This story is available exclusively to Insider subscribers.UK health startup Babylon has made three senior hires for a US expansion push.Parsa said Babylon aimed to become a $1 billion business, primarily focused on the US.$2 billion telemedicine startup Babylon Health is making a major push into the US, hiring three new senior executives and aiming for $1 billion in revenue in 2021.
"Our goal is that by the end of this year to have signed enough contracts to be a $1 billion revenue business," CEO Ali Parsa told Insider, adding that he making this forecast"cautiously" since the firm is making"around $15 million a month" in revenue currently. Babylon Health has a complex corporate structure, but UK financial filings indicate the businessBabylon Health started in the UK, and is best known for its patient-facing GP at Hand telemedicine app.
It already counts publicly traded firm Centene Corporation as a partner, which has invested in Babylon. Mount Sinai Health Partners is another partner. He said that Babylon had helped one group of Medicaid patients in Missouri who were struggling to feed their children and overwhelmed with the process of applying for food vouchers. Babylon's team, he said, focused on helping families get to food banks and helping them fill out forms for vouchers."It's a lot cheaper for us to get that organized than to wait until you end up in hospital," he said.
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