Lots of people had serious concerns about Babylon Health - mostly around obviously false claims of accuracy - for years, and it was baffling to see them keep getting money.
And the real story is pretty grim - copious amounts of corruption and deception, and a system not holding them to account.
It's notable that a key feature of their model - quick access GP appointments to push patients to private secondary care (where the people providing the GP appointments and the people providing the hospital care are in the same company) did not work, and could not work because the finances didn't make any sense even with the corruption and deception.
There are often discussions around NHS models of care, and people will suggest moving to a mix of public and private, or private but non profit insurance models. The simple fact is the model doesn't matter: healthcare doesn't work unless you fund it.