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
*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
*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,
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
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