News Formal

UK start-up Babylon Health to reportedly receive investment from Saudi wealth fund

  • 📰 CNBC
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Saudi Arabia's sovereign wealth fund is reportedly planning to invest in U.K. start-up Babylon Health, in a deal that would put give the company 'unicorn' status.

Saudi Arabia's sovereign wealth fund is reportedly planning to invest in U.K. start-up Babylon Health, in a deal that would put give the company "unicorn" status.

The exact amount of the investment was unclear, sources told the FT, but it was thought to be in the region of $100 million to $500 million. Babylon, which was founded in 2013 by entrepreneur Ali Parsa, is an app that allows users to video call medical practitioners for remote appointments around the clock. The app also incorporates artificial intelligence that gives users a medical diagnosis after they enter their symptoms.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Livongo's and Health Catalyst's market debuts ended the three-year digital health IPO droughtLivongo and Health Catalyst are publicly traded companies as of Thursday — here are our predictions for which digital health startups could go public next:
Source: BusinessInsider - 🏆 729. / 51 Read more »