Telemedicine / Remote Patient Monitoring / Health Information Services
Strategic Profile
SHL's core offering is the SmartHeart platform, a 12-lead electrocardiogram (ECG) that enables a full, hospital-quality ECG to be performed by a lay-person without the assistance of a healthcare professional. The company has a collaboration agreement with Mayo Clinic to evaluate outcomes for heart attack patients using SmartHeart FDA approved 12 lead ECG. Geographically, Israeli operations account for about 77% of total revenues whilst the German business contributes 22%.
Cyborg Score Rationale
FY2024 revenues remained stable at USD 57 million, approximately equivalent to 2023 revenue, indicating stagnation. The company announced in March 2025 its intention to voluntarily delist from Nasdaq, signaling capital constraints. However, the company acquired the remaining 30% stake of Mediton Group in March 2025, showing continued strategic consolidation despite financial headwinds.
Top Insights
Nasdaq delisting reflects strategic pivot to SIX Swiss Exchange as primary listing, reducing US investor visibility
FY2024 revenue flat at $57M; German operations impacted by market challenges and technology investment requirements
SmartHeart devices and at-home biomarker blood tests represent high-potential innovation for rapid cardiac diagnosis
Mayo Clinic partnership validates clinical efficacy and positions company for broader US healthcare adoption
Named Competitors
Teladoc Health — Largest virtual care platform; broad generalist services
Remote Patient Monitoring — Mobile ECG devices; personal cardiac monitoring
Digital Health Platforms — Telehealth generalist platforms competing for consumer adoption
Recent Developments
(March 2025) Announced voluntary delisting from Nasdaq Capital Market; maintains SIX Swiss Exchange listing
(March 2025) Completed acquisition of remaining 30% stake in Mediton Medical Centers and Medishur Ltd.
(May 2024) Launched SmartHeart membership program in the US market
(May 2024) Expanded Israeli service offerings with at-home biomarker blood test capability
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