Alphabet is really to sell insurance businesses to Elevance Health

It is really selling its Stop-Loss insurance subsidiary, Granular Insurance Company, to the Insurance Supplier Elevation healthhe Alphabet Health Tech Company confirmed CNBC on Thursday.

It is really one of Google’s sister companies and operates within the category of “other bets” of Alphabet. The granular sale is the last of a series of radical changes in precision Health Company, which has He cut his workforceHe restructured his business and reviewed his executive leadership in recent years.

The terms of the agreement were not revealed.

Actually launched Granular, initially called coefficient insurance company, in 2020 with financial support of the Commercial Insurance Unit of the Swiss Re. The business offered self -financed and captive employers, the medical loss, the front of the front and the front solutions that used “patented technology,” said Verily.

Alphabet’s Health Company has raised more than $ 1 billionand has attracted the renowned talent. Apple Former Head of Strategic Health Initiatives, Myoung Cha, really joined as a product director last yearand Andrew Trister, the main medical and scientific officer of Trueily, was a founding member of the Apple health team. Amy Aberneshywho served as the main attached commissioner in the drug and food administration of the United States, joined the company in 2021 before leaving at the end of 2023.

But he has really struggled to find and follow a winning niche in medical care.

The company began as a moon in 2015 within the Alphabet X Innovation Laboratory, previously Google X, where it developed hardware as continuous glucose monitors. In truth, he pivot the pandemic response when Covid-19 exploded in 2020, and changed the addresses to focus on precision medicine in 2022.

In truth, he introduced a new chronic care solution with artificial intelligence in June called Path. The first offer focuses on metabolic health, and will support patients who take medications to lose weight of great success called GLP-1, using continuous glucose monitors or other interventions, according to a release.

And now, the company is leaving the insurance business.

Elevance Health did not respond immediately to the request for comments from CNBC. The agreement was first reported by Business intern.

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