The owners of digital health platform Babylon are reportedly considering taking the company private less than a year after listing on the Nasdaq via a SPAC merger.
Babylon, founded by its CEO Ali Parsa, has been holding preliminary discussions with some investors about how to address a crumbling share price that’s wiped almost $4 billion off its value since its October 2021 listing in New York, sources reportedly tell Bloomberg.
Babylon has dismissed the claims as market gossip.
The company went public via a merger with Alkuri Global Acquisition run by former Groupon Inc. executives. The transaction reflected an initial pro forma equity value of approximately $4.2 billion. Read more.
