SHL Telemedicine (SHLT) 6-K 26 Sep 24 2024 Q2 SHL announces half-year results 2024 Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information
Document Type	6-K
Document Period End Date	Jun. 30, 2024
Entity Registrant Name	SHL TELEMEDICINE LTD
Entity Central Index Key	0001166834
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 10,890	$ 6,693	$ 10,435
Short-term investments	9,435	19,557	19,004
Trade receivables	7,805	8,557	8,788
Inventory	2,902	3,459	3,995
Other accounts receivable	2,080	1,792	2,176
Total current assets	33,112	40,058	44,398
NON-CURRENT ASSETS:
Inventory	1,915	1,913	1,572
Prepaid expenses	2,941	3,220	3,234
Call option to non-controlling interests, net	0	147	0
Long-term deposits	317	328	334
Right-of-use assets	6,909	7,214	10,695
Deferred taxes	1,601	2,055	2,213
Total non-current assets other than long-lived assets	13,683	14,877	18,048
PROPERTY AND EQUIPMENT, NET	4,997	4,892	4,814
GOODWILL	31,814	32,965	32,320
INTANGIBLE ASSETS, NET	19,238	20,257	20,244
Total assets	102,844	113,049	119,824
CURRENT LIABILITIES:
Credit from banks and others	2,112	2,160	2,101
Current maturities of lease liabilities	2,137	2,435	2,398
Deferred revenues	382	304	218
Income taxes payable	98	119	144
Trade payables	3,501	3,884	3,668
Other payables	7,007	8,536	7,353
Total current liabilities	15,237	17,438	15,882
NON-CURRENT LIABILITIES:
Loans from banks	9,030	10,460	11,320
Deferred taxes	2,086	2,313	2,417
Lease liabilities	4,632	4,804	8,847
Employee benefit liabilities	1,591	1,573	1,488
Put option to non-controlling interests, net	0	0	241
Total non-current liabilities	17,339	19,150	24,313
Total liabilities	32,576	36,588	40,195
Attributable to equity holders of the Company:
Issued capital	48	48	48
Additional paid-in capital	156,637	156,334	155,874
Treasury shares	(2)	(2)	(2)
Foreign currency translation reserve	(7,803)	(5,294)	(6,693)
Capital reserve for options	1,514	1,514	1,514
Capital reserve for remeasurement gains on defined benefit plans	1,058	1,058	1,000
Accumulated deficit	(84,131)	(80,130)	(75,291)
Total	67,321	73,528	76,450
Non-controlling interests	2,947	2,933	3,179
Total equity	70,268	76,461	79,629
Total liabilities and equity	$ 102,844	$ 113,049	$ 119,824

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Profit or loss [abstract]
Revenues	$ 27,869	$ 29,005	$ 57,075
Cost of revenues	14,774	16,228	31,814
Gross profit	13,095	12,777	25,261
Research and development costs	2,597	2,389	5,260
Selling and marketing expenses	5,578	5,620	10,581
General and administrative expenses	8,427	8,689	16,228
Other expenses	415	529	2,198
Operating loss	(3,922)	(4,450)	(9,006)
Financial income	1,316	4,462	4,833
Financial expenses	(819)	(1,426)	(1,791)
Loss before taxes on income	(3,425)	(1,414)	(5,964)
Taxes on income	465	706	891
Net loss	(3,890)	(2,120)	(6,855)
Other comprehensive income:
Re-measurement gain on defined benefit plans	0	0	52
Other comprehensive loss to be reclassified to profit or loss in subsequent periods:
Foreign currency translation reserve	(2,614)	(3,571)	(2,119)
Total other comprehensive loss	(2,614)	(3,571)	(2,067)
Total comprehensive loss	(6,504)	(5,691)	(8,922)
Net income (loss) attributable to:
Equity holders of the Company	(4,001)	(2,217)	(7,056)
Non-controlling interests	111	97	201
Net profit (loss)	(3,890)	(2,120)	(6,855)
Total comprehensive income (loss) attributable to:
Equity holders of the Company	(6,510)	(5,619)	(9,001)
Non-controlling interests	6	(72)	79
Total comprehensive loss	$ (6,504)	$ (5,691)	$ (8,922)
Earnings per share attributable to equity holders of the Company:
Basic loss	$ (0.24)	$ (0.14)	$ (0.43)
Diluted loss	$ (0.24)	$ (0.25)	$ (0.54)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Issued capital		Additional paid-in capital		Treasury shares	Foreign currency translation reserve	Capital reserve for options	Capital reserve for remeasurement gains on defined benefit plans	Accumulated deficit	Non- controlling interests	Total
