Babylon Holdings Limited (BBLN)

Company's patented Information Data Exchange® (IDE) will deliver content monetization for comedians and comedic writers. Groundbreaking initiative provides enhanced consumer experience -- and revenue for comedy clubs using laughter to determine, ‘who is the funniest comedian?

Babylon Bee CEO Seth Dillon discusses Google's admission of censoring accounts on YouTube and the fallout on 'The Bottom Line.' #fox #media #us #usa #new #news #foxbusiness #thebottomline #babylonbee #sethdillon #google #youtube #censorship #freespeech #socialmedia #tech #technology #bigtech #online #internet #politics #political #politicalnews #government #speech #digitalrights

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A ordinary shares of Babylon Holdings Limited (the “Company”) — ticker symbol BBLN — from the NYSE. Trading in the Company's Class A ordinary shares will be suspended immediately. On June 22, 2023, NYSE Regulation notified the Company of noncompliance with the continued listing standards in Sections 802.01B.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon Holdings Limited (the “Company” or “Babylon”) (NYSE:BBLN) previously announced in its June 23, 2023 press release that the Company has received a proposal from AlbaCore Capital LLP ("AlbaCore") and MindMaze Group SA ("MindMaze") pursuant to which core operating subsidiaries of the Company would be transferred to MindMaze (the “Proposed Transaction”). The closing of the Proposed Transaction is expected in July 2023 and is subject to agreed documen.

AUSTIN, Texas & LONDON & LAUSANNE, Switzerland--(BUSINESS WIRE)--After a thorough exploration of strategic alternatives, Babylon Holdings Limited (NYSE: BBLN) (including its subsidiaries, “Babylon”) is pleased to provide an update on the recapitalization transaction, previously announced on May 10, following receipt of a proposal from AlbaCore Capital LLP on behalf of certain of its affiliates (“AlbaCore”) and MindMaze Group SA (“MindMaze”), and share that Babylon has selected the previously an.

Babylon (NYSE: BBLN ) stock is falling on Wednesday after the health services company revealed earnings and a plan to go private. Starting with that earnings report, Babylon's diluted EPS came in at -$2.53.

Healthcare company Babylon Holdings Ltd.'s stock BBLN tumbled 42% premarket Wednesday, after it announced plans to go private with backup from AlbaCore Capital.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon Holdings Limited (NYSE: BBLN) (“Babylon” or the “Company”) today announced its financial and operating results for the first quarter ended March 31, 2023. First Quarter Financial Results Comparison of the following financial results for the three months ended March 31, 2023, to the three months ended March 31, 2022: Total revenue was $311.1 million compared to $266.4 million, a 1.2x year-over-year increase of $44.7 million. This was primarily due.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon Holdings Limited (NYSE: BBLN) (“Babylon” or the “Company”) today announced its financial and operating results for the first quarter ended March 31, 2023. First Quarter Financial Results Comparison of the following financial results for the three months ended March 31, 2023, to the three months ended March 31, 2022: Total revenue was $311.1 million compared to $266.4 million, a 1.2x year-over-year increase of $44.7 million. This was primarily due to the growth in VBC revenue, which increased by 17% year-over-year to $287.5 million in Q1 2023. Net loss totaled $63.2 million, a (20.3)% Net loss margin compared to Net loss of $29.1 million, a (10.9)% Net loss margin in Q1 2022. Net income in Q1 2022 included a $78.8 million gain primarily relating to the Company going public. Adjusted EBITDA totaled $(45.8) million, a (14.7)% Adjusted EBITDA Margin, compared to $(82.6) million Adjusted EBITDA, or (31.0)% Adjusted EBITDA Margin, in Q1 2022. Key Highlights Improved VBC Revenue mix, exiting two Medicaid contracts and going live on January 1, 2023 with our digital-first Commercial Exchange product, Ambetter, resulting in nearly 60% of our VBC revenue coming from non-Medicaid members Continued disciplined execution of previously announced cost reduction initiatives, including completion of the sale of a non-core business Ambetter digital-first service for Commercial members exceeded projections with 38% membership growth YTD, members are 12+ times faster to register and have demonstrated 8x engagement rates, higher than any of our other cohorts Appointments in our U.K. Private business grew 83% YoY, with over 186K appointments delivered in Q1 2023 Financial Guidance, Balance Sheet Cash and Other Important Information In light of the Company’s announcement today concerning an interim financing and proposed take private transaction to be led by AlbaCore Capital LLP and affiliates, the Company has withdrawn its full-year 2023 revenue and Adjusted EBITDA guidance, and its mid-2024 target for Adjusted EBITDA profitability, issued on March 9, 2023. The Company is not providing updated guidance at this time. As of March 31, 2023, the Company had cash and cash equivalents of $77.7 million, including $52.1 million of cash classified as held for sale. First Quarter 2023 Earnings Call and Additional Notes Babylon will not host its previously announced conference call on May 10, 2023 to discuss first quarter 2023 results. Babylon’s Quarterly Report on Form 10-Q for the first quarter of 2023 is being filed today with the U.S. Securities and Exchange Commission (the “SEC”) and will be available in the Investor Relations section of Babylon’s website at https://ir.babylonhealth.com. EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Medical Loss Ratio, Medical Margin and Cost of Care Delivery Margin are non-GAAP financial measures (collectively, the “Non-GAAP Measures”) and have certain limitations, and you should not consider them in isolation or as a substitute for analysis of our results of operations as reported under GAAP. We caution investors that amounts presented in accordance with our definitions of any of the Non-GAAP Measures may not be comparable to similar measures disclosed by other issuers, because some issuers calculate certain of the Non-GAAP Measures differently or not at all, limiting their usefulness as direct comparative measures. An explanation of our Non-GAAP measures, a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, Net loss, and the calculations of Net loss Margin, Adjusted EBITDA Margin, Medical Loss Ratio, Medical Margin and Cost of Care Delivery Margins have been provided at the end of this press release. About Babylon At Babylon, our mission is to make quality healthcare accessible and affordable for every person on Earth. To this end, we are building an integrated digital first primary care service that can manage population health at scale. Founded in 2013, we are reengineering how people engage with their care at every step of the healthcare continuum. By flipping the model from reactive sick care to proactive healthcare through the devices people already own, we offer millions of people globally, ongoing, always-on care. And, we have already shown that in environments as diverse as the developed UK or developing Rwanda, urban New York or rural Missouri, for people of all ages, it is possible to achieve our mission by leveraging our highly scalable, digital-first platform combined with high quality, virtual clinical operations to provide integrated, personalized healthcare. Today, we support a global patient network across 15 countries, and operate in 16 languages. In 2021 alone, Babylon helped a patient every 6 seconds, with approximately 5.2 million consultations and AI interactions. Importantly, this was achieved with a 93% user retention rate in our NHS GP at Hand service and 4 or 5-star ratings from more than 90% of our users across all of our geographies. We are working to demonstrate how our model of digital first integrated primary care can be applied to manage the health of the population in different settings across Medicare, Medicaid, and commercial value based care contracts in the US and our primary care services in the UK. Babylon is also working with governments, health providers, employers and insurers across the globe to provide them with a new digital-first platform that any partner can use to deliver high-quality healthcare with lower costs and better outcomes. For more information, please visit www.babylonhealth.com. Forward-Looking Statements This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, without limitation, information concerning Babylon’s ability to receive available funding in full from the amendment and restatement of its senior secured term loan facility with AlbaCore Capital LLP and certain of its affiliates (“AlbaCore”) on May 10, 2023 (the “Interim Funding”) and its ability to successfully implement the framework implementation agreement, dated May 10, 2023, with AlbaCore (the “Framework Agreement”), possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment and potential growth opportunities. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Babylon’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: our ability to continue as a going concern over the next twelve months; risks associated with our debt financing agreements with AlbaCore, including our ability to receive available funding from the Interim Funding in full and the impact of the restrictive covenants on our operations; risks associated with the implementation of the take private proposal pursuant to the Framework Agreement; that we may require additional financing and our ability to obtain additional financing on favorable terms; our ability to timely identify and execute strategic alternatives on favorable terms, including restructuring, refinancing, an asset sale such as the proposed sale of the Meritage Medical Network/Independent Physician Association business, a take private transaction, and/or putting Babylon Holdings Limited into administration under UK law or obtaining relief under the U.S. Bankruptcy Code; risks and uncertainties associated with such administration or bankruptcy proceedings; the diversion of our senior management team’s attention from our business to pursuing strategic alternatives; the impact on our share price as a result of announcements