Verily CEO tells staff the sale of its insurance business is a 'strategic win' as the deal closes

Verily CEO Stephen Gillett.

Business Wire

• Elevance Health's acquisition of Verily's insurance business has closed.
• Verily's CEO told staff in a memo that the sale will strengthen the company's financial position.
• Verily has been on a mission to shed projects and pivot to AI as it eyes life beyond Google's walls.

Alphabet life sciences unit Verily has officially sold its insurance business to Elevance Health, its CEO told employees last week, as the company continues to shed projects and focus on AI.