Alroy Group to lead buy out of Philips’ holdings in SHL


Tel Aviv/Zurich, 19 April 2010 – SHL Telemedicine Ltd. (SIX: SHLTN), a leading provider and developer of advanced personal telemedicine solutions, announced today that it was informed by its shareholder, the Alroy Group, that as a result of Philips’ strategic policy to divest its non-core shareholdings, the Alroy Group, together with European and Israeli private investors, has responded to Philips’ request and will acquire Philips’ 18.8% holding in SHL Telemedicine Ltd. The Alroy Group’s participation in the transaction is around 12.5% which on closing will bring its shareholding in SHL to approximately 32%. No financial details will be disclosed.

Erez Alroy, Co-CEO of SHL Telemedicine, commented: “On behalf of the Alroy Group we respect the decision by Philips to divest their holdings in SHL. As we strongly believe in SHL’s future we welcome the opportunity to significantly increase the Alroy Group’s holdings in the Company. We shall continue to develop SHL’s business with the same strategy which we have successfully adopted these last years and look forward to consistent and profitable growth in future years as a result of our endeavors.”

The new private investors include Eli Alroy who is Chairman of the Supervisory Board of GTC Poland, a real estate company that has become one of the leading developers in Central & Eastern Europe. Eli Alroy is not related to the Alroy family which founded SHL.

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