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By *oodmess OP Man 40 weeks ago
yumsville |
Anybody notice the announcement by Babylon today. I'm quoting it as it's from the FT.
"The technology company behind the NHS’s GP at Hand app is fighting for its survival as it scrambles for cash to keep its UK arm going until it can find a buyer"
"it was “in discussions with potential strategic partners to secure additional funding,” but “cannot provide assurance that it will be able to secure sufficient liquidity to fund the operations of the group’s businesses”.
"This could force it to file for bankruptcy protection in the US and administration in the UK."
Babylon said:
“To the extent that Babylon is unable to secure additional financing and complete a third arty sale of a particular business, the applicable entities of the group will file for bankruptcy protection or implement other alternatives for an orderly wind down and liquidation or dissolution, which may include commencing chapter 7 proceedings under the US bankruptcy code and/or a UK administration for the applicable entities of the Group in the near term.” |
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