Shanghai Jiuchuan Buys Israeli Telemedicine Co. SHL For $130 mm

SHL Telemedicine Ltd., headquartered in Tel Aviv, a leading provider and developer of advanced personal telemedicine solutions, and Shanghai Jiuchuan Investment (Group) Co., Ltd., a Shanghai based private investment firm, announced today that Shanghai Jiuchuan will acquire the entire share capital of SHL by way of a reverse triangular merger following which SHL would become a wholly owned subsidiary of Shanghai Jiuchuan.

After consummation of the merger, expected to happen in October, a delisting of SHL from the SIX Swiss Exchange will take place.

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 and has an ADR program listed over-the counter.

Shanghai Jiuchuan Investment (Group) Co., Ltd. is a Shanghai based private investment firm having also holdings in a company principally engaged in development in the medical science and technology field.