Press release SHL Telemedicine to launch its telemedicine services in India *Signs first contract with private hospital in Kolkata *Series of agreements expected in 2013 *Expect to generate USD 1 to 5 million from each such agreement over the course of three years Tel Aviv/Zurich, 11 March 2013 - 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" Based on extensive research and groundwork, SHL believes that the Indian market possesses a great opportunity for its telemedicine services: *CVD prevalence in India has risen four-fold in the past four decades. *According to the WHO, cardiovascular diseases (CVD) will be the largest cause of death and disability by 2020 in India. *In 2020, 2.6 million Indians are predicted to die due to coronary heart disease. Nearly half of these deaths are likely to occur in young and middle aged individuals (30-69 years). *Currently Indians experience CVD deaths at least a decade earlier than their counterparts in countries with established market economies (EME). *It is expected that by 2015 over 60 million individuals will suffer from CHD *80% of healthcare costs in India are paid out of pocket. *India is experiencing a fast growing urban middle class with increasing purchasing power and growing expenditure on private healthcare services *Top 20 cities (Tier 1 and 2) account for just 10% of the population (~120M) but earn more than 30% of the income and spend over 20% of the consumption. *Private health insurance is relatively new in India but growing rapidly (36% CAGR in 2008-2010). *Indians are paying western prices for premium services (spa, gym, vacations, restaurants, technologies, appliances etc.). *Average time to get to a hospital in MI cases is greater than 3 hours due to extremely congested cities. About SHL Telemedicine SHL Telemedicine Ltd. specializes in developing and marketing advanced personal telemedicine systems as well as providing comprehensive telemedicine solutions including medical call centers to individuals and to the healthcare community. As a leading provider of remote health services in cardiology and in other medical areas, SHL maintains business operations in Europe, mainly in Germany, and at its home market in Israel. SHL is listed on the SIX Swiss Exchange (SHLTN, ISIN: IL0010855885, Security No.: 1128957). More information available at: www.shl-telemedicine.com. For further information please contact: *Erez Alroy, Co-CEO, Phone: +972 3561 22 12, email@example.com *Martin Meier-Pfister, IRF Communications, Phone: +41 43 244 81 40, firstname.lastname@example.org 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. Press Release (PDF) Provider Channel Contact Tensid Ltd., Switzerland newsbox.ch Provider/Channel related enquiries www.tensid.ch www.newsbox.ch email@example.com +41 41 763 00 50
SHL Telemedicine to launch its telemedicine services in India
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