OREANDA-NEWS. SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN), a leading provider and developer of advanced personal telemedicine solutions, today announced that it has signed a definitive agreement to acquire GPH (Gesellschaft f?r Patientenhilfe), based in Munich, for a cash purchase price of € 7.6 million. GPH’s nationwide German telemedicine programme Cordiva currently cares for about 10,000 chronic heart failure patients in daily regular care. GPH, a subsidiary of US-based Alere Inc., has AOK Bayern and AOK North East amongst its major clients.

In 2014 GPH's revenues amounted to € 9.2 million with a net profit of € 0.8 million. The acquisition represents a natural fit to SHL's German business and is expected to be accretive, already in 2015.

SHL expects to finance the transaction through a combination of existing cash and new debt. The transaction is expected to close within a short time-frame.

Erez Alroy, Co-CEO of SHL, said: “With this acquisition we further reinforce SHL as the clear telemedicine leader in Germany. With GPH, SHL will have four top tier health insurance companies as customers in Germany, including DKV, AOK Bayern, Barmer, and AOK North East.”

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. The Company operates in Israel, Germany, India and the United States in one business segment, Telemedicine services. SHL is listed on the SIX Swiss Exchange (SHLTN, ISIN: IL0010855885, Security No.: 1128957) and has an ADR program listed over-the counter; Symbol: SMDCY.