Two of the divisions of the digital healthcare organization that created the GP at Hand app for the NHS have been placed into administration.
700,000 Britons have used Babylon Health’s platforms, and part of the company’s operations and assets have been transferred to another company.
In August 2021, the company’s NHS-funded GP at Hand service made history by becoming the first general practitioner in the UK to receive a list of more than 100,000 patients.
The usage of the digital-first service by younger patients, who are more likely to be in good health and shape, has drawn criticism.
Users of Babylon should see the least amount of inconvenience possible as a result of the appointment of administrators over its UK business, which should enable a sale to eMed.
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Alvarez & Marsal, a restructuring company, announced on Wednesday that it had been chosen as administrator of Babylon Group Holdings and Babylon Partners, one of its subsidiaries.
The GP at Hand app was one of the assets that were sold together with the company to US digital healthcare provider eMed Healthcare.
The purchase, according to Alvarez & Marshal, “secured the future of the Babylon UK operations, which provides technology-driven preventative healthcare services in addition to other conventional healthcare activities.”
Alvarez & Marsal Europe’s managing director, Andrea Jakes, stated: “The appointment of administrators over Babylon’s UK business to facilitate a sale to eMed ensures the least possible disruption for Babylon users, which should continue to operate as normal.”
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