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Wednesday, September 10, 2014

Google buys high-tech spoon maker, expands healthcare focus, (NASDAQ: GOOG)

Google Inc has acquired the maker of a high-tech spoon that helps people suffering from neurodegenerative tremors to eat, the Internet company's latest foray into the healthcare and biotechnology market. The company is joining the Google division, which focuses on projects such as self-driving cars and drones and which has a Life Sciences group, Google said on Wednesday.Google did not say how much it paid for Lift Labs.Lift's tremor cancellation spoon, which costs $295, will continue to be available for sale, Lift said on its website on Wednesday. A sensor-packed handle on the spoon detects the hand tremors that afflict people with Parkinson's disease and Essential Tremor, and uses technology to stabilize itself.Google said in a post on its Google+ service on Wednesday that it would also explore how Lift's technology "could be used in other ways to improve the understanding and management of neurodegenerative diseases such as Parkinson's disease and essential tremor."

Google Inc. (Google), is a global technology company. Shares of GOOG traded higher by 0.35% or $2.04/share to $583.05. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1540510 shares of GOOG exchange hands on a given day and today's volume is recorded at 674162.