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Creditors count cost of Babylon's stock market rise and fall

Unsecured creditors of parts of a healthcare group behind a virtual GP service used by NHS patients are facing a deficit of about £300 million after it colla

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Online healthcare company Babylon places two units into administration

Online healthcare company Babylon places two units into administration
thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.

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Babylon virtual GP puts two divisions into administration

Company behind NHS’s GP at Hand app had been seeking rescue funding or a buyer for its businesses

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Digital healthcare company Babylon calls in administrators

Babylon, which was founded in 2013 by British-Iranian entrepreneur Ali Parsa, employs more than 650 people in Britain, according to Linkedin.

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Digital healthcare company Babylon calls in administrators

Babylon, which was founded in 2013 by British-Iranian entrepreneur Ali Parsa, employs more than 650 people in Britain, according to Linkedin.

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Contributed: Blank check-up uncovers a digital health SPAC attack


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The 2020s are on course to become the decade of the special purpose acquisition companies (SPACs), also known as "blank check" or "shell" companies. SPACs are set to outpace IPOs once again in 2021, after a record year that saw SPACs mature from a once obscure method of going public to a rabid, flavor-of-the-month frenzy amidst both institutional and retail investors.
The year of COVID-19 saw 227 SPACs top traditional IPOs for the first time in history, raising $76 billion, compared to 67 billion raised from traditional IPOs. The first two months of 2021 have so far generated 144 SPACs, raising $44 billion. Digital Health has certainly ridden the recent SPAC wave, with yet a few more splashes yet to come. 

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Inside the rise of $2 billion Babylon Health amid SPAC rumors


Babylon; Samantha Lee/Insider
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$2 billion health firm Babylon is considering a listing, likely via a SPAC deal, sources say.
Babylon is best known for an easy-to-use app that provides virtual appointments with doctors.
Insider spoke with Babylon's CEO, investors, analysts, and critics to chart the firm's journey.
At the beginning of this year, Babylon Health CEO Ali Parsa told his 2,000-strong staff in an all-hands that the firm's partnership with the Canadian telecoms firm Telus was under review.
Babylon partnered with Telus' health division in 2019 to launch a doctor app for Canadians that offers virtual consultations with clinicians and a whizzy "chatbot" symptom checker. The app is free for patients across Canada. Telus does not release user numbers but has said during quarterly results that the service has grown rapidly.

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