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Shahal jumps on the wave of medicine remotely: Interested in registering for trading on the NASDAQ

Shahal Telemedicine announced on Monday that it is considering listing for trading on another stock exchange besides the Swiss stock exchange SIX. Among other things, the possibility of listing on the Nasdaq or the Tel Aviv Stock Exchange is being examined. Article link

The financial.

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The Nasdaq Stock Exchange has acquired several telemedicine (telemedicine) companies in recent years, which have become huge and opened up an appetite for the sector among American investors. For example, Teladoc is traded at a value of $ 42 billion, while American Wall, founded by Israelis Edo and Roi Sheinberg At a value of $ 7 billion.Article link

The shares of these companies have risen significantly following the corona crisis, which has given a big and unexpected boost to remote medicine.

Shahal explained in its reports for the first half of 2020 that for it the corona actually constituted a revenue constraint, mainly in its activities in Germany, due to the slowdown in the decision-making rate of hospitals regarding the adoption of new technologies, and the shift in attention from chronic patients to corona patients. However, the company stated that it sees the trend of moving to remote medicine as an opportunity and future potential for companies of its kind.

Acquired the German company Jumedi

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The giant companies from this sector traded on the Nasdaq, provide services similar to those of Shahal in that they include medical technology along with the provision of medical services, but their activity is more comprehensive and extensive and takes place in the US market, where the payment for such services is high. In Israel and Germany.

Shahal, who founded and leads the Elroy family, has pioneeredly developed, ahead of the market, remote monitoring technologies and a service system for its customers. Article link

The company specializes in the cardiology field. Shahal has its own monitoring products, which have received CE and FDA approvals, including a unique device that allows monitoring at the ECG level outside the hospital, with the help of a smartphone. Technology of virtual medical visits.

Most of Shahal’s revenues, managed by Erez Nachtomi, come from operations in Germany and Israel in cooperation with local health funds. Article link

The company’s revenues in Germany totaled $ 8.1 million in the first half of 2020 – a decrease of 11% compared to the same period in 2019. In Israel, its revenues increased to $ 11 million – a 3% increase over the same period last year. EBITDA (earnings before interest, taxes, depreciation and amortization) for this period was $ 2.8 million, compared to $ 6 million in the same period in 2019, while profit was only $ 100,000, compared to $ 3.9 million in 2019.

A few weeks ago, Shahal acquired the German company Jumedi, which has developed an array of digital health apps that are already in use by German health insurance companies for their customers. Shahal raised about 35 million Swiss francs (about $ 38 million) before the completion of the acquisition, which joined about $ 9 million that was in its coffers as of the end of the first half of 2020.

Recall that in 2015, an agreement was signed for the sale of Shahal to the Chinese corporation Shanghai Jiuchuan Investment, at a value of NIS 480 million. However, the deal was canceled because the Chinese government did not approve it, and Shahal’s share fell. After about a year, a group of investors who owned 30% of the company – Eyal Ofer, Shlomo Ben-Haim, the nostro company Barak Capital and Eli Elroy – agreed to sell its holdings for NIS 110 million.

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