Chinese private equity investor Cai Mengke, co-founder and vice chairman of medical device company Zhuhai Hokai Medical Instruments Co. Ltd. (SHE:300273), has acquired a 29.85 percent stake in Tel Aviv-based SHL Telemedicine Ltd. (SIX: SHLTN, OTCPK: SMDCY), a leading provider and developer of advanced personal telemedicine solutions.
Mengke acquired her stake by buying out roughly 3.25 million shares of SHL from a group of shareholders including Copper Valley Finance Ltd., Prime Finance Corp., Barak Capital Ltd., and Eli Alroy.
“We welcome Mrs. Cai Mengke as new core shareholder,” said Uzi Blumensohn, who became SHL’s chairman in February. “China is clearly a market offering a lot of potential for telemedicine,” he added, and SHL “will engage with Cai Mengke in discussions,” as to “how to best exploit it.”
“We believe in the future of SHL, in its assets and management. The company’s unique telemedicine platform offers a lot of potential for growth. We have a track record of engaging with the Boards of our shareholdings in a constructive way, with the goal to create long-term value,” said Mengke.
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. The company operates in Israel, Germany, India and the United States in one business segment, Telemedicine services.
SHL Telemedicine offers its services and personal telemedicine devices to subscribers utilizing telephonic and Internet communication technology.
SHL equips its users with a Telemedicine device to transmit a complete ECG, which is easy to use allowing them to send their ECG transmission within seconds to SHL’s telemedicine center.
SHL’s medical monitoring center operates around the clock, 24 hours a day and 365 days a year and is staffed by an experienced medical team including physicians and nurses that were specifically trained in Telemedicine. The medical team is capable of remotely evaluating the medical data, knows how to read the ECG data and provides immediate and relevant medical assistance at any given moment.
For each user an personal health record is created, which is automatically updated with each new incoming ECG transmission and which includes the relevant medical history and up to date information on the user’s current state of health by continuously comparing the data with past medical events and the baseline ECG measurement. The personal health record is available via secure Internet access and is accessible to the user and to physicians that have been authorized by the user.