UK Digital health company, Babylon Health., could be receiving investment from Saudi Arabia’s sovereign wealth fund.
Babylon, which has developed an app that lets people book virtual appointments with their GPs and order prescriptions, is in the midst of raising capital to expand its operations in North America and expand in the Middle East and China. Babylon is reported to be trying to raise as much as $400m to pay for an aggressive expansion plan.
The late-stage discussions with Saudi Arabia’s sovereign wealth fund could result in it leading new funding round that is set to be announced next week, according to a report by the Financial Times.
Full story in The Telegraph, 30 July 2019