Balance as of beginning at Dec. 31, 2022	$ 55,687	$ 43		$ 130,009		$ (2)	$ (3,291)	$ 1,002	$ 1,000	$ (73,074)	$ 3,602	$ 59,289
Exercise of share options	25,631	5		25,114		0	0	512	0	0	0	25,631
Share-based payments	691	0		691		0	0	0	0	0	85	776
Equity component of transaction with non-controlling interest	60	0		60		0	0	0	0	0	(60)	0
Net profit (loss)	(2,217)	0		0		0	0	0		(2,217)	97	(2,120)
Total other comprehensive loss	(3,402)	0		0		0	(3,402)	0	0	0	(169)	(3,571)
Dividend paid to non-controlling interests	0	0		0		0	0	0	0	0	(376)	(376)
Balance as of ending at Jun. 30, 2023	76,450	48		155,874		(2)	(6,693)	1,514	1,000	(75,291)	3,179	79,629
Balance as of beginning at Dec. 31, 2022	55,687	43		130,009		(2)	(3,291)	1,002	1,000	(73,074)	3,602	59,289
Exercise of share options	25,631	5		25,114		0	0	512	0	0	0	25,631
Exercise of Employee options	0		[1]		[1]	0	0	0	0	0	0	0
Share-based payments	1,116	0		1,116		0	0	0	0	0	136	1,252
Equity component of transaction with non-controlling interest	95	0		95		0	0	0	0	0	(95)	0
Net profit (loss)	(7,056)	0		0		0	0	0		(7,056)	201	(6,855)
Total other comprehensive loss	(1,945)	0		0		0	(2,003)	0	58	0	(122)	(2,067)
Dividend paid to non-controlling interests	0	0		0		0	0	0	0	0	(789)	(789)
Balance as of ending at Dec. 31, 2023	73,528	48		156,334		(2)	(5,294)	1,514	1,058	(80,130)	2,933	76,461
Share-based payments	284	0		284		0	0	0	0	0	27	311
Equity component of transaction with non-controlling interest	19	0		19		0	0	0	0	0	(19)	0
Net profit (loss)	(4,001)	0		0		0	0	0		(4,001)	111	(3,890)
Total other comprehensive loss	(2,509)	0		0		0	(2,509)	0	0	0	(105)	(2,614)
Balance as of ending at Jun. 30, 2024	$ 67,321	$ 48		$ 156,637		$ (2)	$ (7,803)	$ 1,514	$ 1,058	$ (84,131)	$ 2,947	$ 70,268
[1]Represents less than $1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (3,890)	$ (2,120)	$ (6,855)
Income and expenses not involving operating cash flows:
Depreciation and amortization	3,715	3,512	7,692
Capital loss from disposals of property and equipment	51	16	278
Capital gain from amendment of lease liabilities	0	0	(399)
Change in employee benefit liabilities, net	74	69	180
Financial expenses (income), net	14	(2,432)	(2,446)
Valuation gains of short-term investments	(557)	(723)	(848)
Cost of share-based payments	311	776	1,252
Tax expenses	465	706	891
Income and expenses not involving operating cash flows	4,073	1,924	6,600
Changes in operating assets and liabilities:
Decrease (increase) in trade receivables, net	458	(1,413)	(975)
Decrease (increase) in inventory	359	(411)	(156)
Decrease (increase) in prepaid expenses	169	(35)	44
Decrease (increase) in other accounts receivable	(356)	(368)	62
Increase (decrease) in trade payables	(251)	98	235
Increase (decrease) in deferred revenues	90	(30)	51
Increase (decrease) in other accounts payable	(916)	(460)	965
Changes in operating assets and liabilities	(447)	(2,619)	226
Cash paid and received:
Interest received	900	566	621
Interest paid	(575)	(709)	(1,296)
Income tax received	0	9	8
Income taxes paid	(407)	(344)	(800)
Cash paid and received	(82)	(478)	(1,467)
Net cash used in operating activities	(346)	(3,293)	(1,496)
Cash flows from investing activities:
Purchase of property and equipment	(867)	(578)	(1,289)
Investment in intangible assets	(1,629)	(2,196)	(4,203)
Investment in short-term deposits	0	(9,783)	(9,840)
Proceeds from short-term deposits	10,032	5,900	5,855
Purchase of short-term investments	(1,578)	(963)	(2,291)
Proceeds from sale of short-term investments	1,344	1,022	2,422
Net cash provided by (used in) investing activities	7,302	(6,598)	(9,346)
Cash flows from financing activities:
Dividend paid to non-controlling interests	0	(376)	(789)
Payment of lease liabilities	(1,369)	(1,237)	(2,648)
Exercise of share options	0	20,298	20,298
Payment of long-term loans	(1,054)	(1,055)	(2,070)
Payment of liability to underwriter	0	(1,124)	(1,124)
