Babylon, MindMaze Merger Called Off

Alkuri Global Acquisition

Babylon Holdings announced that the proposed merger with MindMaze will not proceed.

Following Babylon’s receipt of funding under its amended bridge notes facility with AlbaCore Capital, Babylon has no binding commitment for additional financing to continue its business operations.

Babylon, a multinational digital health, had accepted a take-private proposal from AlbaCore Capital on behalf of its affiliate digital-neurotherapy company MindMaze.

Babylon went public via an October 2021 merger with Alkuri Global Acquisition, a SPAC run by former Groupon executives. The transaction reflected an initial pro forma equity value of approximately $4.2 billion.

Total
0
Shares
Related Posts
Read More

Nomi Health Acquires Arizona Clinic 

Based in Orem, UT, Nomi Health manages $150 billion+ in healthcare spend, analyzes more than $500 million in employer healthcare claims, has 3,000+ customers, and has delivered care to 12 million+ individuals.