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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

Published Fri, Jan 27, 2017 · 09:50 PM
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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.

"With a substantial network and insights into the economies in Asia, Temasek will provide valuable guidance as we look to ex-US markets with our development partners," Verily chief executive officer Andrew…

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