Filed under Health · 2023
Babylon Health
2013 - 2023, 11 years old
AI-driven symptom checker and virtual primary care service that contracted with the NHS and US insurers.
Babylon raised over a billion dollars and went public via a $4.2B SPAC in 2021, but the economics of full-risk Medicaid and Medicare contracts in the US collapsed faster than the AI symptom checker could justify, and the share price cratered. A planned take-private deal with MindMaze fell apart in August 2023, and the US entity filed Chapter 7 liquidation while the UK arm went into administration weeks later. UK assets were sold to eMed for half a million pounds, a near-total wipeout from the SPAC valuation.
- Founded
- 2013-01
- Shut down
- 2023-08-15
- Funding raised
- $1.1B
- Years alive
- 11
- Founders
- Ali Parsa