Babylon Health, a UK-based digital health startup, faced a tumultuous journey leading to its bankruptcy. Launched in 2013, Babylon promised to combine AI and machine learning to offer personalized health services.
The company's downfall was marked by losing major contracts, plummeting stock prices, and regulatory concerns.
In August 2023, Babylon's U.K. subsidiary went into administration and was sold to eMed Healthcare UK, excluding GP at Hand.
Financial struggles, debt burdens, and failed acquisitions led to bankruptcy filings revealing significant debts and asset sales.