Merative is a carve-out of the healthcare IT assets from IBM (NYSE: IBM) that were associated with the Watson Health business. Completed in June 2022, the acquisition includes an asset portfolio of six product families that have collectively been rebranded as “Merative.” Expanding on True Wind’s range of experience with carve out deals, Merative is the firm’s first investment in Heathcare IT and represents a tent-pole platform given the company’s vast exposure and varied assets within the industry.