Second Quarter highlights
- Revenues of USD 11.6 million.
- EBITDA of USD 2.7 million (23.3% of revenues).
- EBIT of USD 1.5 million (12.9% of revenues).
- Net income of USD 1.2 million (10.3% of revenues).
- Dividend declared of USD 0.66 per share.
- Additional share buy-back of USD 2 million approved.
Tel Aviv/Zurich, 24 August 2011 – SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN), a
leading provider and developer of advanced personal telemedicine solutions, today
announced results for the second quarter and half year 2011.
Erez Alroy, Co-CEO of SHL Telemedicine, stated: “Revenues and profitability have developed
as expected during the first six months of 2011. Our Israeli business showed improved
financial performance. In Germany, we continue to focus on major high value contracts with
large Krankenkassen (Health Insurers) although this environment continues to be challenging
due to their continuing aggressive consolidation. A highlight in the first six months was the
presentation and positive reception of SHL’s innovative Smartheart cellular technology at the
TechCrunch event in the US.”
SHL continues concentrating on negotiating high value contracts with the large health
insurers. During the period SHL streamlined operations in Dusseldorf to accommodate for the
lower capacity currently needed.
A new study, based on the services provided by SHL Telemedizin, was published by the
Westdeutsche Zentrum für Diabetes (West German Center for Diabetes) affiliated to
Katholische Kliniken (catholic hospitals) in Dusseldorf. The objective of the Diabetiva® study
was to analyze the effects of six months telemedical care results of increased glucometabolic
control and quality of life in patients with type 2 diabetes mellitus (T2DM). 100 patients were
included in the study. Participation in the telemedical care program showed a significant
improvement of HbA1c (glycated hemoglobin) as well as cardiovascular risk factors, i.e.
weight, body-mass-index, fasting blood glucose and blood pressure. In parallel, a significant
decrease of diabetes specific impairment and increase in quality of life was observed. Patients
with depression especially, benefited from the telemedical care program as the number of
depressed patients decreased after three months from 64 to 35 and then to 29 at the end of
the six months.
Israel continued its good financial performance, showing improved operating margins. During
the period many new patients were recruited, based on agreements signed with Israeli health
insurers for the provision of telemedical services to their insured.
Smartheart: SHL’s latest innovation in the field of cardio telemedicine
SHL was selected to present its new telemedicine technology, the “Smartheart” at the
TechCrunch Disrupt Battlefield Conference in New York in May 2011. Smartheart is the
world’s smallest Hospital-Grade ECG that can be used by a non-professional end-user, is
slightly bigger than an iPhone 4 and weighs slightly less. The product generated much interest
at the Conference and SHL is currently examining several initiatives related to the launch of
his Smartheart platform.