Babylon Health, the online healthcare company behind the NHS's GP at Hand app, has put two of its divisions into administration, while some of its assets have been sold off.
Restructuring firm Alvarez and Marsal confirmed late on Wednesday that it had been appointed administrator of two of Babylon’s UK businesses, Babylon Group Holdings, its UK holding company, and Babylon Partners, its research and artificial intelligence division.
After Alvarez and Marsal became the administrators, Babylon’s clinical services business, which includes its GP at Hand app that serves 100,000 NHS patients, was sold to US business eMed Healthcare.
Alvarez and Marsal said the sale of assets to eMed Healthcare had “secured the future of the Babylon UK operations, which provide technology-driven preventative healthcare services, alongside other traditional healthcare activities, with over 700,000 patients having had access to Babylon's platforms in the UK”.
Andrea Jakes, managing director of Alvarez and Marsal Europe, said the asset sale “ensures the least possible disruption for Babylon users, which should continue to operate as normal.”
Babylon, founded in 2013 by Iranian-born entrepreneur Ali Parsa, was valued at $4.2 billon when it floated in New York via a special purpose acquisition company (Spac).
However, the shares subsequently crashed and Babylon was forced to cut staff and attempt to sell parts of its business.
Babylon announced in early August that a proposed deal with Albacore Capital and MindMaze Group would not go ahead and that the company was “exploring new strategic alternatives in order to find the best possible outcome for its UK business”.
The company claims that in 2021, it “helped a patient every six seconds, with approximately 5.2 million consultations and AI interactions”.
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
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UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
UAE currency: the story behind the money in your pockets
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