related to a potential take private transaction; turnover in our senior management team and other key talent; our future financial and operating results, ability to generate profits in the future, and timeline to profitability for Babylon as a whole and in our lines of business; the impact of our recently completed reverse share split on the price and trading market for our Class A ordinary shares; if we fail to comply with the NYSE’s continued listing standards and rules, the NYSE may delist our Class A ordinary shares; uncertainties related to our ability to continue as a going concern; our ability to successfully execute our planned cost reduction actions and realize the expected cost savings; the growth of our business and organization; risks associated with impairment of goodwill and other intangible assets; our failure to compete successfully; our ability to renew contracts with existing customers, and risks of contract renewals at lower fee levels, or significant reductions in members, pricing or premiums under our contracts due to factors outside our control; our dependence on our relationships with physician-owned entities; our ability to maintain and expand a network of qualified providers; our ability to increase engagement of individual members or realize the member healthcare cost savings that we expect; a significant portion of our revenue comes from a limited number of customers; the uncertainty and potential inadequacy of our claims liability estimates for medical costs and expenses; risks associated with estimating the amount and timing of revenue recognized under our licensing agreements and value-based care agreements with health plans; risks associated with our physician partners’ failure to accurately, timely and sufficiently document their services; risks associated with inaccurate or unsupportable information regarding risk adjustment scores of members in records and submissions to health plans; risks associated with reduction of reimbursement rates paid by third-party payers or federal or state healthcare programs; risks associated with regulatory proposals directed at containing or lowering the cost of healthcare, including the ACO REACH model; immaturity and volatility of the market for telemedicine and our unproven digital-first approach; our ability to develop and release new solutions and services; difficulty in hiring and retaining talent to operate our business; risks associated with our international operations, economic uncertainty, or downturns; the impact of COVID-19 or any other pandemic, epidemic or outbreak of an infectious disease in the United States or worldwide on our business; risks associated with foreign currency exchange rate fluctuations and restrictions; and the other risks and uncertainties identified in Babylon’s Form 10-K filed with the SEC on March 16, 2023 and Form 10-Q to be filed with the SEC on May 10, 2023, and in other documents filed or to be filed by Babylon with the SEC and available at the SEC’s website at www.sec.gov. Babylon cautions that the foregoing list of factors is not exclusive and cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Babylon does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release. Babylon Holdings Limited Consolidated Balance Sheets (Dollars, in thousands, except share and per share data) As of March 31, As of December 31, 2023 2022 (unaudited) $ $ ASSETS Current assets Cash and cash equivalents 25,582 43,475 Trade receivables, net 15,404 15,524 Other receivables 14,897 17,502 Prepayments and contract assets 18,404 18,349 Assets held for sale 108,797 125,275 Total current assets 183,084 220,125 Property, plant and equipment net 12,039 12,658 Operating lease right-of-use assets 12,870 13,327 Total assets 207,993 246,110 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Current liabilities Trade payables 5,893 9,600 Other payables 4,046 4,839 Accruals and other liabilities 40,000 30,029 Due to related parties 4,791 4,791 Claims payable 9,280 8,475 Contract liabilities 19,094 18,710 Lease liabilities 5,023 5,102 Liabilities held for sale 70,351 74,717 Premium deficiency reserve 13,103 6,124 Total current liabilities 171,581 162,387 Loans and borrowings, net of current position 295,449 278,028 Contract liabilities, net of current position 42,790 46,160 Lease liabilities, net of current position 12,983 14,056 Warrant liability — 711 Earnout liability 252 667 Total liabilities 523,055 502,009 SHAREHOLDERS' EQUITY Class A ordinary shares, $0.001056433113 par value; 260,000,000 shares authorized at March 31, 2023 and December 31, 2022; 25,584,711 and 24,858,717 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 17 16 Class B ordinary shares, $0.001056433113 par value; 124,000,000 shares authorized at March 31, 2023 and December 31, 2022; zero shares issued and outstanding as of March 31, 2023 and December 31, 2022 — — Additional paid-in-capital 581,215 576,585 Accumulated deficit (900,001 ) (836,772 ) Accumulated other comprehensive income 3,707 4,272 Total stockholders' equity (315,062 ) (255,899 ) Total liabilities and shareholders' equity 207,993 246,110 Babylon Holdings Limited Consolidated Statement of Operations and Other