Health and Healthcare
Google Gets into Health Care with Launch of Calico Company, with an Apple Twist
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Google Inc. (NASDAQ: GOOG) is known for many efforts outside of traditional search and traditional technology. Some think this is a great move for the next generation, and some consider it a waste of company time and resources. Maybe you think of driverless cars, alternative energy, space tech, mapping and the like. Now there is Calico — Google’s new company that will focus on health and well-being, with a focus on aging and associated diseases.
Here is where this gets interesting. Art Levinson, who is chairman and former CEO of Genentech and who is chairman of Apple Inc. (NASDAQ: AAPL) will be CEO of Calico.
Larry Page said on his Google+ page:
OK … so you’re probably thinking wow! That’s a lot different from what Google does today. And you’re right. But as we explained in our first letter to shareholders, there’s tremendous potential for technology more generally to improve people’s lives. So don’t be surprised if we invest in projects that seem strange or speculative compared with our existing Internet businesses. And please remember that new investments like this are very small by comparison to our core business.
Page admits that there is not much more detail to share yet, but it will be coming soon.
What we at 24/7 Wall St. cannot help but wonder is whether this new effort will muddy the waters further between Apple Inc. (NASDAQ: AAPL) and Google Inc. (NASDAQ: GOOG). Surely Apple was consulted before this was announced, or so we would expect. We would remind readers that Google’s Chairman Dr. Eric Schmidt resigned from Apple’s board of directors back in 2009 after being on that board for about three years. This resignation was over territory and turf wars and Steve Jobs of Apple said at the time:
Unfortunately, as Google enters more of Apple’s core businesses, with Android and now Chrome OS, Eric’s effectiveness as an Apple Board member will be significantly diminished, since he will have to recuse himself from even larger portions of our meetings due to potential conflicts of interest. Therefore, we have mutually decided that now is the right time for Eric to resign his position on Apple’s Board.
Anyhow, stay tuned.
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