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 Babylon Health's previous plan to merge with neurotherapeutics provider MindMaze has been dissolved for undisclosed reasons, and the company is now seeking alternative buyers for its UK-based operations. The company notes that its US-based core operations will be shut down and transferred from its US members to other providers as it continues to find buyers for its independent physician association, the Meritage Medical Network.
 
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 Babylon went on to further state that the company is looking for further financing to explore additional options for divestiture and continue its operations; however, it is also considering filing for bankruptcy if the company is unable to sell its business or raise funds.&nbsp;
 
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 Further, the company also expects that it will not be able to distribute any of the proceeds from any potential transactions to Class A shareholders, as it does not expect its sale of any of its business units to be more than what it owes to AlbaCore Capital LLP.&nbsp;
 
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 Analyst QuickTake
 : This news follows a string of unsettling announcements from Babylon Health which began in May 2023 when the 
 <a href="https://sp-edge.com/updates/18432">
 company released its Q1 2023 earnings
 </a>
 . It posted losses per share of USD 2.53, which was followed by
 <a href="https://sp-edge.com/updates/18432">
 plans to delist
 </a>
 via an amendment and restatement of its loan facility with AlbaCore Capital LLP, which provided the company with USD 34.5 million. The 
 <a href="https://www.businesswire.com/news/home/20230623670219/en/Babylon-Announces-Update-on-Take-Private-Proposal">
 merger with MindMaze
 </a>
 was expected to close in July with both entities planning to form a digital-first global AI-driven healthcare business. The deal was expected to close in July, but has since fallen through.
 
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 </ul>
 
 
</div>

<div>
 
 <a href="https://www.businesswire.com/news/home/20230806277244/en/Babylon-In-Discussions-of-New-Strategic-Alternatives-for-its-Businesses">
 Press release
 </a>
 
 
 <a href="https://www.mobihealthnews.com/news/babylon-pursues-new-strategic-alternatives-mindmaze-deal-canceled">
 Mobi Health News
 </a>
 
 
 <a href="https://www.healthcaredive.com/news/babylon-mindmaze-merger-collapses/690142/">
 Healthcare Drive
 </a>
 
 
 
</div>

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Babylon and MindMaze deal collapse; company seeks alternatives as it goes private

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Babylon and MindMaze deal collapse; company seeks alternatives as it goes private

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