Closing of transaction with Philips has been scheduled for November 30th
Expected closing of the transaction with Philips
The closing of the transaction with Philips has now been scheduled for November 30th,subject to the expected approval and authorization of the transaction with Philips by SHL’s shareholders in a Special General Meeting on 27 November 2007.
On consummation of the transaction SHL will record a significant capital gain, and going forward SHL anticipates an overall decrease in revenues while margins and cash position are expected to significantly improve.
Divestment of remaining cardiovascular labs in the US SHL signed agreements and completed the divestment of its remaining Cardio
Vascular labs in the US, which are now all categorized as discontinued operations.
Continued progress in Germany and Israel SHL showed continued progress in its businesses in Germany and Israel.
PHTS Telemedizin, SHL’s wholly owned subsidiary in Germany, continued to grow with revenues for the nine months of 2007 increasing by over 70% compared to the 9 months of 2006, and to attract new health insurers for agreements with CHF (Congestive heart failure) patients. The insurance companies reimburse patients for
these services and refer them to PHTS. With the very recent appointment of Prof. Dr. med. Klaus Pethig, a renowned cardiologist, PHTS further expanded its Medical Advisory Board, which already includes two prominent cardiologists, Prof. Nienaber and Prof. Lüderitz.
FDA Clearance for the new cellular-based digital Arrhythmia Monitor
SHL announced the FDA clearance of a proprietary Arrhythmia looping Monitor, a first in a new family of wireless, cellular-based devices developed by SHL for diagnostic arrhythmia services. This device will be the first “all in one” wireless cellular looping monitor available in the world and further strengthens SHL’s device and service
offerings.
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