1/4/2019, 5:54 AM (Source: TeleTrader)
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Alphabet's Verily secures $1B in financing

Alphabet's subsidiary and life sciences research organization Verily raised $1 billion in capital in its most recent investment round.

The funding will "support growth in key strategic areas, including investments in strategic partnerships, global business development opportunities, and potential acquisitions," the company said in a press statement.

"We are taking external funding to increase flexibility and optionality as we expand on our core strategic focus areas," Verily CEO Andrew Conrad stated, adding that a "well-rounded group of seasoned investors, led by Silver Lake, will further prepare us to execute as healthcare continues the shift towards evidence generation and value-based reimbursement models."

Breaking the News / MD