SHL provides preliminary update on financial results for 1HY2020 Freitag, 07. August 2020 - 07:00

Press release

Tel Aviv / Zurich, 7 August 2020 – SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN) (“SHL” or the “Company”), a leading provider and developer of advanced personal telemedicine solutions, today announces an update relating to its financial results for 1HY2020.

Early in the COVID-19 pandemic the Company took various measures to allow it to continue to operate safely and seamlessly while adopting new operational models to service and recruit customers, as well as providing protected working environment to its employees.

These measures include implementation of different operating processes, both in Israel and Germany, such as self-contained shifts (“capsules”) and deployment of a considerable part of its workforce to working remotely, all of which are supported by IT and communication solutions. Given the continued prevalence of COVID-19 (Israel is still severely affected by a second, stronger wave) and it being a rolling event these operational changes are ongoing, causing decreased operational efficiency and increased costs.

In addition, in Germany, SHL experienced slower recruitment of patients to its Chronic Disease Telehealth Programs, along with a decline in service utilization by one of its institutional payors with whom the engagement will end this year. The Company doesn’t expect performance-based income this year.

As a result, based on preliminary unaudited numbers, SHL expects to record Revenues of approximately USD 19.3 million and an EBITDA in the range of USD 1.7 to 2.3 million for 1HY2020.

SHL will disclose the financial statements for 1HY 2020 on 30 September 2020.

For further information please contact:

Martin Meier-Pfister, IRF, Phone: +41 43 244 81 40, shl@irf-reputation.ch

About SHL Telemedicine

SHL Telemedicine is engaged in developing and marketing personal telemedicine systems and the provision of medical call center services, with a focus on cardiovascular and related diseases, to end users and to the healthcare community. SHL Telemedicine offers its services and personal telemedicine devices to subscribers utilizing telephonic and Internet communication technology. SHL is listed on the SIX Swiss Exchange (SHLTN, ISIN: IL0010855885, Security No.: 1128957). For more information, please visit our web site at www.shl-telemedicine.com.

Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. SHL Telemedicine undertakes no obligation to publicly update or revise any forward-looking statements.