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19.Investments in Subsidiaries and Associates
The Group and Company have the following investments:
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Ownership |
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Ownership |
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(As of |
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(As of |
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Country of |
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December 31, |
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December 31, |
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Subsidiary Undertakings |
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Incorporation |
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Principal Activity |
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2021) |
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2020) |
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Company: |
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Babylon Partners Limited |
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UK |
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Application development |
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100.0 |
% |
100.0 |
% |
Babylon Healthcare Services Limited |
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UK |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Rwanda Limited |
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Rwanda |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Inc. |
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USA |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Health Canada Limited |
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Canada |
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Digital Healthcare services |
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— |
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100.0 |
% |
Babylon Liberty Corp. |
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USA |
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Digital Healthcare services |
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100.0 |
% |
— |
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Babylon Malaysia SDN BHD |
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Malaysia |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon International Limited |
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UK |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Health Ireland Limited |
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Ireland |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Singapore PTE Limited |
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Singapore |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Health Innovators Inc. |
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USA |
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Digital Healthcare services |
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100.0 |
% |
70.1 |
% |
Babylon Acquisition Corp. |
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USA |
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Digital Healthcare services |
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— |
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100.0 |
% |
Babylon Technology LTDA |
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Brazil |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Higi SH Holdings Inc. |
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USA |
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Digital Healthcare services |
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100.0 |
% |
19.0 |
% |
Group: |
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Babylon Healthcare Inc. |
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USA |
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Digital Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Healthcare NJ, PC |
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USA |
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Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Healthcare, PLLC |
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USA |
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Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Medical Group (formerly Marcus Zachary DO), PC |
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USA |
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Healthcare services |
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100.0 |
% |
100.0 |
% |
California Telemedicine Associates, PC |
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USA |
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Healthcare services |
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100.0 |
% |
100.0 |
% |
Telemedicine Associates, P.C. |
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USA |
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Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Healthcare, PC |
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USA |
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Healthcare services |
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100.0 |
% |
100.0 |
% |
Babylon Healthcare NC, PC |
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USA |
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Healthcare services |
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— |
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100.0 |
% |
Babylon Healthcare, PA |
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USA |
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Healthcare services |
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100.0 |
% |
— |
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Meritage Medical Network |
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USA |
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Healthcare services |
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100.0 |
% |
— |
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Meritage Health Ventures, LLC |
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USA |
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Healthcare services |
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100.0 |
% |
— |
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Meritage Health Plan |
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USA |
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Healthcare services |
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100.0 |
% |
— |
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Meritage Management, LLC |
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USA |
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Healthcare services |
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100.0 |
% |
— |
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Higi SH LLC |
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USA |
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Digital Healthcare services |
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100.0 |
% |
19.0 |
% |
Higi Health Holdings LLC |
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USA |
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Digital Healthcare services |
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100.0 |
% |
— |
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Higi SH Canada ULC |
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Canada |
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Digital Healthcare services |
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100.0 |
% |
19.0 |
% |
Higi Health LLC |
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USA |
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Digital Healthcare services |
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51.0 |
% |
— |
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Health Innovators Limited |
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UK |
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Digital Healthcare services |
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100.0 |
% |
70.1 |
% |
DTDHI Health India PVT Ltd |
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India |
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Digital Healthcare services |
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97.8 |
% |
68.6 |
% |
Babylon Acquisition Corp. merged with Higi SH on December 31, 2021, with Higi SH Holdings Inc. being the surviving entity.
Professional service corporations
As discussed in Note 2, we consolidated certain PCs which are owned, directly or indirectly, and operated by licensed physicians. The following provides summary financial data for the PCs that are included in the Consolidated Financial Statements:
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As of December 31, |
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2021 |
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2020 |
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$’000 |
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$’000 |
Total assets |
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104,703 |
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35,535 |
Total liabilities |
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168,240 |
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42,699 |
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For the Year Ended December 31, |
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2021 |
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2020 |
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$’000 |
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$’000 |
Total revenues |
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154,508 |
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17,436 |
Cost of care delivery |
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(155,191) |
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(20,175) |
Sales, general & administrative expenses |
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(55,006) |
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(3,799) |
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