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By Catholic Online (NEWS CONSORTIUM)

9/19/2013 (1 year ago)

Catholic Online (www.catholic.org)

New comapny 'Calico' will focus on aging and deadly illness.

Google is getting into the healthcare business as a side venture as a way to reinvest some of the revenues it collects from advertising. The new company will focus on life-threatening diseases as well as conditions related to aging. The health venture will run separately from Google itself.

The current issue of Time discusses Google's venture.

The current issue of Time discusses Google's venture.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

9/19/2013 (1 year ago)

Published in Health

Keywords: Google, Calico, healthcare, company, death, aging


LOS ANGELES, CA (Catholic Online) - Google CEO Larry Page came out online with a posting that  displayed the expected optimism for such a venture. "While this is clearly a longer-term bet, we believe we can make good progress within reasonable timescales with the right goals and the right people," he posted.

The new company will be called "Calico," and details on its operations are still speculative. It is understood that health issues are a topic of concern for both Google founders, Larry Page and Sergy Brin. Page has recently been diagnosed with  a chronic nerve condition as well as a thyroid problem, although neither condition appears to be life-threatening.

Apple Inc. and Genetech chair, Art Levinson, will lead Calico.

Page also said he is at increased threat for Parkinson's disease, something he learned as a result of genetic testing.

Google has made Page and Brin very wealthy and its stock is considered by many to be a blue chip choice. With surplus cash on hand, the company has reinvested its profits in a variety of innovative projects including self-driving cars, wearable computers, and a plan to beam wireless internet to the most remote parts of the world using balloons.

"Don't be surprised if we invest in projects that seem strange or speculative compared with our existing Internet businesses," Page wrote on his Google+ profile. "And please remember that new investments like this are very small by comparison to our core business."

So far, investors have remained neutral about the announcement, and Google share price remains virtually unchanged since Wednesday.

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