SHL TeleMedicine divests Bikurofe Ltd.

its Israeli outpatient clinics and doctor visit services. SHL expects to record a capital gain of around USD 9 million.
The divesture of Bikurofe is in line with SHL’s stated strategy to focus on its core telemedicine activities. Based on the recent progress of its international telemedicine operations, SHL is concentrating on the growth opportunities in Germany and the U.S.SHL will also receive from Bikurofe payment of previously announced dividends and other debts in the amount of USD 4.3 million and will continue to render various services to Bikurofe for a total amount of USD 1.5 million.
SHL is expected to record in the third quarter of 2005 a capital gain of around USD 9 million from the divesture. SHL will utilise the proceeds from the sale to grow its international telemedicine businesses, mainly in Germany, and to reduce outstanding loans.

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