Google has recently signed an agreement with DexCom under which both the companies will be busy creating a series of disposable continuous glucose monitoring (CGM) devices that the companies claim will be smaller and more affordable than current options.

The companies claimed that the new device will be smaller and more affordable than the current options available. Andrew Conrad, head of the life sciences team at Google, said in a joint statement released by both the companies that they have committed to develop new technologies that will help move health care from reactive to proactive.

"This collaboration is another step towards expanding monitoring options and making it easier for people with diabetes to proactively manage their health", said Conrad.

Under the new collaboration DexCom's sensor technology will pair with Google's miniaturized electronics platform. Together, the two companies hope to develop a device with a bandage-sized sensor that will be connected to the cloud.

Google cofounder Larry Page emphasized on the importance of the company's Life Sciences effort, which has been working on a glucose-sensing contact lens.

A report on Medium revealed that the Life Sciences initiative will no longer be a part of Google X, and will operate as a separate company under the stewardship of its current leader, Conrad.

It has been said that Google's new partnership with the established player in the field of medical devices will further establish the company's seriousness about making real inroads into health care.

Hope Warshaw, a dietitian, diabetes educator and author of Eat Out, Eat Well, told Mashable that partnership between the two companies can catapult the development of new technology forward.