Babylon, the medical startup that connects patients and doctors via an app, is close to agreeing a deal to go public in a merger with Alkuri Global Acquisition, Bloomberg reports, citing people familiar with the matter.
Talks between Babylon and Alkuri, which is run by former Groupon executives, are in the advanced stages and a deal could be announced as soon as next week, the people said, asking not to be identified discussing confidential information.
The deal could value Babylon at about $3.5 billion. Alkuri has lined up investors to provide a PIPE of about $270 million to support the deal. It’s going ahead even as those financing PIPE deals begin writing smaller checks, which has delayed some transactions. Read more.
