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Babylon completes $4.2 billion merger with Alkuri Global

Press releases may be edited for formatting or style | October 25, 2021 Business Affairs Health IT Telemedicine
Increased our estimated contracted revenue to over $60m per month from launch.
- Babylon puts patient service and high quality of care front and centre:

Over 90% of Babylon's members report being very satisfied with our service across all of our geographies, irrespective of their socio-economic background or demographics and we have more than 95% user retention rate.
Ratings of our clinical quality outcomes have been equally high in every one of our markets. For example: in the UK we have been rated as "Outstanding" in the 'well-led' domain by the Care Quality Commission, where we also scored 96% in the NHS Quality Outcome Framework[1].
A peer reviewed paper, based on independent NHS data, showed we delivered up to 35% of acute care cost savings for our members compared to other similar cohorts, and in the US, our data shows we avoided around 34% of ER/Urgent care visits for our cohort.[2]
Our unit costs of care are falling in every one of our markets too. For example: in Rwanda there has been a 55%[3] reduction in the unit cost of our consultation, while in the UK, our unit cost of delivery of primary care per person dropped by 33% in 2 years[4].
- Babylon is driving real change through the combination of technology and clinical quality

Created a world class data infrastructure to deliver a holistic single view of each individual's health graph and platformized our artificial intelligence capabilities to enable them to be quickly embedded across our products.
We have already integrated over 100 data sources resulting in access to 80 billion data points fueling our AI efforts.
Our total technology costs only increased by 22% while our revenue increased by 472% for the six month period that ended June 30, 2021.
Our total technology costs declined as a percentage of revenue from 200% for the six month period ended June 30, 2020 to 43% for the six month period that ended June 30, 2021, and is expected to further decline to below 15% of revenue for the year ended December 31, 2022.
48% of all our member interactions are done through our technology platform with no human involvement.
In our longest standing market in the UK, 84% of all our primary consultations are now entirely virtual.
In peer-reviewed research published in Frontiers in Artificial Intelligence, our technology, under selective test conditions achieved 80.0% average recall and 44.4% average precision, compared to doctors who took the same test and achieved, on average, 83.9% and 43.6%, respectively.
"Babylon is one of the most exciting stories in healthcare and technology, and we're pleased to help them on what we believe will be a truly difference-making path as a public company," said Alkuri CEO Rich Williams. "Babylon is not only well positioned to transform the $10 trillion global healthcare sector, they have the vision and potential to be the winner in it. They already have incredible momentum, but Ali and team have just scratched the surface of what's possible when the patient is at the forefront of care."

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