SHL Telemedicine Ltd. Files 20-F Annual Report

TL;DR

<b>SHL Telemedicine Ltd. filed its 20-F annual report detailing financial metrics, asset valuations, and operational terms.</b>

AI Summary

SHL TELEMEDICINE LTD (SHMLF) filed a Foreign Annual Report (20-F) with the SEC on April 18, 2024. Billed accounts receivable terms are generally 30-60 days, with no material past-due receivables as of December 31, 2023 and 2022. The Prime rate was 6.25% as of December 31, 2023, up from 4.75% as of December 31, 2022. The company's goodwill recoverable amount is determined by a value in use calculation based on a five-year cash flow projection. The filing includes details on the gross carrying amount of various assets, including computer, medical, office, and vehicle equipment, as well as leasehold improvements and devices on loan, for the years 2021, 2022, and 2023. Expenses related to employee benefits and direct expenditures from restructuring are noted.

Why It Matters

For investors and stakeholders tracking SHL TELEMEDICINE LTD, this filing contains several important signals. The report provides specific details on asset carrying amounts and goodwill valuation, offering insight into the company's asset management and future financial projections. Information on accounts receivable terms and the prime rate indicates the company's financial health and the broader economic context it operates within.

Risk Assessment

Risk Level: low — SHL TELEMEDICINE LTD shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative developments.

Analyst Insight

Review the detailed asset carrying amounts and goodwill valuation to understand the company's investment in its operational infrastructure and future growth potential.

Key Numbers

• 30-60 — Days (Terms of billed accounts receivable)
• 0 — Past Due Receivables (Material billed receivables past due as of December 31, 2023 and 2022)
• 6.25% — Prime Rate (As of December 31, 2023)
• 4.75% — Prime Rate (As of December 31, 2022)
• 5 — Year Period (Cash flow projections for goodwill valuation)

Key Players & Entities

• SHL TELEMEDICINE LTD (company) — Filer
• 2023-12-31 (date) — Conformed Period of Report
• 2024-04-18 (date) — Filed as of Date
• 90 YIGAL ALON STREET (address) — Business Address
• TEL AVIV ISRAEL (location) — Business Address City/State
• 6.25% (percentage) — Prime rate as of December 31, 2023
• 4.75% (percentage) — Prime rate as of December 31, 2022

FAQ

Risk Factors

• Accounts Receivable Aging [low — financial]: Billed accounts receivable terms are generally 30-60 days, with no material past-due receivables as of December 31, 2023 and 2022.
• Goodwill Valuation [medium — financial]: The recoverable amount of goodwill is determined based on a value in use calculation using cash flow projections approved by senior management covering a five-year period.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 20-F filing.
• 2024-04-18: Filing Date — Date the 20-F was submitted to the SEC.

Glossary

20-F

An annual report required for foreign private issuers with securities registered in the U.S. (Provides comprehensive financial and operational information about the company.)

Filing Documents

• zk2431280.htm (20-F) — 4912KB
• exhibit_12-1.htm (EX-12.1) — 10KB
• exhibit_12-2.htm (EX-12.2) — 10KB
• exhibit_13-1.htm (EX-13.1) — 5KB
• exhibit_13-2.htm (EX-13.2) — 6KB
• exhibit_15-1.htm (EX-15.1) — 4KB
• image0.jpg (GRAPHIC) — 412KB
• image00001.jpg (GRAPHIC) — 46KB
• image00004.jpg (GRAPHIC) — 46KB
• image2.jpg (GRAPHIC) — 5KB
• image3.jpg (GRAPHIC) — 4KB
• 0001178913-24-001375.txt (&nbsp;) — 22246KB
• shlt-20231231.xsd (EX-101.SCH) — 133KB
• shlt-20231231_cal.xml (EX-101.CAL) — 73KB
• shlt-20231231_def.xml (EX-101.DEF) — 389KB
• shlt-20231231_lab.xml (EX-101.LAB) — 1420KB
• shlt-20231231_pre.xml (EX-101.PRE) — 661KB
• zk2431280_htm.xml (XML) — 5495KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b2 of the Exchange Act). Yes No Table of Contents Page ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 3 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 3 ITEM 3. KEY INFORMATION 3 ITEM 4. INFORMATION ON THE COMPANY 16 ITEM 4A. UNRESOLVED STAFF COMMENTS 29 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 29 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 42 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 55 ITEM 8. FINANCIAL INFORMATION 57 ITEM 9. THE OFFER AND LISTING 57 ITEM 10. ADDITIONAL INFORMATION 58 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 67 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 70 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 72 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 72 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 72 ITEM 16. [RESERVED] 73 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 73 ITEM 16B. CODE OF ETHICS 73 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 73 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 74 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 74 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFIED ACCOUNTANT 74 ITEM 16G. CORPORATE GOVERNANCE 74 ITEM 16H. MINE SAFETY DISCLOSURE 74 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 74 ITEM 16J. INSIDER TRADING POLICIES 74 ITEM 16K. CYBERSECURITY 74 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 75 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 75 ITEM 19. EXHIBITS 76 CONVENTIONS USED IN THIS ANNUAL REPORT In this Annual Report on Form 20F, unless the context otherwise requires: "SHL," "the company," "us," "we" and "our" refer to SHL Telemedicine Ltd. and its subsidiaries; "SHL Telemedicine" refers only to SHL Telemedicine Ltd., and "Mediton" refers to the Mediton Group, in which we acquired a 70% interest on August 31, 2021. Additionally, in this Annual Report: "CHF" and "Swiss francs" refer to the legal currency of Switzerland; "NIS" refers to New Israeli Shekels, the legal currency of the State of Israel; "

RISK FACTORS

RISK FACTORS The realization of one or more of the events described below may have a material adverse effect on our cash flows, results of operations, financial condition, growth prospects and the trading price of our ADSs on Nasdaq and of our ordinary shares on the SIX. You should note that the risks discussed below are not the only risks to which we are exposed. Additional risks, which are not presently known to us or which we currently believe to be immaterial, could likewise result in a material adverse effect on our cash flows, results of operations, financial condition or growth prospects and the trading prices of our ADSs and ordinary shares. This section also contains forward-looking information that involves risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors, including the risks described below and elsewhere in this Annual Report. The order in which the following risks are presented does not necessarily reflect the likelihood of their occurrence or the relative magnitude of their potential material adverse effects on our cash flows, results of operations, financial condition or growth prospects or the trading prices of our ADSs and ordinary shares. Industry-specific Risks We operate in a highly regulated industry and failure to comply with the complex regulations applicable to us could result in investigations, legal judgments or penalties, which could materially adversely affect our business. Our ability to conduct telehealth services and medical services is subject to a variety of laws and regulatory regimes of the countries and jurisdictions in which we operate and provide our services, including a variety of labor laws, privacy regulations, anti-corruption, anti-competition or financial relationships of healthcare providers with service providers. Such regulatory requirements can vary from country to country and new requirements may be imposed on

View Full Filing

View this 20-F filing on SEC EDGAR