Comprehensive Loss (Dollars, in thousands, except share and per share data) (Unaudited) For the Three Months Ended March 31, 2023 2022 $ $ Revenue: Value-based care 287,465 246,575 Clinical services 17,108 12,115 Software licensing 6,547 7,756 Total revenue 311,120 266,446 Claims expense (283,906 ) (247,552 ) Clinical care delivery expense (16,416 ) (23,927 ) Platform & application expenses (8,594 ) (13,748 ) Research & development expenses (4,476 ) (17,314 ) Sales, general & administrative expenses (48,393 ) (55,649 ) Premium deficiency reserve expense (2,494 ) (6,868 ) Depreciation and amortization expenses (1,237 ) (3,078 ) Loss from operations (54,396 ) (101,690 ) Interest expense (8,819 ) (5,982 ) Interest income 161 255 Gain on fair value remeasurement 336 78,773 Gain on settlement of warrants 155 — Exchange loss (27 ) (447 ) Loss on sale of subsidiary (646 ) — Net loss from operations before income taxes (63,236 ) (29,091 ) Tax benefit / (provision) 7 (9 ) Net loss (63,229 ) (29,100 ) Other comprehensive loss Currency translation differences (565 ) (3,639 ) Other comprehensive loss, net of income tax (565 ) (3,639 ) Total comprehensive loss (63,794 ) (32,739 ) Net loss per share Net loss per share, basic and diluted, from operations (2.53 ) (1.71 ) Weighted average shares outstanding, basic and diluted 25,025,645 17,038,663 Babylon Holdings Limited Consolidated Statement of Cash Flows (Dollars, in thousands) (Unaudited) For the Three Months Ended March 31, 2023 2022 $ $ Cash flows from operating activities Net loss (63,229 ) (29,100 ) Adjustments to reconcile Net loss to net cash used in operating activities: Non-cash interest expense, net 8,658 5,727 Stock-based compensation 2,167 9,174 Depreciation and amortization 1,237 3,078 Exchange loss 27 447 Gain on fair value remeasurement (336 ) (78,773 ) Premium deficiency reserve expense 2,494 6,868 Gain on settlement of warrants (155 ) — Loss on sale of subsidiary 646 — Taxation — 9 Working capital adjustments Decrease / (Increase) in trade and other receivables 2,886 (3,648 ) (Increase) / Decrease in prepayments and contract assets (55 ) 4,029 (Decrease) / Increase in trade, other and claims payables (3,746 ) 17,640 Increase / (Decrease) in accruals and other liabilities and due to related parties 1,992 (5,264 ) (Decrease) in contract liabilities (2,011 ) (9,941 ) Decrease in assets and liabilities held for sale 11,436 — (Decrease) / Increase in operating lease liabilities (417 ) 1,272 Net cash used in operating activities (38,406 ) (78,482 ) Cash flows from investing activities Capital expenditure (372 ) (2,613 ) Proceeds from sale of investment in subsidiary 516 — Net cash provided / (used) in investing activities 144 (2,613 ) Cash flows from financing activities Proceeds from issuance of notes and warrants 22,000 100,000 Payment of debt issuance costs (3,153 ) (4,000 ) Payment of equity issuance costs — (1,002 ) Other financing activities, net 42 (1,538 ) Net cash provided by financing activities 18,889 93,460 Net (decrease) / increase in cash and cash equivalents (19,373 ) 12,365 Cash and cash equivalents at January 1, 43,475 262,581 Effect of movements in exchange rate on cash held 1,480 32 Cash and cash equivalents at December 31, 25,582 274,978 Babylon Holdings Limited Non-GAAP Financial Measures (Unaudited) EBITDA is defined as Net (loss) income, adjusted for depreciation, amortization, net interest income (expense), and income taxes. We define Adjusted EBITDA as Net (loss) income, adjusted for depreciation, amortization, net interest income (expense), income taxes, impairment expenses, stock-based compensation, foreign exchange gains (losses), restructuring and other termination benefits, gains (losses) on settlement of warrants, gains (losses) on fair value remeasurement, premium deficiency reserve (income) expenses and gains (losses) on sale of subsidiaries and related transaction costs. We define Medical Loss Ratio as the absolute value of claims expense divided by Value-based care revenue. We define Medical Margin as one minus the Medical Loss Ratio. We define Medical Loss Ratio as the absolute value of claims expense divided by Value-based care revenue. We define Medical Margin as one minus the Medical loss ratio. We define Cost of Care Delivery Margin as one minus the absolute value of claims expense and clinical care delivery expense divided by total revenue. Medical Loss Ratio, Medical Margins and Cost of Care Delivery Margins are derived from amounts presented in the Consolidated Statement of Operations and Comprehensive Loss and the associated Notes to the Consolidated Financial Statements. We believe that EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Medical Loss Ratio, Medical Margin and Cost of Care Delivery Margin (collectively, the “Non-GAAP Measures”) are useful metrics for investors to understand and evaluate our operating results and ongoing profitability because they permit investors to evaluate our recurring profitability from our ongoing operating activities. EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Medical Loss Ratio, Medical Margin and Cost of Care Delivery Margin have certain limitations, and you should not consider