We’re incredibly proud to have delivered the opportunity for Alkuri’s stockholders to support the fastest growing digital healthcare company we’ve seen -- public or private. In the first half of this year, Babylon grew its revenues by 472% while improving margins and continuing to deliver world-class healthcare by realigning the focus and incentives of care on comprehensive, long-term health and well-being. With the support and commitment of Babylon’s shareholders, we brought this transaction to you at a price that, in our view, represents a clear discount to its peers -- despite the fact that Babylon is growing as much as 10 times faster than others in digital healthcare.
We believe we have delivered an incredibly attractive entry point for a category-defining business in a $10 trillion global sector that, in our view, is in the earliest stages of its technology revolution.
Importantly, we believe the potential rewards from this merger with Babylon extend far beyond the economics. For too long we've somehow accepted the broken healthcare system that routinely leaves our most vulnerable communities behind. In partnership with other visionary organizations, Babylon is proving that it's not only possible to re-engineer the system, the process is underway and already making a positive impact on members' lives -- for rich and poor, from Rwanda to Southeast Asia to Central London to rural towns and counties in the U.S. So while we strongly believe in the potential for outsized returns with Babylon, and have invested our personal capital both in Alkuri and the PIPE, we also see world changing potential in this company.
Your vote to approve this transaction was more than a vote for Babylon, it was a vote to make quality healthcare accessible and affordable for every person on Earth -- a bold and important mission led by a visionary founder and arguably the most seasoned leadership team in digital health.
On behalf of the entire Alkuri team, thank you for your support and the ability to bring this opportunity to our stockholders and the U.S. public markets.
--Rich Williams, CEO
Operators + Investors + Partners
Katie is a serial entrepreneur that's been on the IPO ride before and has been at the helm of multiple high-growth tech companies from inception to global scale. She's also an experienced investor and board member for both private and public companies.
Jason is a health tech CFO that brings 20+ years of deal experience in high growth environments and across all lifestages. He knows how to get deals done and he knows what it takes to be successful in both public & private companies.
Steve brings decades of private equity and capital formation experience to the Alkuri Global team and SPAC board. He knows how to bring strategic capital together to drive growth and create value beyond the checkbook.
Roushan brings decades of tech M&A and management experience with some of the biggest names on the Internet. He's a founder, executive chairman, and investor all rolled into one.