Google's life sciences division Verily moves headquarters to Dallas

After dipping its toe in Dallas, Google's life sciences division is ready to take a new step.

Alphabet-owned health care software company Verily said Wednesday it will move its headquarters from South San Francisco, California, to Dallas later this quarter, less than three years after opening an office in North Texas. Verily specializes in technology solutions to common health problems, from apps that monitor diabetes patients to retinal screening devices and data analysis tools.

The company said its main operations will move to Verilys' sprawling offices in Cypress Waters, which currently employ more than 60 people, but other offices will continue to operate and employees elsewhere will not be affected by the decision.

Related: Elon Musk says SpaceX will move its headquarters from California to Texas

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Verily said in a statement that it recognizes that the Dallas/Fort Worth region is a growing epicenter of healthcare and technology innovation, and that healthcare plays a vital role in the local economy and community. Since opening its Dallas office three years ago, Verily has received strong support from government leaders, the Chamber of Commerce and other strategic healthcare stakeholders, positioning it to play a key role in Texas' growing healthcare and technology ecosystem.

Verily is one of Alphabet's other big players, a collection of technology companies across a range of industries. Early funding rounds that approached or reached $1 billion in 2017, 2019 and 2020 were encouraging for Verily, but the company has struggled to turn a substantial profit since then. The Wall Street Journal reported that Verily missed its 2022 revenue target by $17 million, leading to more than 200 job cuts as Alphabet seeks to cut costs.

Companies like Verily tend to cite expanding reach for talent, centralizing headquarters and taking advantage of the region's business-friendly environment as reasons for relocating to Texas, so Verily's move to Dallas represents an increasingly popular pipeline among life sciences companies in recent years and is the latest step in transforming North Texas into one of the nation's fastest-growing biotech hubs.

The lobby of Verily's Dallas offices. (Courtesy of Verily)

Pharmaceutical distributor McKesson Corp. moved its headquarters to Irving in 2019 and is now the region's largest publicly traded company. Dallas is also home to some of the state's largest health care companies, including Baylor Scott & White Health, UT Southwestern Medical Center and Tenet Healthcare.

Dallas-based NexPoint plans to turn its 1.6 million-square-foot corporate campus into a sprawling medical and bioscience complex with hotels and apartments, while Plano is building a multibillion-dollar life sciences campus. And last year, the U.S. Department of Health and Human Services announced that the Dallas Pegasus Park Biotechnology Campus would be home to one of three sites for its Advanced Research Projects for Health, which will focus on patient access and diversity.

Verily becomes the latest company to move its headquarters from California to the state, following the headquarters of space exploration and rocket company SpaceX and social media site X, formerly known as Twitter. The leader of both companies, Elon Musk, moved the headquarters of electric car giant Tesla to Texas in 2021.

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