Saudi Wealth Fund Planning to Invests in Babylon Health Service Provider Company
The Saudi wealth fund is planning to invest in a start-up health care company. This will give a unicorn status to Saudi wealth fund company. This deal is done by an advanced discussion with Babylon by Saudi investors said by Saudi peoples. This news was given by The Financial Times. This company is a health service provider. The company provides services to users by app to directly with doctors by video call or by text. Patients can able to send photos or any questions to the healthcare team of the company. Other than patients can discuss with doctors regarding their normal issues by video call form home place.
By this special app patient can receive or also allows to receive any specialist. Doctors mail prescriptions to users or pharmacist after checking. The investment by Saudi wealth fund expected to push Babylon health care value over 1000 million. The amount of the investment will be within $100 million to $500 million which is given by the source. The source also said that the exact amount of the asset was uncertain. The deal will have done this week a report given by FT. This is the first time that Saudi’s free fund has invested in a UK base start-up health care company.
This UK base new start-up company was founded in 2013 by Ali Parsa. Babylon an app created for users to easily contact with doctors. This is for to take an appointment or an issue can discuss directly with doctors. This app also includes a process of treatment to users. This is useful after doctors analyze the user’s problem. Patients can contact directly to doctors by this app. New start-up company did not give any comment on this deal a statement given by company key person by mail to CNBC. A key-person from Saudi Arabia’s also decline to give comment on this deal declared by CNBC.