BPL Realisations Limited (08493276): administration
- Status
- In administration
- Administration began
- 2023-08-30
- Administrators
- Mark Granville Firmin, Andrea Jakes
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Babylon Partners Limited
- Incorporated
- 2013-04-17
- Location
- Brighton
- Industry
- 86900 Other human health activities
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Parent or group failure
- Property / lease costs
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 17 April 2013 and is a wholly owned subsidiary of Babylon Group Holdings Limited (“BGHL”) which is a wholly owned subsidiary of Babylon Holdings Limited (“BHL”). BHL, together with its subsidiaries (“the Group”), provided technology driven preventative healthcare services, alongside other traditional healthcare activities, with over 10 million people globally having had access to the Group’s various platforms.
The Company licensed certain software and IT platform assets to third party healthcare providers. The Company also owned the majority of the Group’s intellectual property and trademark assets.
At the date of appointment, the Company operated from a leasehold property in London and employed 219 people which included the Group’s central finance, legal and HR functions, alongside 180 individuals aligned with the Group’s technology, product, sales, and applied sciences divisions. Typically, the Company operated with around 40 additional contractors, supporting the engineering / software development teams as required.
Administrators' statement of proposals (2023-09-16) · Companies House register