Earlier this year, IBM sold its Watson Health data assets to PE firm Francisco Partners, marking the end of its push to transform healthcare through artificial intelligence. Now Francisco Partners has spun off the Watson assets into a standalone firm, Merative.

The move is designed to bring the company’s health data offerings to providers and government entities as well as the life sciences businesses IBM originally targeted. The goal, the company said in a statement, is “to improve healthcare delivery, decision-making and performance.”

The announcement comes on the heels of several trying years for IBM Watson, when the organization proved unable to deliver on many of its ambitious promises. For instance, STAT reported that IBM Watson wasn’t able to get its software to analyze patient medical records reliably.

That investigation found that several of IBM Watson’s customers ended their relationships with the company because it “never invested in the technology needed to do the job we were being asked to do,” a former IBM Watson employee told the publication.

Project Josephine, an effort to fix problems with its natural language processing offering, similarly fell short. Its failure prompted an executive exodus, including Dr. Andrew Norden (deputy chief health officer of Watson Health) and Dr. Patrick McNeillie (clinical lead of Watson for Genomics).

In some ways, Merative appears to represent an attempt to redeem those previous blunders – and resuscitate the reputation of what used to comprise IBM Watson.

On its website, Merative lists six main areas of work it plans to be involved in: clinical decision support, clinical development, enterprise imaging, healthcare analytics, social program management and real-world evidence. It also touts six product lines.

The company promises to bring “technology and expertise to clients across healthcare through industry-leading data and analytics solutions,” said Francisco Partners co-president Ezra Perlman and principal Justin Chen in a statement. “Our ownership will help Merative drive crucial focus in executing on organic and inorganic growth strategies.”

But whether Merative can fully realize the initial promise of IBM Watson is anyone’s guess.

“There is an enormous risk to our credibility as marketers when we drive hype cycles,” Hans Kaspersetz, Relevate Health Group chief innovation officer, told MM+M last year. “As we move into the next evolution of development around artificial intelligence and machine learning, it’s critical that we demand transparency into the research that supports it, into the data sets and training corpuses that are used, and into the algorithms so that we can ensure there’s not systemic or implicit bias and that we can reproduce the outcomes in a scientific way.”

Though Merative is distancing itself from IBM Watson’s troubles, the company isn’t hiding ties to its past. The company claims a “half-century of history” on its website, starting with IBM innovations from as early as 1973. The last item on the timeline? Merative’s birth in 2022.