Verily's Granular Insurance Business to Be Acquired by Elevance Health

February 6, 2025 - 20:58

In a significant development for the healthcare sector, Verily's CEO Stephen Gillett announced to employees that the company's Granular insurance division will be sold to Elevance Health. This strategic move marks a pivotal moment for Verily as it seeks to streamline its operations and focus on its core competencies in health technology and data analytics.

The acquisition is expected to enhance Elevance Health's portfolio, allowing the company to expand its services and reach in the insurance market. Gillett emphasized that the decision aligns with Verily's long-term vision of leveraging technology to improve health outcomes and drive innovation in the healthcare industry.

As the transaction progresses, both companies are poised to benefit from the integration of Granular's capabilities into Elevance Health's existing framework. Employees are encouraged to remain focused on their ongoing projects during this transition period, as leadership works to ensure a smooth handover. This acquisition is anticipated to create new opportunities for growth and collaboration in the evolving landscape of healthcare services.