Saudi-Backed U.K. Health App Babylon Ends Deal with Tencent

Babylon Healthcare has pulled back from China, where it had a partnership with Tencent Holdings Ltd.’s WeChat, after the company “couldn’t come up with a commercially viable model,” Chief Executive Officer Ali Parsa said.

“The Chinese government and the Chinese partners insist on them taking most of the shares of any partnerships,” Parsa said in an interview. “I don’t think the balance is right at the moment.”