According to Sky News, Centene, one of the US’s largest healthcare companies, is investing millions of pounds in Babylon Healthcare, the company that developed the GP at Hand app now being used by the NHS.
Sky News reported that Missouri-based Centene, which has a market valuation in New York of more than $21bn (£17.3bn), is taking a $50m (£41m) stake in Babylon.
The investment is part of a funding round for Babylon Healthcare. Sky News reported that according to information circulated to Babylon’s investors this week, the funding round is being led by Saudi Arabia’s Public Investment Fund (PIF).
The Saudi sovereign fund is investing $200m, with Centene contributing $50m and Munich Re, the German reinsurer, becoming a third new shareholder by handing over $7m.
Full story Sky News, 1 August 2019