Two hospital funds NHS in the UK lost almost 15 million pounds ($18 million) due to a collapse in the value of a start-up in the field of artificial intelligence. Writes about it The Register.
Since 2017, a number of foundations and hospitals have made a deal with AI-assisted drug development company Sensyne Health. As a result of the agreement, the institutions exchanged patient data for shares.
The company has since been delisted from AIM, which is part of the London Stock Exchange.
In recently released financial reports, Oxford University Hospital said it lost 9.2 million pounds ($11.06 million) of the value of the shares received. The Chelsea and Westminster Hospital NHS Foundation Trust said the value of its securities fell by 5.4 million pounds ($6.49 million).
In 2017, Oxford University Hospital received £5 million ($6 million) of equity capital from Sensyne, then called Drayson Technologies. In a report for 2020-2021, the institution valued its capital at 7.3 million pounds ($8.78 million).
However, the trust’s 2021-22 annual report shows that its investments in associates and joint ventures have lost £9.16m ($11m). The reason given is “revaluation of Sensyne Health PLC’s shareholding due to a drop in share price over the year.”
In 2018, the NHS Foundation Trust received £5m ($6m) in a similar deal. In 2021, the value of the shares was estimated at 5.77 million pounds ($6.94 million). However, in March 2022, their cost was 387,000 pounds ($465,000).
Promotions Sensyne expelled from the AIM listing in May 2022 following the conclusion of a funding agreement which resulted in the introduction of a new management team.
According to The Register, at least seven NHS trusts suffered from the fall in the value of the company.
Recall that in September 2021, a class-action lawsuit was filed against DeepMind due to the use of patient data in the UK.
Subscribe to Cryplogger news in Telegram: Cryplogger AI – all the news from the world of AI!
Found a mistake in the text? Select it and press CTRL+ENTER
Two hospital funds NHS in the UK lost almost 15 million pounds ($18 million) due to a collapse in the value of a start-up in the field of artificial intelligence. Writes about it The Register.
Since 2017, a number of foundations and hospitals have made a deal with AI-assisted drug development company Sensyne Health. As a result of the agreement, the institutions exchanged patient data for shares.
The company has since been delisted from AIM, which is part of the London Stock Exchange.
In recently released financial reports, Oxford University Hospital said it lost 9.2 million pounds ($11.06 million) of the value of the shares received. The Chelsea and Westminster Hospital NHS Foundation Trust said the value of its securities fell by 5.4 million pounds ($6.49 million).
In 2017, Oxford University Hospital received £5 million ($6 million) of equity capital from Sensyne, then called Drayson Technologies. In a report for 2020-2021, the institution valued its capital at 7.3 million pounds ($8.78 million).
However, the trust’s 2021-22 annual report shows that its investments in associates and joint ventures have lost £9.16m ($11m). The reason given is “revaluation of Sensyne Health PLC’s shareholding due to a drop in share price over the year.”
In 2018, the NHS Foundation Trust received £5m ($6m) in a similar deal. In 2021, the value of the shares was estimated at 5.77 million pounds ($6.94 million). However, in March 2022, their cost was 387,000 pounds ($465,000).
Promotions Sensyne expelled from the AIM listing in May 2022 following the conclusion of a funding agreement which resulted in the introduction of a new management team.
According to The Register, at least seven NHS trusts suffered from the fall in the value of the company.
Recall that in September 2021, a class-action lawsuit was filed against DeepMind due to the use of patient data in the UK.
Subscribe to Cryplogger news in Telegram: Cryplogger AI – all the news from the world of AI!
Found a mistake in the text? Select it and press CTRL+ENTER
