Babylon accelerates momentum, more than doubling its signed value-based care lives in the second half of this year so far

Digital healthcare provider Babylon today outlined its ongoing momentum, announcing a further c.135k lives will have access to its value-based care offering across the US and UK through its expansion to additional US states, Georgia and Mississippi, and further growth across California. This means that through a combination of its value-based care model, Babylon 360 and its work in primary care, Babylon will be managing c. 350k lives globally, including 105k NHS GP at Hand lives, by the start of 2022. Babylon reiterated 2021 and 2022 revenue guidance on September 15, 2021.

“This expansion of our work will help Babylon further our aim of reaching communities where access and affordability are obstacles, in order to make health equity the norm,” said Babylon Founder & CEO Ali Parsa. “Our growth in value-based care further demonstrates the structural advantage of our digital-first model, which is scaling ahead of plan, all while maintaining high-quality healthcare.”

Babylon will increase the number of Americans served through its value-based care program with the addition of 63k lives in Georgia and Mississippi, as at the contract date. This will be further supplemented by 17k lives in California at the beginning of 2022. This will mean these Medicaid and Medicare patients will be over time provided access to 24/7 primary care doctors and nurses, the ability to get personalized insights and support, and overall end to end care, with the aim of leading to better outcomes and lower costs over time.

The recent U.S. expansion complements Babylon’s global growth, with over 55K lives added recently in the UK through its partnership with the Royal Wolverhampton NHS Trust on top of the 105k lives through its own NHS GP Practice, Babylon GP at Hand. The global expansion of Babylon 360 further establishes the organization as a leader in digital-first, value-based care, aligning with the company’s founding mission to provide accessible and affordable healthcare to every person on Earth. Babylon is re-engineering the way healthcare is delivered with a highly scalable model that aims to preserve people’s health, shifting away from the current fee-for-service model that focuses on sickness and crisis.

The milestone of 350K lives covered around the world comes at an inflection point for Babylon, with its H1 2021 earnings report disclosing 472% year-on-year revenue growth, and a $4.2B SPAC merger with Alkuri Global Acquisition Corp. (NASDAQ: KURI) (NASDAQ: KURIU) (NASDAQ: KURIW) slated to close shortly. As a publicly-traded company, Babylon expects to be positioned to build on the traction it has already achieved and continue the momentum by rapidly scaling operations.

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