"US Stock" – Google News
Babylon is said to be weighing a US public offering that could value the health app at $ 4 billion (£ 2.8 billion)
Bloomberg reported that several bank check firms reached out to the digital health company, which offers remote consultations with doctors, to go public on a Spac deal.
Continue reading: Delays in NHS software are a headache for digital health company Babylon
The London-based company is also believed to be considering a traditional IPO in the US.
Babylon, which operates the GP at Hand app for the NHS, has benefited from increasing demand for digital health services during the pandemic.
The company has also sought further expansion in the US and made a number of senior C-suite appointments to help run its business in the country.
It comes after Babylon withdrew from China by ending a partnership with Tenchat’s own Wechat.
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Babylon, founded in 2013 by former Goldman Sachs banker Ali Parsa, was last valued at USD 2 billion after a USD 550 million financing round led by the Public Investment Fund in Saudi Arabia.
The latest records available to Babylon Healthcare Services Limited show the company posted an operating loss of £ 1.8 million, with the number of GP at Hand users increasing to 75,000.
A Babylonian spokesman declined to comment.