Vostok New Ventures invests USD 22.2 mln in babylon, a leading digital healthcare company
Stockholm, 2017-04-25 12:08 CEST --
Vostok New Ventures Ltd. ("Vostok New Ventures" or the "Company") today announces its investment in babylon, a leading AI-empowered digital healthcare service provider. Vostok New Ventures has invested a total of GBP 17.3mln (USD 22.2mln) in primary shares in the context of a larger USD 60 mln financing round.
babylon’s technology, available from any mobile phone or personal computer worldwide, aims to put an accessible and affordable health service into the hands of every person on Earth. babylon has brought together one of the largest teams of scientists, clinicians, mathematicians and engineers to focus on combining the ever-growing computing power of machines, with the best medical expertise of humans. babylon was launched in 2015 and is led by its founder and CEO Dr Ali Parsa.
babylon has to date over 1 mln downloads of its app and around 800 thousand registered patients. babylon is currently partnered up with the UK’s public health service organisation NHS to provide medical advice to over 1 mln north London residents through the NHS 111 London App as well as running a pilot in Rwanda to provide a digital national healthcare service via the babylon-platform. For more information on babylon, please visit www.babylonhealth.com.
babylon will use the new funding to continue to build the world’s most advanced artificial intelligence platform in healthcare, to support medical diagnosis and predict personalised health outcomes globally.
Vostok New Ventures’ Managing Director Per Brilioth comments:
”We are delighted to announce our new investment in babylon - an exciting addition to our portfolio where we see network effects coming in through its AI-engine and a continuously growing dataset of patient consultation which can leveraged to improve the service further. babylon’s mission to improve and provide accessible and affordable healthcare globally by leveraging its advanced technology platform is ambitious but very relevant and much needed in developed and developing markets alike. We look forward to supporting the company and the team in the years to come.”
babylon’s founder and CEO, Dr Ali Parsa will participate and present the company at Vostok New Ventures’ Capital Markets Day in Stockholm on June 8, 2017.
For further information please contact:
Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.