them in isolation or as a substitute for analysis of our results of operations as reported under GAAP. We caution investors that amounts presented in accordance with our definitions of any of the Non-GAAP Measures may not be comparable to similar measures disclosed by other issuers, because some issuers calculate certain of the Non-GAAP Measures differently or not at all, limiting their usefulness as direct comparative measures. The following table presents a reconciliation of specific GAAP measures to the Non-GAAP Measures used by management. These include EBITDA and Adjusted EBITDA from the most directly comparable GAAP measure, Net (loss) income, and the calculations of Net (loss) income Margin, Adjusted EBITDA Margin, Medical Loss Ratio, Medical Margin and Cost of Care Delivery Margin for the three months ended March 31, 2023 and 2022: For the Three Months Ended March 31, 2023 2022 (in thousands) $ $ Net loss (63,229 ) (29,100 ) Adjustments to calculate EBITDA: Depreciation and amortization expenses 1,237 3,078 Interest expense and income, net 8,658 5,727 Tax (benefit) provision (7 ) 9 EBITDA (53,341 ) (20,286 ) Adjustments to calculate Adjusted EBITDA: Stock-based compensation 2,167 9,174 Exchange loss 27 447 Restructuring and other termination benefits 1,216 — Gain on settlement of warrants (155 ) — Gain on fair value remeasurement (336 ) (78,773 ) Premium deficiency reserve expense 2,494 6,868 Loss on sale of subsidiary and related transaction costs 2,148 — Adjusted EBITDA (45,780 ) (82,570 ) Total revenue 311,120 266,446 Value-based care revenue 287,465 246,575 Claims expense (283,906 ) (247,552 ) Clinical care delivery expense (16,416 ) (23,927 ) Net (loss) income Margin (20.3 )% (10.9 )% Adjusted EBITDA Margin (14.7 )% (31.0 )% Medical Loss Ratio 98.8 % 100.4 % Medical Margin 1.2 % (0.4 )% Cost of Care Delivery Margin 3.5 % (1.9 )%

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon Holdings Limited (NYSE: BBLN) (including its subsidiaries, “Babylon”) is pleased to announce that it has entered into an amendment and restatement of its senior secured term loan facility with AlbaCore Capital LLP and certain of its affiliates (“AlbaCore”), dated March 9, 2023 (the “Bridge Facility Agreement”), for up to an additional $34.5 million in funding (the “Interim Funding”). This investment demonstrates AlbaCore's ongoing support to Babylon. The Interim Funding will be provided on similar pricing terms to the original Bridge Facility Agreement. The Interim Funding will provide liquidity to support Babylon's operations and enable Babylon to proceed with a proposed longer-term funding and take-private solution under a framework implementation agreement (the “Framework Agreement”) entered into between Babylon and AlbaCore. Under the Framework Agreement, Babylon and AlbaCore expect to proceed with a restructuring and recapitalization that will strengthen Babylon’s balance sheet and provide additional liquidity to deliver on Babylon’s strategic plan. The Framework Agreement contemplates that core operating subsidiaries of Babylon Holdings Limited (the “Go-Forward Business”) will return to private ownership (the “Take Private Proposal”) and is expected to provide, subject to specified terms and conditions and definitive documentation, for: (i) additional funding for the Go-Forward Business; (ii) an amendment of the existing aggregate debt under the original $300 million principal amount of AlbaCore notes due 2026, the notes issued under the Bridge Facility Agreement, and the Interim Funding (collectively, the “Debt”), including an extension of the maturity of the Debt; and (iii) a new long-term employee incentive plan. Babylon's Board of Directors has approved the Interim Funding and the Take Private Proposal as a constructive step to deliver a longer-term solution to support the Go-Forward Business’s continued path toward profitability, upon consideration of the results of Babylon’s previously announced efforts to explore strategic alternatives, including additional financing and a possible sale of the Meritage Medical Network/Independent Physician Association business (the “IPA Business”). The Interim Funding will be made available to Babylon in May and early June 2023, subject to the satisfaction of certain conditions precedent. Babylon and AlbaCore plan to implement the Take Private Proposal during June in the absence of other acceptable transaction proposals from third parties in the interim period. It is expected that as part of the implementation of the Take Private Proposal, Babylon Holdings Limited will sell Babylon Group Holdings Limited, which owns Babylon’s core operating subsidiaries that will comprise the Go-Forward Business, to a newly formed entity capitalized by AlbaCore and other investors. This sale will occur without the approval of or any payment to Babylon Holdings Limited’s Class A ordinary shareholders or other equity instrument holders, as AlbaCore will be exercising rights under its debt agreements with Babylon. Babylon remains focused on its day-to-day operations and patient care, as well as its ongoing and future commercial relationships, and on ensuring stability for Babylon’s key stakeholders. Babylon