The news: Verily announced a whopping $1 billion investment (led by parent company Alphabet) to support Verily’s business expansion focused on precision health, according to the company.
Healthcare remix: Verily reshuffled its leadership to focus on healthcare—namely plans to hire a new healthcare-focused CFO.
Alongside the investment announcement, Verily also announced its CFO, Deepak Ahuja, will step down as the company searches for a new CFO “with a deep healthcare background for the next phase of [its] growth,” per Insider.
The first signal: Last year, Verily acquired clinical trial management platform SignalPath—marking its first major acquisition and signaling a stronger healthcare focus.
What’s next? We could see Verily integrate its freshly funded precision medicine initiatives with its clinical trial business.
Integrating the two businesses could help with a major limitation of clinical trials: a lack of diverse participants.
This article originally appeared in Insider Intelligence's Digital Health Briefing—a daily recap of top stories reshaping the healthcare industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
Want to learn more about how you can benefit from our expert analysis? Click here.
11 Times SquareNew York, NY 100361-800-405-0844