Health is a big deal for Google. Two of its Alphabet companies are devoted to it. One of them, Life Sciences, recently named diabetes as its inaugural area of focus with other widespread diseases to come. Google’s co-founders (and Alphabet chiefs) are obsessed with massive, intractable medical problems.
Yet the company has given minimal disclosures on its nascent, multi-pronged initiatives in health care. Still, one investment bank believes Google’s efforts — which include inventions like its smart contact lens and miniature diabetes monitor, as well as its venture investments — could create its next multi-billion dollar business. In a sizable research note published last week, Cowen and Company wrote that Google’s moves “represent significant unlocked value” that will start becoming clearer as the company separates the finances of Google and Alphabet in the fourth quarter.