remains entirely committed to its employees, customers and patients alike, and will proactively seek to maintain and strengthen its partnerships while continuing to provide high-quality, accessible and affordable healthcare through its innovative digital-first platform as Babylon positions itself for its future. About Babylon At Babylon, our mission is to make quality healthcare accessible and affordable for every person on Earth. To this end, we are building an integrated digital first primary care service that can manage population health at scale. Founded in 2013, we are reengineering how people engage with their care at every step of the healthcare continuum. By flipping the model from reactive sick care to proactive healthcare through the devices people already own, we offer millions of people globally, ongoing, always-on care. And, we have already shown that in environments as diverse as the developed UK or developing Rwanda, urban New York or rural Missouri, for people of all ages, it is possible to achieve our mission by leveraging our highly scalable, digital-first platform combined with high quality, virtual clinical operations to provide integrated, personalized healthcare. Today, we support a global patient network across 15 countries, and operate in 16 languages. In 2021 alone, Babylon helped a patient every 6 seconds, with approximately 5.2 million consultations and AI interactions. Importantly, this was achieved with a 93% user retention rate in our NHS GP at Hand service and 4 or 5-star ratings from more than 90% of our users across all of our geographies. We are working to demonstrate how our model of digital first integrated primary care can be applied to manage the health of the population in different settings across Medicare, Medicaid, and commercial value-based care contracts in the US and our primary care services in the UK. Babylon is also working with governments, health providers, employers and insurers across the globe to provide them with a new digital-first platform that any partner can use to deliver high-quality healthcare with lower costs and better outcomes. For more information, please visit www.babylonhealth.com. Forward-Looking Statements This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, without limitation, information concerning Babylon’s ability to receive available funding from the Interim Funding in full and its ability to successfully implement the Framework Agreement, possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment and potential growth opportunities. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Babylon’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: our ability to continue as a going concern over the next twelve months; risks associated with our debt financing agreements with AlbaCore, including our ability to receive available funding from the Interim Funding in full and the impact of the restrictive covenants on our operations; risks associated with the implementation of the Take Private Proposal pursuant to the Framework Agreement; that we may require additional financing and our ability to obtain additional financing on favorable terms; our ability to timely identify and execute strategic alternatives on favorable terms, including restructuring, refinancing, an asset sale such as the proposed sale of the IPA Business, a take private transaction, and/or putting Babylon Holdings Limited into administration under UK law or obtaining relief under the U.S. Bankruptcy Code; risks and uncertainties associated with such administration or bankruptcy proceedings; the diversion of our senior management team’s attention from our business to pursuing strategic alternatives; the impact on our share price as a result of announcements related to a potential take private transaction; turnover in our senior management team and other key talent; our future financial and operating results, ability to generate profits in the future, and timeline to profitability for Babylon as a whole and in our lines of business; the impact of our recently completed reverse share split on the price and trading market for our Class A ordinary shares; if we fail to comply with the NYSE’s continued listing standards and rules, the NYSE may delist our Class A ordinary shares; uncertainties related to our ability to continue as a going concern; our ability to successfully execute our planned cost reduction actions and realize the expected cost savings; the growth of our business and organization; risks associated with impairment of goodwill and other intangible assets; our failure to compete successfully; our ability to renew contracts with existing customers, and risks of contract renewals at lower fee levels, or significant reductions in members, pricing or premiums under our contracts due to factors outside our control; our dependence on our relationships with physician-owned entities; our ability to maintain and expand a network of qualified providers; our ability to increase engagement of individual members or realize the member healthcare cost savings that we expect; a significant portion of our revenue comes from a limited number of customers; the uncertainty and