SHL Telemedicine to Launch its Telemedicine Services in India

SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN), a leading provider and developer of advanced personal telemedicine solutions, today announced that it is entering the Indian healthcare market through collaborations with Indian hospitals with the aim of providing the SHL telemedicine solution to their patients.

The hospitals will offer the SHL telemedicine solution to their patients, as part of their routine out of hospital patient care programs. SHL shall provide the telemedicine service using its advanced telemedicine technologies, including the new smartheart device. In conjunction, SHL has signed the first of its kind collaboration agreement, with Belle Vue Clinic, a specialty hospital in Kolkata, India, and part of B.M Birla hospital chain group.

"With cardiac vascular diseases (CVD) threatening to become India’s largest cause of death by 2020 and remarkable growth of private healthcare spending, we foresee a tremendous opportunity in providing our services in the Indian market. SHL will focus first on tier I cities with an aggregate population size of over 60 million where the fast growing urban middle class is experiencing rapid growth of income coupled with modernization of lifestyle also leading to increased risk of CVD. We expect to generate USD 1 to 5 million from each such collaboration over the course of three years and to sign a series of additional, similar in nature, long term agreements with hospitals" stated Erez Alroy, Co-CEO of SHL Telemedicine.

And he added: "As we have stated over the past 2 years, we are investing significant effort in our strategic plan for geographic expansion. The launch of our services in India is a first step in realizing our plan. We are convinced India can serve as an additional significant growth engine for SHL in the coming years"

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