Philips Medical is a subsidiary of European electronics giant Philips. Ownership of the venture will be 19.9% SHL TeleMedicine and 80.1% Philips. SHL TeleMedicine received an option to increase its share to 35% in the next few years.
SHL TeleMedicine announced a cooperation agreement with Philips Medical today, aimed at developing new cardiology market areas in Europe. Philips Medical is a subsidiary of European electronics giant Philips.
Ownership of the venture will be 19.9% SHL TeleMedicine and 80.1% Philips. SHL TeleMedicine received an option to increase its share to 35% in the next few years. SHL TeleMedicine says that the venture will enable it to copy its business model in Europe as well. Philip Medical also signed global cooperation agreements with SHL TeleMedicine that include joint R&D activity.
Distance medical company SHL TeleMedicine is traded on Zurich’s SWX New Market.
Published by Israel's Business Arena on 28 January, 2001