- Revenues for the quarter of USD 6.9 million
- EBITDA for the quarter of USD 0.6 million
- LBIT for the quarter of USD 0.6 million
- Net loss for the quarter of USD 1.5 million
- Positive shift in Germany
Tel Aviv/Zurich, 30 May 2012– SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN),
a leading provider and developer of advanced personal telemedicine solutions, today
announced results for the first quarter of 2012.
Erez Alroy, Co-CEO of SHL, commented: “Our results for the first quarter of 2012 are
in line with our assessments. They reflect the transition period evidenced in Germany
concurrently with the cessation of revenues from Philips US. We are very pleased to
have signed recently a major contract with IKK Südwest in Germany, and to have won a
multi-year tender with AOK BAYERN, one of the two largest health insurers in Germany,
for the provision of telemedicine services to insured with Chronic Obstructive Pulmonary
Disease (COPD). We expect revenues and financial performance to pick up gradually as
we begin executing these new contracts.”
Strategic shift in Germany
Within two months, SHL was able to secure a major contract with a health insurer in
Germany and win a second significant tender. In March, SHL entered into a
comprehensive large scale agreement with IKK Südwest for the provision of
telemedicine services to the IKK’s insured who suffer from chronic conditions,
specifically heart patients. In May, SHL won a multi-year tender with AOK BAYERN, one
of the two largest health insurers in Germany, with over 4 million insured, for the
provision of telemedicine services to those suffering from COPD. The agreement is
expected to be closed early Q3.
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