potential inadequacy of our claims liability estimates for medical costs and expenses; risks associated with estimating the amount and timing of revenue recognized under our licensing agreements and value-based care agreements with health plans; risks associated with our physician partners’ failure to accurately, timely and sufficiently document their services; risks associated with inaccurate or unsupportable information regarding risk adjustment scores of members in records and submissions to health plans; risks associated with reduction of reimbursement rates paid by third-party payers or federal or state healthcare programs; risks associated with regulatory proposals directed at containing or lowering the cost of healthcare, including the ACO REACH model; immaturity and volatility of the market for telemedicine and our unproven digital-first approach; our ability to develop and release new solutions and services; difficulty in hiring and retaining talent to operate our business; risks associated with our international operations, economic uncertainty, or downturns; the impact of COVID-19 or any other pandemic, epidemic or outbreak of an infectious disease in the United States or worldwide on our business; risks associated with foreign currency exchange rate fluctuations and restrictions; and the other risks and uncertainties identified in Babylon’s Form 10-K filed with the SEC on March 16, 2023 and Form 10-Q to be filed with the SEC on May 10, 2023, and in other documents filed or to be filed by Babylon with the SEC and available at the SEC’s website at www.sec.gov. Babylon cautions that the foregoing list of factors is not exclusive and cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Babylon does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon Holdings Limited (NYSE: BBLN) (including its subsidiaries, “Babylon”) is pleased to announce that it has entered into an amendment and restatement of its senior secured term loan facility with AlbaCore Capital LLP and certain of its affiliates (“AlbaCore”), dated March 9, 2023 (the “Bridge Facility Agreement”), for up to an additional $34.5 million in funding (the “Interim Funding”). This investment demonstrates AlbaCore's ongoing support to Baby.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon (NYSE: BBLN) (the “Company”) today announced it will host a conference call to review its first quarter financial results on Wednesday, May 10, 2023, at 8:00 AM Eastern Time. A press release announcing the results will be issued prior to the conference call on Wednesday, May 10, 2023. To participate in the live conference call and webcast, please dial (877) 407-7994 for U.S. participants, 0 800 756 3429 for U.K. participants or +1 215-268-9868 for international participants. Alternatively, you can visit the “News & Events” section of https://ir.babylonhealth.com to access the live webcast. On this page, you can also find a “Call me” link for instant telephone access to the event, which will be made active 15 minutes prior to the scheduled start time. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call. About Babylon At Babylon, our mission is to make quality healthcare accessible and affordable for every person on Earth. To this end we are building an integrated digital first primary care service that can manage population health at scale. Founded in 2013, we are reengineering how people engage with their care at every step of the healthcare continuum. Today, Babylon’s technology and clinical services support a global patient network across 15 countries, and our digital healthcare platform is capable of operating in 16 languages. Babylon is also working with governments, health providers, employers and insurers across the globe to provide them with a new digital-first platform that any partner can use to deliver high-quality healthcare with lower costs and better outcomes. For more information, please visit www.babylonhealth.com.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon (NYSE: BBLN) (the “Company”) today announced it will host a conference call to review its first quarter financial results on Wednesday, May 10, 2023, at 8:00 AM Eastern Time. A press release announcing the results will be issued prior to the conference call on Wednesday, May 10, 2023. To participate in the live conference call and webcast, please dial (877) 407-7994 for U.S. participants, 0 800 756 3429 for U.K.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon (NYSE: BBLN), a global digital healthcare company, announced today personalized, digital-first programs for high-risk members living with chronic conditions. The care pathways were developed hand-in-hand by Babylon's expert technologists and primary care teams for a true end-to-end value-based care system. The programs are offered as part of Babylon’s integrated primary care model that collects and analyzes data to monitor members in real time as they manage many conditions. Conditions in the program include: diabetes, hypertension, low back pain, prenatal care, anxiety, and depression programs. Babylon’s technology will collect and analyze members’ data allowing providers to monitor and intervene sooner. Multidisciplinary