How Babylon Health went from $2B to bankrupt

Babylon Health, the London-based digital healthcare firm that was once valued at nearly $2 billion, filed for Chapter 7 bankruptcy of its two subsidiaries and looked to complete a sale of its U.K. businesses, TechCrunch reported Aug. 31.

The company had achieved success and signed lucrative remote care contracts even before the COVID-19 pandemic. In 2021, the company faced questions about its corporate governance and patient safety by U.K. regulators and clinicians. By 2022, the company was beginning to lose contracts with the National Health Services.

In 2023, Babylon had appeared to find a buyer in MindMaze but the deal fell through and the company filed for bankruptcy. 

To keep some of its operations going, Babylon sold a large portion of its assets to eMed Healthcare U.K.


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