Continuing its analytics-related push, IBM today announced plans to acquire Truven Health Analytics, a leading provider of cloud-based healthcare data, analytics and insights, for a whopping $2.6 billion. The deal will make IBM Watson Health one of the world’s largest and most diverse repositories of health-related data.
Truven Health Analytics, which currently owned by investment firm Veritas Capital, will bring more than 8,500 clients, including U.S. federal and state government agencies, employers, health plans, hospitals, clinicians and life sciences companies to the IBM Watson Health portfolio. With this deal, IBM Watson Health has now a marquee roster of partners and clients, which include Apple, Medtronic, Johnson & Johnson, Novo Nordisk, and CVS Health. IBM plans to integrate Truven’s cloud-based technology, methodologies and extensive health claims data sets with the Watson Health Cloud platform for providing cloud-based healthcare analytics and data sharing.
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Founded in 2012 and headquartered in Ann Arbor, Michigan, Truven Health Analytics is a multinational health care company that provides healthcare data management, analytics, services and consulting to customers across the healthcare industry including hospitals, government agencies, employers, health plans, clinicians, pharmaceutical, biotech and medical device companies. Truven Health Analytics owns some of the most trusted brands in healthcare: MarketScan®, 100 Top Hospitals®, Advantage Suite®, Micromedex®, Simpler, ActionOI® and JWA. Formerly the healthcare business of leading intelligent information firm Thomas Reuters Truven, on April 2012, Thomas Reuters agreed to sell Truven to Veritas Capital Management Fund LLC for $1.25 billion.
Truven is IBM’s fourth major health-data related acquisition since launching the Watson Health unit in April 2015. The deal follows other IBM’s health-data related acquisitions, which include medical imaging software firm Merge Healthcare, patient data analysis software firm Phytel and clinical database provider Explorys.
Once completed, IBM will have invested more than $4 billion to acquire and build an unparalleled array of cognitive healthcare capabilities intended to improve health outcomes, control costs, and advance value-based care solutions.
Deborah DiSanzo, General Manager for IBM Watson Health, said in a statement:
“With this acquisition, IBM will be one of the world’s leading health data, analytics and insights companies, and the only one that can deliver the unique cognitive capabilities of the Watson platform,” and also added this: “Truven’s impressive team, extensive client roster, and expansive data sets complement Watson Health’s broad-based team, capabilities and offerings. Together, we’re well positioned to scale globally and to build first-in-class offerings designed to help our clients apply cognitive insights in a value-based care environment.”
Mike Boswood, President and CEO, Truven Health Analytics, said in a statement:
“The Truven Health Analytics team is eager to combine our capabilities and expertise with the Watson Health portfolio,”and also added this: “This will help catapult the industry forward to transform healthcare and to save and improve lives.”
The deal, which is subject to satisfaction of customary closing conditions and applicable regulatory reviews, is expected to close later this year.