Chinese investment co buying SHL Telemedicine

Erez Alroy

Shanghai Jiuchuan will pay $130 million for 100% of SHL Telemedicine's shares.

Israeli telemedicine company SHL Telemedicine Ltd. (SHLTN) announced this morning that Shanghai Jiuchuan of China is to buy 100% of its shares at a valuation of $130 million.

SHL Telemedicine, jointly managed by Erez Alroy and Yariv Alroy, is traded in Switzerland. The company said that its shareholders would receive 10.5 Swiss francs for each share held, a price that represents a 13% premium over the company's closing price on Friday.

Shanghai Jiuchuan is a privately held investment company with a wide variety of interests, including in medicine (technology, services, and IT). It owns more than 3,000 hospitals in China and provides information systems to hospitals and clinics serving over 30 million people.

Shanghai Jiuchuan says that it sees SHL Telemedicine as a strategic investment representing a platform for penetrating the Chinese market through the leading company in its field in the world.

Published by Globes [online], Israel business news - www.globes-online.com - on July 27, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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