Other	0	12	0
Net cash provided by (used in) financing activities	(2,423)	16,518	13,667
Effect of exchange rate changes on cash and cash equivalents	(336)	(675)	(615)
Increase in cash and cash equivalents	4,197	5,952	2,210
Cash and cash equivalents at the beginning of the period	6,693	4,483	4,483
Cash and cash equivalents at the end of the period	10,890	10,435	6,693
Non-cash transactions:
Right-of-use asset recognized with corresponding lease liability	1,147	1,065	(1,265)
Liability derecognized and recorded in equity upon exercise of share options	$ 0	$ 5,333	$ 5,333

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2024
Disclosure Of General Information About Financial Statements Abstract
GENERAL	NOTE 1:- GENERAL a. These consolidated financial statements have been prepared in a condensed format as of June 30, 2024 and for the six months then ended. These condensed consolidated financial statements should be read in conjunction with the annual consolidated financial statements and accompanying notes of SHL Telemedicine Ltd. ("the Company") as of December 31, 2023 and for the year then ended ("the annual financial statements"). b. The effects of the Swords of Iron War: In continuation of the description in Note 1 to the annual consolidated financial statements regarding the effects of the Swords of Iron War ("the war"), the Company believes that the effects of the war on the Company's business activities in the reporting period are not material. c. Following are data regarding the Israeli CPI and the exchange rates of the Euro, U.S. dollar and the Swiss Franc in relation to the new Israeli Shekel (NIS): Israeli Exchange rate CPI € 1 U.S. $ 1 CHF 1 For the period ended Points N I S June 30, 2024 253.8 4.02 3.76 4.18 June 30, 2023 246.7 4.02 3.7 4.11 December 31, 2023 248.6 4.01 3.63 4.31 Change during the period % % % % June 2024 (6 months) 2.1 0.2 3.6 (3.1 ) June 2023 (6 months) 2.2 7.2 5.1 7.6 December 31, 2023 3 6.9 3.1 12.8 *) The index on an average basis of 1993 = 100.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Disclosure Of Summary Of Significant Accounting Policies Abstract
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES a. Basis of preparation of the interim condensed consolidated financial statements: The interim condensed consolidated financial statements for the six months ended June 30, 2024 have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, "Interim Financial Reporting. The significant accounting policies and methods of computation adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the annual financial statements except as described in b. below. b. Initial adoption of amendments to International Financial Reporting Standards: Amendment to IAS 1, "Presentation of Financial Statements": In January 2020, the IASB issued an amendment to IAS 1, "Presentation of Financial Statements" regarding the criteria for determining the classification of liabilities as current or non-current ("the Original Amendment"). In October 2022, the IASB issued a subsequent amendment ("the Subsequent Amendment"). According to the Subsequent Amendment: • Only financial covenants with which an entity must comply on or before the reporting date will affect a liability's classification as current or non-current. • In respect of a liability for which compliance with financial covenants is to be evaluated within twelve months from the reporting date, disclosure is required to enable users of the financial statements to assess the risks related to that liability. The Subsequent Amendment requires disclosure of the carrying amount of the liability, information about the financial covenants, and the facts and circumstances at the end of the reporting period that could result in the conclusion that the entity may have difficulty in complying with the financial covenants. According to the Original