IBM Buying Truven for $2.6 Billion to Amass More Health Data
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IBM has agreed to buy Truven Health Analytics for $2.6 billion, its fourth acquisition in less than a year aimed at expanding in the business of combing through health-related data. The shares rose the most in three years.
More than more than 8,500 hospitals, insurers and government agencies use Truven to manage and analyze the reams of data generated by the health industry. Veritas Capital, a New York-based private equity firm, bought Truven in 2012 for $1.3 billion, according to company filings. The deal is expected to be completed later this year.
The acquisition of Ann Arbor, Michigan-based Truven will be International Business Machines Corp.’s biggest purchase in the three years under Chief Executive Officer Ginni Rometty. IBM has invested heavily in data and technology to improve its products and services for the health-care industry, centered on its Watson Health business unit. Watson is IBM’s collection of artificial-intelligence technologies used to interpret, analyze and predict data patterns. Adding more information from businesses like Truven will help IBM’s software work better and can provide more useful insights.
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