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Babylon closes USD 200 Mn investment to boost rapid growth plan

Babylon closes USD 200 Mn investment to boost rapid growth plan
Babylon closes USD 200 Mn investment to boost rapid growth plan

Digital healthcare company Babylon Holdings Limited has reportedly secured an investment of around USD 200 million from AlbaCore Capital Group. This investment is linked with the sustainable growth plans of the company.

In consolidation with the already committed PIPE capital investment of USD 230 million from strategic and institutional investors, the London-based company will now have access to as much as USD 775 million of capital post the collaboration with Alkuri Global Acquisition Corp., with a minimum capital of USD 430 million which guarantees to boost the sustainable growth of Babylon.

Charlie Steel, the Chief Financial Officer of Babylon stated that AlbaCore, with its consistent emphasis on ESG (Environmental, Social, and Governance) engagement, is investing in the company. ESG is central to the mission of Babylon, which is to make quality healthcare affordable and accessible for every person on the planet.

From delivering top-quality healthcare to the underserved populations of Rwanda and rural America to the commitment towards Tech Zero for reducing carbon emissions, the team at Babylon is constantly challenging itself to do better, said Steel. He also added that with this investment, Babylon has more warranted capital to finance the continued expansion of the membership base and business operations of the company.

Bill Ammons, the Portfolio Manager, and the Founding Partner at AlbaCore Capital Group stated that the firm is pleased to announce this new collaboration with Babylon to bolster its growth plans for making healthcare affordable and accessible to everyone. He added that this investment is an instance of how strategic capital investors can have a significant and real social impact.

David Allen, the Chief Investment Officer and Managing Partner at AlbaCore Capital Group stated that AlbaCore and Babylon are ideal partners as creators of innovative solutions. The Group has commended Babylon on their proven capability to grow rapidly and deliver leading tech-based healthcare, which forms the basis of its investment, added Allen.

Source credits:

https://www.prnewswire.com/news-releases/babylon-secures-new-200m-sustainability-linked-investment-to-fuel-rapid-growth-plan-301395825.html

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