Babylon Health, a digital-first health company in London, is expanding into the U.S. with a $4.2 billion merger with Nashville, Tenn.-based Alkuri Global Acquisition.
In a June 3 news release, Babylon said it entered into a definitive merger agreement and upon closing the transaction, the combined company will operate as Babylon.
Three details:
- The transaction is valued at approximately $4.2 billion and is expected to close in the second half of 2021. Following the merger, Babylon plans to become publicly traded on Nasdaq under the symbol "BBLN."
- Babylon will retain its leadership team. Ali Parsa, PhD, will continue to serve as the CEO and chair of the board, and an Alkuri Global representative will join Babylon's board of directors.
- Babylon serves patients through its digital-first care service, Babylon 360, and its suite of digital self-care tools, Babylon Cloud Services. Across both channels, Babylon serves 24 million people across the United States, Canada, Europe, Africa and Asia.