SHL Telemedicine German operation receives notice, following a tender process, regarding discontinuation of a large Chronic Disease Telehealth contract Dienstag, 12. Januar 2021 - 06:45

Press release

Tel Aviv/Zurich, 12 January 2021 - SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN) ("SHL” or the “Company”), a leading provider and developer of advanced personal telemedicine solutions, today announced that its German subsidiary was informed by one of its health insurance customers that following a tender process the customer decided to award the contract to a different provider, a global healthcare company.

Erez Nachtomy, CEO of SHL, commented: “The German telemedicine market is growing rapidly and becoming more competitive. In 2021, the discontinuation of this contract will result in revenue reduction of about USD 3.0 million. While we regret to have received this notice, we have a good pipeline and hence believe we will be able to offset for this reduction. We are confident in the success and continued growth of our German business by continuing to provide our service offerings and through the launch of new contracts, offerings and technologies.”

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.