South San Francisco, Calif. – January 3, 2019 – Verily, an Alphabet company, today announced a $1
billion investment round, led by Silver Lake, as it advances plans on business strategies that are additive
and complementary to its current life sciences portfolio. Other new investors in the round include Ontario
Teachers’ Pension Plan and other global investment management firms. The capital raised will support
growth in key strategic areas, including investments in strategic partnerships, global business
development opportunities, and potential acquisitions. Financial terms of the transaction were not
disclosed. Ruth Porat, chief financial officer at Alphabet, and Egon Durban, managing partner and
managing director of Silver Lake, will be nominated to join Verily’s operating board.
“We are taking external funding to increase flexibility and optionality as we expand on our core strategic
focus areas,” said Andrew Conrad, CEO of Verily. “Adding a well-rounded group of seasoned investors,
led by Silver Lake, will further prepare us to execute as healthcare continues the shift towards evidence
generation and value-based reimbursement models.”
“Verily’s unique capabilities, world-class partnerships and bold vision are enabling the company to tackle
the most significant problems impacting global healthcare,” said Egon Durban. “We look forward to
working with Andy and the entire Verily team in their mission to use cutting-edge science and technology
to change the paradigm of care delivery and improve clinical outcomes.”
Goldman Sachs & Co. LLC acted as financial advisor to Verily.
About Verily Life Sciences
Verily is a life sciences research and engineering organization focused on improving healthcare outcomes
by applying the latest scientific and technological advances to significant problems in health and biology.
By combining unparalleled capabilities in data organization and analytics services with robust scientific
and product engineering expertise, Verily is targeting the dual objectives of creating tools and
user-friendly platforms that capture a deeper and broader set of health data and organizing the data so that
it is useful and actionable. Verily partners with leading life sciences, medical device and government
organizations to leverage deep domain expertise and resources that enable exponentially faster
development, meaningful advancements and deployment at scale. For more information, visit
www.verily.com.
About Silver Lake
Silver Lake is the global leader in technology investing, with about $45.5 billion in combined assets under
management and committed capital and a team of approximately 100 investment and value creation
professionals located in Silicon Valley, New York, London and Hong Kong. Silver Lake’s portfolio of
investments collectively generates more than $225 billion of revenue annually and employs more than
390,000 people globally. For more information about Silver Lake and its entire portfolio, please visit
www.silverlake.com.
Press Contact:
Carolyn Wang
carolynwang@verily.com
415-736-2437
