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This page contains historical news coverage for Babylon Holdings Limited (BBLN), which operated as a digital healthcare technology company before filing for Chapter 7 bankruptcy in August 2023. The company was delisted from the New York Stock Exchange following its financial collapse. This archive provides context on the company's history, business operations, and the events surrounding its bankruptcy.
Babylon attempted to revolutionize primary care delivery through an AI-powered telehealth platform serving patients in the United Kingdom and United States. News coverage documented the company's rapid expansion, SPAC merger to go public, partnerships with health systems and insurers, and ultimately its financial difficulties. Key developments included announcements of new market entries, value-based care contract wins, technology platform enhancements, and eventually cost-cutting measures and restructuring efforts.
The historical news archive traces Babylon's journey from a venture-backed digital health startup valued at nearly two billion dollars to its eventual collapse under mounting losses from value-based care contracts. Coverage includes regulatory challenges the company faced, clinical outcomes data releases, leadership changes, and strategic pivots attempted to achieve profitability. The bankruptcy filing and subsequent asset sales marked the end of operations for what had been one of the most prominent digital health companies.
This news archive serves as a historical record for investors, healthcare industry analysts, and researchers studying the digital health sector. The coverage documents the challenges of applying technology-focused business models to healthcare delivery and provides insights into the operational realities that led to Babylon's failure despite significant venture capital backing and public market enthusiasm.
Babylon (NYSE: BBLN) will host a conference call on May 10, 2023, at 8:00 AM Eastern Time, to discuss its first quarter financial results. A press release detailing the results will be available before the call. Participants can join by dialing (877) 407-7994 for the U.S., 0 800 756 3429 for the U.K., or +1 215-268-9868 internationally. Alternatively, the call will be accessible via a live webcast at babylonhealth.com. Babylon aims to revolutionize healthcare accessibility through its digital primary care services across 15 countries, supporting a diverse patient network and operational capabilities in 16 languages.
Babylon (NYSE: BBLN) has launched personalized, digital-first programs for high-risk members with chronic conditions, including diabetes, hypertension, and prenatal care. These initiatives are designed to provide evidence-based, real-time monitoring and support through integrated care teams. The company's technology gathers data to enhance patient engagement and health management. Babylon aims to improve health outcomes while reducing acute events and hospitalizations.
With a focus on empowering patients, Babylon's programs offer tailored care plans and ongoing support, particularly for underserved populations in rural areas. The company continues to expand its services globally.
Babylon Holdings Limited (NYSE: BBLN) reported significant financial growth for 2022, with revenue rising 3.5x year-over-year to $1.11 billion. The U.K. clinical services achieved profitability, and U.S. clinical services are expected to follow suit early in 2023. Key U.S. value-based care (VBC) contracts generated profitable medical margins in their first year. While Q4 2022's adjusted EBITDA was $(16.3) million, it outperformed expectations. The company anticipates achieving adjusted EBITDA profitability by mid-2024, earlier than previously forecasted. Babylon also introduced a new digital-first Commercial Exchange product, expanding its VBC membership significantly.
Babylon (NYSE: BBLN) will host a conference call on March 9, 2023, at 8:00 AM ET to discuss its fourth quarter and full year 2022 financial results. The company will issue a press release with the results prior to the call. Participants can join by dialing specified numbers for U.S., U.K., and international attendees or by accessing the live webcast on the Babylon investor relations website. Babylon is committed to making healthcare accessible globally, leveraging its digital-first primary care services across 15 countries and supporting operations in 16 languages.
Babylon Holdings Limited (NYSE: BBLN) anticipates revenue exceeding
Babylon (NYSE: BBLN) has announced a 1-for-25 reverse share split of its Class A ordinary shares, effective