Amendment, the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion component is an equity instrument. The Original Amendment and Subsequent Amendment are applied retrospectively for annual periods beginning on January 1, 2024. The Amendments did not have a material impact on the Company's interim consolidated financial statements. c. Disclosure of new Standards in the period prior to adoption: IFRS 18, "Presentation and Disclosure in Financial Statements": In April 2024, the International Accounting Standards Board ("the IASB") issued IFRS 18, "Presentation and Disclosure in Financial Statements" ("IFRS 18") which replaces IAS 1, "Presentation of Financial Statements". IFRS 18 is aimed at improving comparability and transparency of communication in financial statements. IFRS 18 retains certain existing requirements of IAS 1 and introduces new requirements on presentation within the statement of profit or loss, including specified totals and subtotals. It also requires disclosure of management-defined performance measures and includes new requirements for aggregation and disaggregation of financial information. IFRS 18 does not modify the recognition and measurement provisions of items in the financial statements. However, since items within the statement of profit or loss must be classified into one of five categories (operating, investing, financing, taxes on income and discontinued operations), it may change the entity's operating profit. Moreover, the publication of IFRS 18 resulted in consequential narrow scope amendments to other accounting standards, including IAS 7, "Statement of Cash Flows", and IAS 34, "Interim Financial Reporting". IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, and is to be applied retrospectively. Early adoption is permitted but will need to be disclosed. The Company is evaluating the effects of IFRS 18, including the effects of the consequential amendments to other accounting standards, on its consolidated financial statements

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2024
Revenue [Abstract]
REVENUES	NOTE 3:- REVENUES Six months ended June 30, Year ended December 31, 2024 2023 2023 Unaudited Audited Revenues from services performed during the period 27,375 28,195 55,678 Revenues from sale of devices 494 810 1,397 27,869 29,005 57,075

MATERIAL EVENTS DURING THE REPO

MATERIAL EVENTS DURING THE REPORTING PERIOD	6 Months Ended
	Jun. 30, 2024
MATERIAL EVENTS DURING THE REPORTING PERIOD
MATERIAL EVENTS DURING THE REPORTING PERIOD	NOTE 4:- MATERIAL EVENTS DURING THE REPORTING PERIOD a. In March, 2024 the Company announced that Erez Nachtomy, the Company's CEO, will be stepping down as CEO in mid-June 2024. In June, 2024 the Company announced that Mr. Nachtomy has agreed to remain as the CEO until the end of August 2024. See also Note 6a regarding the appointment of a new CEO. b. During the period, the Company's Board of Directors approved the grant of 20,000 options to a consultant, under the 2021 Executive and Key Employee Israeli Share Incentive Plan. The options shall vest over a period of 3 years (25% after 1 year, and 9.375% each quarter thereafter). The fair value of options granted is CHF 1.403 ($ 1.571). The fair value was estimated based on the binomial model using the following data and assumptions: share price - CHF 4.89; exercise price – CHF 8.50; expected volatility – 53.06%; risk free interest rate – 0.65%; expected dividend – 0%; and expected average life of options 4.6 years. c. According to the terms of the Put and Call Options granted in the acquisition of the Mediton Group in 2021, the Put Option may be exercised for a period of one year commencing from September 2024. The fair value of the Put and Call options based on economic assumptions as to exercise date is insignificant as of June 30, 2024. See also Note 6e regarding the notice of exercising of the PUT option by non-controlling interests.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2024
