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Health Technology: Samsung, Apple and Google Face Off

With a focus on medical data, consumer tech stocks are turning into health stocks

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Google Health Technology

Have you heard of Google Health? The company took an early shot at online storage of personal health data but it failed to catch on and Google shut it down in 2012. With today’s proliferation of mobile sensors, more robust cloud storage capabilities and renewed public interest in health technology, the company appears ready to leave that early disappointment behind.

Healthcare Technology from GOOG includes Google Smart Lens
Source: Google

Source: Google

Google made an announcement at the start of this year for a smart contact lens that could measure glucose levels in tears. That may sound very specialized, but diabetes is big business and the billions of dollars sufferers spend on monitoring equipment, medication and treatment has helped to boost many health stocks. Reuters’ Christina Farr says Samsung and Apple are both interested in glucose monitors as part of their own health technology initiatives, hoping to capture a chunk of a business expected to be worth over $12 billion annually by 2017.

The big announcements from Google are expected to take place at Google I/O conference. The rumored Google Fit initiative is expected to mirror Apple’s HealthKit –aggregating biometric and fitness data from third party sensors. There may also be partner hardware announced, packing those sensors.

Stay tuned for our Google I/O coverage, because that’s where the Google pieces of the health technology puzzle are expected to fall into place. Whatever happens, expect 2014 to be mark the beginning of a much larger trend toward consumer tech companies beginning to move into territory previously dominated by health stocks as keeping track of your well being becomes even bigger business.

As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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