Saudis Lead $550 Million Investment in U.K. Startup Babylon - Bloomberg:
Babylon Healthcare Services Ltd., the fast-growing mobile medical consultation service, said it raised $550 million to expand into the U.S. and Asia.
The investment includes capital from new investors such as Saudi Arabia’s Public Investment Fund, and valued the company at more than $2 billion, Babylon said in a statement Friday.
“We have seen significant demand from partners across the U.S. and Asia," said Ali Parsa, London-based Babylon’s founder and chief executive officer. "While the burden of healthcare is global, the solutions have to be localized to meet the specific needs and culture of each country.”
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