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Vostok New Ventures announces USD22.2m investment in digital healthcare provider.

NORDIC BUSINESS REPORT-April 26, 2017-Vostok New Ventures announces USD22.2m investment in digital healthcare provider

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Investment company Vostok New Ventures Ltd (STO:VNV.SDB) announced on Tuesday an investment in babylon, an AI-empowered digital healthcare service provider.

Under this investment, the company invested a total of USD22.2mn in primary shares in the context of a larger USD60m financing round.

Reportedly, babylon's technology, available from any mobile phone or personal computer worldwide, aims to put an accessible and affordable health service into the hands of every person on Earth. babylon has brought together one of the largest teams of scientists, clinicians, mathematicians and engineers to focus on combining the ever-growing computing power of machines, with the best medical expertise of humans. babylon was launched in 2015 and is led by its founder and CEO Dr Ali Parsa.

Also, babylon is currently partnered up with the UK's public health service organisation NHS to provide medical advice to over one million north London residents through the NHS 111 London App, as well as running a pilot in Rwanda to provide a digital national healthcare service via the babylon-platform.

Babylon is expected to use this new funding to continue to build the world's most advanced artificial intelligence platform in healthcare, to support medical diagnosis and predict personalised health outcomes globally.

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Publication:Nordic Business Report
Date:Apr 26, 2017
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