Big Blue wants out of health care, after spending billions to stake its claim, just as rival Oracle is moving big into the sector via its $28 billion bet for Cerner.

IBM spent more than $4 billion to build Watson Health via a series of acquisitions.

The business now includes health care data and analytics business Truven Health Analytics, population health company Phytel, and medical imaging business Merge Healthcare. IBM first explored a sale of the division in early 2021, with Morgan Stanley leading the process.

WSJ reported at the time that the unit was generating roughly $1 billion in annual revenue but was unprofitable. Sources say it continues to lose money.