Google Announces Smart Contact Lens Project For Diabetics
This looks like a development in the Google Glass project. It's a natural progression, much like people move from normal glasses to contact lenses, Google must be thinking of a way to turn Google Glass into a contact lens product. [It would raise major privacy issues if businesses could not identify who is wearing Google Contacts] Using a medical application sounds like an innocuous foray--a test of concept.
That said, assuming no ulterior motive, it sounds like a worthy venture, especially if it improves upon current continuous glucose monitoring methods.