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IBM reportedly mulling spinoff of $1B Watson Health unit
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IBM Corp. is said to be looking at offloading its Watson Health healthcare technology unit, possibly through a sale or a merger with a special-purpose acquisition company.
The Wall Street Journal reported on the discussions late Thursday, citing multiple sources familiar with the matter. The tipsters didn’t say what price IBM is targeting for the prospective sale. But they did share some financial information about the Watson Health unit itself, which is reportedly generating about $1 billion in annual revenues and currently isn’t profitable.
Watson Health sells analytics tools, artificial intelligence software and other products for the healthcare sector. One of its offerings is Health Insights, a data warehouse that allows organizations such as hospitals to gain insights into questions like how to increase their operational efficiency. The unit also provides more specialized products, i