Tel Aviv / Zurich, August 28, 2019 - SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN) ("SHL"), a leading provider and developer of advanced personal telemedicine solutions, announced today that that it has signed an agreement to acquire 51% of Netherlands based Kadima BV, 100% owner of 24CARE Inkoop BV, with an option to acquire the remaining 49% within 24 months of closing. The closing of the transaction is expected to take place by end of 2019 subject to signing of a definitive agreement.
24CARE Inkoop BV is a leading provider of arrhythmia monitoring services in the Dutch market, performing over twenty thousand annual ECG diagnosis for patients with heart rhythm disorders on behalf of a wide network of general practitioners. The service is reimbursed by all major health insurance companies. 24CARE has also been expanding into chronic care, working with leading Dutch hospitals on Congestive Heart Failure (CHF) patient management to reduce cost of care and improve outcomes. 24CARE has 22 employees and is expected to generate annual revenues of € 3 to € 4 M in 2019 and will be accretive to SHL.
Yoav Rubinstein, CEO of SHL, said: "With this acquisition, we expand our geographic footprint in Europe and reinforce SHL as the clear European telemedicine leader. The Kadima acquisition will further expand our chronic care business, which has been highly successful in Germany, and support the development of Kadima in the Dutch market."