Babylon Health’s administrators have confirmed that two of the company’s divisions have been sold to US digital health business eMed, after an earlier bid to merge the group with Swiss tech firm MindMaze fell through.
After the merger fell through, Babylon said its US operations would be shut down immediately and placed into bankruptcy proceedings. Meanwhile, it put two of its business units – Babylon Group Holdings and one of its subsidiaries, Babylon Partners – into administration while it sought buyers.
Administrators Alvarez & Marsal said the sale to eMed had “secured the future of the Babylon UK operations, which provides technology-driven preventative healthcare services, alongside other traditional healthcare activities.”
The Babylon businesses have been bought by a newly formed subsidiary of eMed, called eMed Healthcare UK, for an undisclosed amount. They include a telehealth practice that serves people in the UK through contracts with providers like the private health group Bupa.
Full story on PharmaPhorum, 5 September 2023