In fact, the life sciences business under Alphabet announced on Friday that it has raised $1 billion, which will be used to expand its data-driven healthcare products to individuals.
The round was led by Alphabet, the company said in a statement.
It has announced changes to the executive team from January 2023. Andy Conrad, the company’s founder, will become an executive director of Verily’s board. Stephen Gillett, the company’s president, will be promoted to CEO. Gillette joined Verily initially as an operational consultant and leading the company’s cybersecurity efforts. He was then the founder and CEO of Alphabet’s cybersecurity company Chronicle, which is now part of Google Cloud.
Deepak Ahuja will step down as CFO at the end of the month. Ahuja, the former and first CFO at Tesla, has been hired as the first head of finance and business at drone delivery and logistics startup Zipline. The company said Ahuja will continue as a consultant and a search for a new CFO will begin immediately.
The influx of capital and executive turnover comes as the red-hot healthcare sector, which has attracted tech giants such as Amazon and Apple, prepares for a new phase of growth. Earlier this year, Amazon acquired a medical primary care provider that uses physical, digital and virtual connections in its services in a $3.9 billion deal.
He is particularly interested in “precision health,” a term that refers to the use of research, clinical and nonclinical data, and computing power to provide health care that is customized to a person’s unique needs. In other words, Verley – born from Google X in 2015 – aims to use technology to provide medical services to individuals rather than everyone else.
In fact, he said the funds could be used to invest in strategic partnerships, international business development and acquisitions. The company has already formed several partnerships and completed at least one acquisition. In the year In 2021, the company acquired research software developer SignalPath to expand its clinical trial system. He has also collaborated with Lumea, L’Oréal, the Mayo Clinic and Microsoft.
