Temasek pumping US$800 million into Alphabet's medical unit
It will get minority stake and board seat in Verily; deal will help latter expand into China
San Francisco
ALPHABET Inc's medical arm, Verily Life Sciences LLC, is getting a major influx of cash from a Singapore investment company, boosting the odds of taking their futuristic approach to healthcare into Asian markets.
Temasek Holdings Pte Ltd, with US$415.8 billion in assets, is investing US$800 million in Verily, according to a statement from the company on Thursday. In exchange, Temasek will get a minority stake in Verily and a seat on its operating board.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance