Digital health firm Babylon filed for bankruptcy in Delaware last week for two of its subsidiaries, according to court filings. The Chapter 7 bankruptcy filings for Babylon Healthcare and Babylon Inc. come as the company shuts down core operations in the U.S., after a take-private deal with digital neurotherapy company MindMaze collapsed. Under Chapter 7 bankruptcy, a company liquidates its assets and goes out of business. Both filings on August 9 list liabilities between $100 million and $500 million.
Read the full article: Babylon Files for Bankruptcy in US //
Source: https://www.healthcaredive.com/news/Babylon-Chapter-7-bankruptcy/691218