Walkers' Jersey team has advised on the merger of digital care specialist Babylon Health with Alkuri Global Acquisition Corp, a special purpose acquisition company.
The transaction implies an initial pro forma equity value of $4.2bn.
On completion of the deal, expected in the second half of 2021, the combined company will operate as Babylon and plans to trade on Nasdaq under the new symbol BBLN.
Babylon Health was founded in the UK in 2013 and provides services to 24 million patients across four continents.
The company's revenue is reported to have increased fivefold in 2020, and is expected to grow again by about four times in 2021.
The Walkers team are longstanding advisers on matters of Jersey law for Babylon. Partner Jonathan Heaney and Group Partner Dilmun Leach led the Walkers team on the transaction, working with lead counsel Allen & Overy (London) and Wilson Sonsini Goodrich & Rosati (New York).
The team also included Senior Associate Tom Fothergill and Associates Luke Steele and Ruth Donnellan.
Walkers Jersey advised on the Jersey corporate and regulatory aspects of the deal, as well as on the corporate governance, incentive schemes and operational requirements around becoming a listed public company.