Google will offer its employees and its families who are suffering from cancer high-tech DNA testing to help identify the best drugs available to treat the condition. The tests, which are offered by Foundation Medicine, cost between $5,800 and $7,200.
The new tests will be made available to Google employees and their families from January 1, 2015.
According to Reuters, the chief executive of Foundation Medicine, Michael Pellini referred to the deal during a corporate earnings call on Wednesday. Google’s employees were made aware of the new benefit being included in their health portfolio last week, however the company has made no public comment. This latest health benefit is part of the ‘loyalty war’ in operation in Silicon Valley as the various technology giants battle to retain their best staff with more imaginative inducements.
In recent weeks, Apple and Facebook said that they would begin covering the cost of egg freezing for female employees.
In Silicon Valley, where software developers are in short supply, companies are competing to offer new health benefits as a key means to recruit and retain talent. Google’s investment arm Google Ventures has previously invested in Foundation Medicine. Google Ventures’ partner Krishna Yeshwant sits on Foundation Medicine’s board.
According to Foundation Medicine’s most recent filing with the Securities Exchange Commission the company reported revenue of $16.4 million during the third quarter of 2014 compared with $8.2 million the previous year. They said during the three-month period they performed almost 6,500 clinical tests and have more than 27,000 patient cases on their growing database…. see more
source: dailymail UK