Join the club for FREE to access the whole archive and other member benefits.

Babylon to become a public company via $4.2bn merger with Alkuri Global

08-Jun-2021

Key points from article :

UK digital health provider Babylon has announced plans to become a public company following a $4.2bn merger.

The company has entered into a definitive merger agreement with special purpose acquisition company Alkuri Global.

It will give the healthtech company a pro forma equity value of $4.2bn.

The merger is expected to be completed in the second half of 2021.

“We are at the very beginning...to make it digital-first and prevention-first and shift the focus away from sick care to true health care,” - Ali Parsa, founder and chief executive of Babylon.

The merger is expected to deliver up to $575m gross proceeds, including up to $345m from Alkuri Global.

Several external investors, including Palantir, have helped fund a $230m private placement.

Recently Babylon has signed major deals with The Royal Wolverhampton NHS Trust, University Hospitals Birmingham NHS Foundation Trust and Royal Berkshire NHS Foundation Trust.

Funds to help this digital health company take a leap in offering quality healthcare

Mentioned in this article:

Tap on icon for description, click on resource name for more details.

Company Representative

Founder and CEO of Babylon

Company

Empowering visionary entrepreneurs

Company

Public company specialized in big data analytics

Health Organisation

National Health Service hospital in the town of Reading.

Health Organisation

Largest acute and community providers in the West Midlands