Google Struggles In Healthcare Sector

Google parent Alphabet Inc. is laying off more than 200 employees at its Verily Life Sciences healthcare unit, about 15% of its workforce.  The division will discontinue work on a medical-software program called Verily Value Suite, as well as a number of early-stage products.  Verily has largely been focused on applying data and technology to patient treatments, including a virtual diabetes clinic.

Tech Giants Jump Into Rapidly Growing Healthcare Business : By Derek Baine

A doctor holding a stethoscope with his hand

Google parent Alphabet Inc. and hospital chain HCA Healthcare struck a deal this week to develop algorithms using patient records which could help physicians make more informed decisions about patient care.  They aren’t the only ones to jump into the rapidly growing healthcare space.  JPMorgan Chase is investing $250 million in startups and technologies which are meant to make healthcare more efficient and effective.  Amazon.com and Walmart have also partnered on primary care which will enable them to push their prescription pharmaceuticals business.  The U.S. is projected to spend about $4 trillion on healthcare this year (according to the Centers for Medicare and Medicaid Services). That’s roughly 20% of GDP so it’s no big surprise that these big companies are jumping into this fast growing sector.

https://www.wsj.com/articles/amazon-and-walmart-have-an-rx-for-healthcare-the-cure-wont-be-easy-11622194240