This plant was selectively bred for centuries by settlers. It is sometimes also called "healer's hand" by tribespeople - a nickname it owes to its five major medicinal virtues. Planted in the growing zone or Hydroponics basins. Grow to make herbal medicine.
It may be worth walling off your healroot, as wildlife is more than inclined to consume it, hindering your overall herbal medicine production. A herd of Thrumbos (or even a single for that matter) will be destructive to your Healroot farm if left unprotected.
In Alpha 13 this plant was renamed to Healroot. Its previous name was Xerigium and may be referenced as such in a number of older guides across the internet.
As of Alpha 17 there is a variety that can be found growing in the wild, known as Wild healroot. It is functionally identical except it can't be cultivated manually.