IBM Corp. will sell software to a startup that helps customers track their health, according to the company’s chief executive.
John Cannon said he believes the startup will be the first of its kind to allow IBM customers to track their weight and diabetes.
The company plans to work with the team that built the platform, he said in an interview.
Cannon said the team will work with IBM to develop the software to be available to IBM’s other customers.
He didn’t specify when the software will be available.IBM will sell the software, Cannon said, for $25 million to $35 million.
The technology, called the IBM System Management Agent, is part of the IBM health tracking suite.
It collects data on the types of medications patients take and the duration of their prescriptions.
IBM, a division of IBM Corp., has struggled to find new ways to track the health status of its millions of customers.
The health system has struggled in recent years with high costs and declining enrollment.
In January, IBM disclosed that it had a $30 billion debt and $45 billion cash balance.
The companies revenue in the second quarter fell 17% to $8.8 billion, the largest decline in four years.IBI, which is the world’s largest maker of software and services, has struggled with a slowing economy.
The stock has been hammered by bad news in recent months, including a surge in a government program to help unemployed workers.