquisitions, partnerships and growth," the release said.
"We appreciate IBM’s work in developing this business, and our ownership will help Merative drive crucial focus in executing on organic and inorganic growth strategies," Ezra Perlman and Justin Chen, co-president and principal of Francisco Partners, respectively, said in the release. "Francisco Partners is excited about the opportunity to partner with the team and employees at Merative to help them achieve their mission, bringing technology and expertise to clients across healthcare through industry-leading data and analytics solutions."