Undoubtedly, a company owned by Alphabet that provides health technology is preparing to expand its initiatives in precision health.
The funds, which came from a round lead by Alphabet, will be used “to support a range of the company’s key activities centered on real-world evidence creation, healthcare data platforms, research and treatment, and the underlying technology that enables this work,” according to a news statement.
The organization would also consider prospective investments in strategic partnerships, global business development, and acquisitions, the statement said.
Verily also revealed some changes to its management team in the release, promoting president Stephen Gillett to CEO and appointing business founder Andy Conrad to the position of executive chairman of the board. Both modifications take effect in January 2023.
The news release claims that Gillett joined Verily as an operational adviser in 2020 after leaving Google, and he later advanced to the post of chief operations officer. Additionally, he co-founded Chronicle, an Alphabet-owned cybersecurity company linked with Google Cloud, and served as its CEO. He has held senior positions at Symantec, Starbucks, and Best Buy in the past.
The investment was undertaken at a time when healthcare, which had traditionally relied on paper checks, paper charts, invoices, and faxes, has made “the omnichannel leap,” according to a study.
46% of consumers said they meet with their healthcare providers both online and offline to receive the treatment they need, according to CareCredit’s “The ConnectedEconomy: Omnichannel Healthcare Takes Center Stage” report.
By a little amount of extrapolation, it is estimated that 119 million Americans receive healthcare in addition to going to doctors’ offices through a variety of devices, telehealth, and other channels.
Solely 6.5% of clients used digital channels to meet their healthcare needs, compared to 14.6% who only used in-person services.
