Transaction with Philips approved by SHL shareholders. SHL is to receive around USD 110 million as upfront cash consideration and debt
assumption.In addition, SHL will participate on a revenue sharing and royalty basis for up to 9 years in revenues of Raytel’s current services and certain future services to be introduced in North America for which certain minimum payments will be made pending achievement of agreed upon milestones. SHL will also benefit from the sales of its
proprietary telemedicine devices to Philips as well as from revenues emanating from Philips’ access to SHL’s future R&D. On consummation of the transaction SHL will record a significant capital gain, and going forward SHL anticipates its operations will generate a net profit together with significantly improved margins and cash position.
The closing of the transaction with Philips is scheduled for 30 November 2007.
Download Press Release
