Digital health firm Babylon has accepted a take-private proposal from AlbaCore Capital on behalf of MindMaze, its affiliate digital-Neurotherapy company.
The transition from publicly traded to private entities will enable Babylon and MindMaze to form a global privately-owned business offering an AI-driven care platform for primary care and disease management.
The deal will involve reducing debt, providing funding for Babylon's operations, and transferring core subsidiaries to MindMaze.
The transaction is set to close in July, after which Babylon will no longer trade on the New York Stock Exchange. The companies plan to integrate MindMaze and Babylon in the long term.
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