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 led 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 extrapolating the numbers a little, it is implied that 119 million Americans are getting healthcare through a variety of gadgets, telehealth, and other channels, in addition to visiting physicians’ offices.
Only 14.6% of customers only used in-person healthcare services, while only 6.5% used digital channels to solve their healthcare requirements.
