As a result of the business combination, and the Sustainability-Linked Notes transaction with AlbaCore, Babylon received proceeds of approximately $460 million, prior to transaction expenses, which includes cash proceeds from Alkuri's trust account and the private placement (PIPE) investors.
Babylon will continue to be led by Parsa as CEO alongside its highly experienced executive team, including Charlie Steel as Chief Financial Officer, Stacy Saal as Chief Operations Officer, Paul-Henri Ferrand as Chief Business Officer, Dr. Darshak Sanghavi as Chief Medical Officer, Steve Davis as Chief Technology Officer and Yon Nuta as Chief Product Officer. In addition, the Company's Board of Directors comprises a deep bench of global advisors with extensive backgrounds and collective, deep-rooted expertise in technology, and leading some of the world's fastest-growing businesses.
Ardea Partners LP served as financial advisor, Citi served as financial and capital markets advisor, and Wilson Sonsini Goodrich & Rosati, P.C., Allen & Overy LLP and Walkers (Jersey) LLP served as legal counsel to Babylon. Jefferies served as exclusive financial advisor and Winston & Strawn LLP served as legal counsel to Alkuri. Jefferies, Citi and Pareto Securities AB served as placement agents on the PIPE. Ardea Partners LP and Citi acted as placement agents on the Sustainability-Linked Notes transaction with AlbaCore, and Allen & Overy LLP served as legal counsel to Babylon.
Babylon is a world leading, digital-first, value-based care company whose mission is to make high-quality healthcare accessible and affordable for everyone on Earth.
Babylon is re-engineering healthcare, shifting the focus from sick care to preventative healthcare so that patients experience better health, and reduced costs. This is achieved by leveraging a highly scalable, digital-first platform combined with high quality, virtual clinical operations to provide integrated, personalized healthcare. We endeavor to support patients' health needs, all from their devices, with the aim to promote longer and healthier lives. When sick, Babylon provides assistance to navigate the health system, connecting patients digitally to the right clinician 24/7, at no additional cost.
Founded in 2013, we have since delivered millions of clinical consultations and AI interactions, with c.2m clinical consultations and c.3.9m AI interactions in 2020 alone. We work with governments, health providers and insurers across the globe, and support healthcare facilities from small local practices to large hospitals.