Registration statement for securities of certain foreign private issuers

Investments in Subsidiaries and Associates (Tables)

v3.21.2
Investments in Subsidiaries and Associates (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Text block [abstract]    
Schedule of Investments in Subsidiaries, Groups and Associates
The Group and Company have the following investments:
 
Subsidiary undertakings
  
Country of
Incorporation
     
Principal Activity
     
Ownership
(As at
June 30,
2021)
  
Company:
                          
Babylon Partners Limited     London, UK        Application development  
 		      100.0 % 
Babylon Healthcare Services Limited     London, UK        Digital Healthcare services  
 		      100.0 % 
Babylon Rwanda Limited     Kigali, Rwanda        Digital Healthcare services  
 		      100.0 % 
Babylon Inc.     Delaware, USA        Digital Healthcare services  
 		      100.0 % 
Babylon Malaysia SDN BDN     Kuala Lumpur, Malaysia  
 		      Digital Healthcare services  
 		      100.0 % 
Babylon International Limited     London, UK        Digital Healthcare services  
 		      100.0 % 
Babylon Health Ireland Limited     Cork, Ireland        Digital Healthcare services  
 		      100.0 % 
Babylon Singapore PTE Limited     Singapore        Digital Healthcare services  
 		      100.0 % 
Health Innovators Inc     Delaware, USA        Digital Healthcare services  
 		      78.0 % 
Babylon Acquisition Corp     Delaware, USA        Digital Healthcare services  
 		      100.0 % 
Babylon Technology LTDA     Brazil        Digital Healthcare services  
 		      100.0 % 
Group:
                    
Babylon Healthcare Inc     Delaware, USA        Digital Healthcare services  
 		      100.0 % 
Babylon Healthcare NJ, PC     New Jersey, USA  
 		      Healthcare services        100.0 % 
Babylon Healthcare, PLLC     Maine, USA        Healthcare services        100.0 % 
Babylon Medical Group (formerly Marcus Zachary DO), PC     California, USA        Healthcare services        100.0 % 
California Telemedicine Associates, PC     California, USA        Healthcare services        100.0 % 
Telemedicine Associates, PC     Maine, USA        Healthcare services        100.0 % 
Babylon Healthcare, PC     Illinois, USA        Healthcare services        100.0 % 
Babylon Healthcare NC, PC     North Carolina, USA  
 		      Healthcare services        100.0 % 
Babylon Healthcare, PA     Pennsylvania, USA  
 		      Healthcare services        100.0 % 
Meritage Medical Network     California, USA        Healthcare services        100.0 % 
Meritage Health Ventures, LLC     California, USA        Healthcare services        100.0 % 
Subsidiary undertakings
  
Country of
Incorporation
     
Principal Activity
     
Ownership
(As at
June 30,
2021)
  
Group:
                    
Meritage Health Plan     California, USA        Healthcare services        100.0 % 
Meritage Management, LLC     California, USA        Healthcare services        100.0 % 
Meritage ACO, LLC     California, USA        Healthcare services        100.0 % 
First Choice 360 Care Solutions     California, USA        Healthcare services        100.0 % 
       
Investment in Associates:
                          
       
Higi SH Holdings Inc.     Delaware, USA        Digital Healthcare services  
 		      25.0 % 
The Group and Company have the following investments:
 
Subsidiary undertakings
  
Country of Incorporation
    
Principal Activity
    
Ownership
(As at
December 31,
2020)
    
Ownership
(As at
December 31,
2019)
  
Company:
                                
Babylon Partners Limited     London, UK       Application development       100.0 %      100.0 % 
Babylon Healthcare Services Limited     London, UK       Digital Healthcare services       100.0 %      100.0 % 
Babylon Rwanda Limited     Kigali, Rwanda       Digital Healthcare services       100.0 %      100.0 % 
Babylon Inc.     Delaware, USA       Digital Healthcare services       100.0 %      100.0 % 
Babylon Health Canada Limited     British Columbia, Canada       Digital Healthcare services       100.0 %      100.0 % 
Babylon Malaysia SDN BDN     Kuala Lumpur, Malaysia       Digital Healthcare services       100.0 %      100.0 % 
Babylon International Limited     London, UK       Digital Healthcare services       100.0 %      100.0 % 
Babylon Health Ireland Limited     Cork, Ireland       Digital Healthcare services       100.0 %      100.0 % 
Babylon Singapore PTE Limited     Singapore       Digital Healthcare services       100.0 %      100.0 % 
Health Innovators Inc     Delaware, USA       Digital Healthcare services       70.1 %      58.0 % 
Babylon Acquisition Corp     Delaware, USA       Digital Healthcare services       100.0 %      —    
Babylon Technology LTDA     Brazil       Digital Healthcare services       100.0 %      —    
Group:
                                
Babylon Healthcare Inc     Delaware, USA       Digital Healthcare services       100.0 %      —    
Babylon Healthcare NJ, PC*     New Jersey, USA       Healthcare services       100.0 %      —    
Babylon Healthcare, PLLC*     Maine, USA       Healthcare services       100.0 %      —    
Marcus Zachary DO, OC*     California, USA       Healthcare services       100.0 %      —    
California Telemedicine Associates, PC*     California, USA       Healthcare services       100.0 %      —    
Telemedicine Associates, PC*     Maine, USA       Healthcare services       100.0 %      —    
Babylon Healthcare, PC*     Illinois, USA       Healthcare services       100.0 %      —    
Babylon Healthcare NC, PC*     North Carolina, USA       Healthcare services       100.0 %      —    
         
Investment in Associates:
                                
Higi SH Holdings Inc.  
 
 Delaware, USA
 
  
 
 Digital Healthcare services
 
     19.0 %      —    
 
*
Subsidiary is a PC, which is included in the Consolidated Financial Statements of the Group on the basis of control. Refer to Note 2 for additional discussion.
Summary of Financial Information of Associate
The following table summarizes the financial information of Higi as of June 30, 2021:
 
    
$’000
  
Non-current
assets
      684  
Current Assets
      8,250  
Non-current
liabilities
      (7,000 ) 
Current liabilities
      (3,244 ) 
    
 
 
  
Net assets (100%)
     
(1,310
)
 
Revenue
      4,621  
    
 
 
  
Total comprehensive loss
     
(5,621
)
 
    
 
 
  
The following table summarizes the financial information of Higi as of December 31, 2020:
 
    
$’000
  
Non-current
assets
      1,792  
Current Assets
      10,403  
Non-current
liabilities
      8,670  
Current liabilities
      4,661  
    
 
 
  
Net assets (100%)
   
 
(1,136
) 
Revenue
      9,486  
    
 
 
  
Total comprehensive loss
   
 
(13,558
) 
Summary of Financial Data for the Subsidiary Included in the Interim Financial Statements
As discussed in Note 2, we consolidated certain professional service corporations (“PCs”) which are owned, directly or indirectly, and operated by licenses physicians. The following provides summary financial data for the PCs that are included in the Interim Financial Statements:
 
    
June 30,
2021
     
December 31,
2020
  
    
$’000
     
$’000
  
Total assets
      66,489        35,535  
Total liabilities
      81,429        42,699  
 
    
Six Months Ended June 30,
  
    
2021
     
2020
  
    
$’000
     
$’000
  
Total revenues
      35,786        1,036  
Operating expenses:
                  
Cost of care delivery
      (36,710 )       (942 ) 
Sales, general and administrative expenses
      (4,404 )       (119 ) 
    
 
 
     
 
 
  
Total operating expenses
   
 
(41,114
) 
   
 
(1,061
)