The deal between Google and Alcon is an important achievement for Novartis on its quest to continuously innovate technology in managing human diseases and health conditions.

With the company's known expertise in deep pharmaceuticals and medical device, these shall be enhanced further with Google's own expertise in replicating miniature versions of electronics. Furthermore, the company's unending ways to map and prevent diseases in the body will now be more feasible and reachable.

"Our dream is to use the latest technology in the miniaturization of electronics to help improve the quality of life for millions of people," says Google co-founder Sergey Brin. "We are very excited to work with Novartis to make this dream come true."

Novartis' Alcon division will be working hand in hand with Google's limelight-shy Google X division. Future projects that were lined up include the production of lenses with non-privacy intruding sensors, microchips and miniaturized electronics that would be embedded in order to monitor and check a diabetic person's insulin levels. Moreover, these embedded electronics have the capacity to help people who wear glasses in restoring their eyes' natural focus.

"This is a key step for us to go beyond the confines of traditional disease management, starting with the eye," says Novartis CEO Joe Jimenez.

The smart contact lens technology is designed to measure the eye's tear fluid which helps to give an account of the body's glucose levels. Through this method, glucose levels can be easily managed and closely monitored. Moreover, the technology can also have a successful wireless connection with a mobile device.

People who are suffering from presbyopia, or those who needed glasses when reading, can take advantage of the technology's accommodative vision correction feature. This will help their eyes to restore natural autofocus when viewing near objects. Referred to as "refractive cataract treatment," the patient will have to use intraocular lens or accommodative contact lens.

Last month, CEO Jimenez said in a meeting attended by analysts and investors that technology will play an integral role in pharmaceuticals now that patients have become more active in maximizing the benefits of health care. He further adds, "If you think about the convergence of biology and micro-processing today and things like remote patient monitoring and there can be a breakthrough in innovation that can help manage this aging population and this is going to be the key."

The financial side of the deal hasn't been disclosed yet. Apart from Google, companies such as Samsung and Apple are looking for new technology that would make their wearable technology a useful component of healthcare.