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Inside the disruptive rise of $2 billion Babylon Health, which sources say is considering a multibillion-dollar SPAC in 2021

Inside the disruptive rise of $2 billion Babylon Health, which sources say is considering a multibillion-dollar SPAC in 2021

Babylon Health CEO, Ali Parsa.
Babylon; Samantha Lee/Insider




$2 billion health firm Babylon is considering a listing, likely via a SPAC deal, sources say.




Babylon is best known for an easy-to-use app that provides virtual appointments with doctors.




Insider spoke with Babylon's CEO, investors, analysts, and critics to chart the firm's journey.




Visit the Business section of Insider for more stories.


At the beginning of this year, Babylon Health CEO Ali Parsa told his 2,000-strong staff in an all-hands that the firm's partnership with the Canadian telecoms firm Telus was under review.Babylon partnered with Telus' health division in 2019 to launch a doctor app for Canadians that offers virtual consultations with clinicians and a whizzy "chatbot" symptom checker. The app is free for patients across Canada. Telus does not release user numbers but has said during quarterly results that the service has grown rapidly.Insider understands that Babylon will sell the Canadian operations to Telus and that it has signed a multi-year licensing deal to continue providing its software for the venture in a $70 million agreement."As such, we came to the conclusion that it would make more sense for one party to own the operations in Canada and another party to focus solely on the delivery technology," Parsa said at the all-hands, according to remarks obtained by Insider.
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