care teams will support members in managing chronic conditions and deliver high-quality, evidence-based care to members. “A digital-first chronic condition program may improve patient health and decrease the rate of acute events and associated hospitalizations. At Babylon, we have worked hard to bring personalized, evidence-based care for a number of conditions together under a single interface to the patient,” said Dr. Darshak Sanghavi, Global Chief Medical Officer at Babylon. “We think hard about our patients and want them to have a way to receive regular health education, monitor symptoms and seek advice, and get the right care that goes beyond just the meeting with their clinician. We are providing evidence-based programs for how to do that and giving patients access to tools that will provide an engaging and enjoyable way to better engage in their own health.” For example, in Babylon’s prenatal care, the program engages pregnant women with regular touchpoints and digital tools on a week-by-week journey to assist with prevention and care during pregnancy. There are more than two million women of child-bearing age living in maternity deserts, and the U.S. has the highest maternal mortality rate among developed countries - roughly four out of five pregnancy related deaths are preventable. Babylon is delivering side-by-side digital and clinical services including both pregnancy education, actionable to-do’s, mental wellbeing screening and more through our integrated digital care journey. “It’s so important that we offer a service to women who are pregnant or shortly after birth and engage with these women,” Dr. Kimya Tarr, Senior Digital Health Manager at Babylon. “If we are able to break down barriers to care and help the mother get the care she needs, it's more likely the baby will be healthy, and we will have reduced the cost for the mother and the newborn.” In Babylon’s diabetes journey, the care team supports the patient to create a personalized care plan based on the patient’s assessment. The structured journey includes in-app digital content and three planned virtual touchpoints to track progress, and may be expanded to additional touchpoints based on the needs of the patient. The care team ensures the patient is up to date on all recommended screenings, immunizations, and labs; and any abnormalities are evaluated with the support of the primary care provider. Care goals are adjusted as needed. This model is based on the American Diabetes Association recommendation to provide Diabetes Self Management Education and Support, which empowers patients to implement and sustain self-management of their condition. Participation in DSMES has been shown to lower blood sugar measurements as much as any medication, lower the risk of complications and improve health outcomes. Diabetes affects more than 30 million U.S. adults and children (>11% of the population), and only about 1 million people receive DSMES services annually. “We’re providing populations living with diabetes in rural areas with the tools to self-monitor, support to access preventive screenings and immunizations and access to 24/7 primary care through our digital platform,” said Dr. Amber Featherstone, Digital Health Principal at Babylon. “Through implementing the DSMES program, we are employing an underutilized resource to improve patient outcomes and cut the costs of care.” All chronic condition management programs are available to B360 members with additional programs planned for the future. About Babylon At Babylon, our mission is to make quality healthcare accessible and affordable for every person on Earth. To this end we are building an integrated digital first primary care service that can manage population health at scale. Founded in 2013, we are reengineering how people engage with their care at every step of the healthcare continuum. Today, Babylon’s technology and clinical services support a global patient network across 15 countries, and our digital healthcare platform is capable of operating in 16 languages. Babylon is also working with governments, health providers, employers and insurers across the globe to provide them with a new digital-first platform that any partner can use to deliver high-quality healthcare with lower costs and better outcomes. For more information, please visit www.babylonhealth.com.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon (NYSE: BBLN), a global digital healthcare company, announced today personalized, digital-first programs for high-risk members living with chronic conditions. The care pathways were developed hand-in-hand by Babylon's expert technologists and primary care teams for a true end-to-end value-based care system.

AUSTIN, Texas & LONDON--(BUSINESS WIRE)--Babylon Holdings Limited (NYSE: BBLN) (“Babylon” or the “Company”) today announced its financial and operating results for the fourth quarter and fiscal year ended December 31, 2022. In 2022, Babylon's revenue grew 3.5x to $1.11 billion, exceeding guidance. The Company's most mature business, UK clinical services, achieved COCD profitability in 2022, and its U.S. clinical services business is expecting the same early this year. Babylon's U.S.