HBI Deals+Insights / M&A/IPOs

$4.2bn Babylon to go public at 11-13x revenue multiple

Global digital health platform Babylon Health will IPO through a $4.2bn merger with SPAC Alkuri Acquisition Corp. The deal gives it a 13x revenue multiple of the $4.2bn equity value and 11x a $3.6bn enterprise value. The move comes as Europe's players increasingly look to the States as a more scalable market. Despite just launching there last year, 70% of Babylon's revenues now come from the States.