The tech company behind the NHS’s GP at Hand app has warned it is on the brink of collapse as it launched a fire sale of its assets.

Babylon Health, which provides virtual appointments and a symptom-checker app, said it is looking to offload “its UK business to third parties”, which includes the GP at Hand service that serves over 100,000 NHS patients. 

In a regulatory filing on Tuesday, the business said it was exploring rescue options in both the US and UK after a deal to merge with MindMaze, a Swiss healthcare technology firm, fell apart. 

Babylon warned it may not be able to secure enough cash “to fund the operations of the group’s businesses”, but it is understood its UK arm will continue for the time being. 

Once viewed as one of Britain’s most promising start-ups, Babylon listed in the US for $4bn (£3.1bn) less than two years ago. 

However, it was forced into a restructuring deal in May after its share price plunged by more than 99 percent, wiping billions of dollars off its value.