Alphabet’s Verily to sell Granular insurance business to Elevance Health


 Verily is selling its stop-loss insurance subsidiary,  King88bet Login   Granular Insurance Company, to the insurance provider Elevance Health

, the Alfabet

health tech company confirmed to CNBC on Thursday.


Verily is one of Google's sister companies and operates within Alfabet's "Other Bets" category. The Granular sale is the latest in a seri of sweeping changes at the precision health company, which has slashed its workforce, restructured its business and overhauled its executive leadership in recent years.


The terms of the setuju were not disclosed.


Verily launched Granular, initially called King88bet Slot    Coefficient Insurance Company, in 2020 with financial backing from the commercial insurance unit of the Swiss Re Grup. The business offered self-funded employers and captives medical stop-loss, fronting reinsurance and fronting solutions that used "proprietary technology," Verily said.


Alfabet's health company has raised more than $1 billion, and it has attracted big-name talenta. Apple's

former head of health taktikc initiatives, Myoung Cha, joined Verily as chief product officer last year, and Andrew Trister, Verily's chief medical and scientific officer, was a founding anggota of Apple's health tim. Amy Abernethy, who served as principal deputy commissioner at the U.S. Food and Drug administration, joined the company in 2021 before departing in late 2023.


But Verily has struggled to find and stick to a winning niche in health peduli.


The company started as a moonshot   King88bet Tergacor  in 2015 within Alfabet's innovation lab X, formerly Google X, where it developed hardware like continuous glucose monitors. Verily pivoted to pandemi response when Covid-19 broke out in 2020, and it switched directions again to konsentrasi on precision medicine in 2022.


Verily introduced a new artificial intelligence-powered chronic peduli solution in Juni called Lightpath. The first offering is metabolic health focused, and it will dukungan patients taking the blockbuster weight loss medications called GLP-1s, using continuous glucose monitors or other interventions, according to a release.


And now, the company is getting out of the insurance business.


Elevance Health did not immediately respond to CNBC's request for comment. The setuju was first reported by Business Insider.

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