SHL TELEMEDICINE LTD. Press release
SHL provides preliminary update on financial results for 1HY2020
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
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