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 5:- SEGMENT INFORMATION As presented in the annual financial statements, the Group operates in three geographic segments: Israel, Europe (principally Germany) and Rest of the world ("Row"). Management monitors the operating results of its geographical units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on segment profit. SG&A Group expenses and some research and development expenses are mostly allocated to the separate geographic units. Some corporate expenses, some research and development expenses, finance costs and finance income and income taxes are managed on a group basis and are not allocated to the geographic segments. Revenues are allocated based on the location of the end customer. The Group presents disaggregated revenue information based on types of customers: Individual customers and communities, Institutions and payers (income from service agreements with institutions, insurance companies and HMOs), and others. a. Segment revenues: Individuals and communities Institutions and payers Others Total Six months ended June 30, 2024 (unaudited): Europe - 6,557 - 6,557 Israel 10,195 10,745 - 20,940 Row - - 372 372 Total 10,195 17,302 372 27,869 Six months ended June 30, 2023 (unaudited): Europe - 6,831 - 6,831 Israel 10,909 10,716 - 21,625 Row - - 549 549 Total 10,909 17,547 549 29,005 Individuals and communities Institutions and payers Others Total Year ended December 31, 2023 (audited): Europe - 14,067 - 14,067 Israel 20,913 21,179 - 42,092 Row - - 916 916 Total 20,913 35,246 916 57,075 b. Segment profit (loss): Six months ended June 30, Year ended December 31, 2024 2023 2023 Unaudited Audited Europe (1,699 ) (2,672 ) (5,347 ) Israel 3,912 3,976 8,424 Row (2,195 ) (1,488 ) (3,622 ) 18 (184 ) (545 ) Unallocated income and expenses: Corporate and R&D expenses (3,525 ) (3,737 ) (6,263 ) Other expenses (415 ) (529 ) (2,198 ) Operating loss (3,922 ) (4,450 ) (9,006 ) Financial income, net 497 3,036 3,042 Loss before taxes on income (3,425 ) (1,414 ) (5,964 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	NOTE 6:- SUBSEQUENT EVENTS a. In July, 2024 the Company announced that it has appointed Mr. David Arnon as CEO of the Company. b. In August, 2024 the Company announced that Mr. Yariv Alroy, Chairman of the Company, has informed the Company that he will be stepping down as Chairman and is resigning from the Board of Directors effective immediately. c. In September, 2024 the Company announced that it has appointed Dr. Itamar Ofer as the new Chairman of the Company. d. In September, 2024, following the approval of the Company's Board of Directors, the Company's Special General Meeting of the shareholders approved the grant of 400,000 options to the Company's CEO, under the 2021 Executive and Key Employee Israeli Share Incentive Plan. The options shall vest over a period of 4 years in equal annual installments (100,000 options for each installment). The exercise price for options to purchase up to 200,000 Ordinary Shares is CHF 7.12 ($ 8) per share, and for the remaining options to purchase 200,000 Ordinary Shares is CHF 5.34 ($ 6) per share. e. In September, 2024, the main non-controlling interest ("the Sellers") provided notice to the Company that they were exercising their right (the "Put Option Right") to require the Company to purchase all of the Sellers’ remaining holdings in Mediton Group according to the Share Purchase Agreement of Mediton in 2021.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Disclosure Of Summary Of Significant Accounting Policies Abstract
Basis of preparation of the interim condensed consolidated financial statements	a. Basis of preparation of the interim condensed consolidated financial statements: The interim condensed consolidated financial statements for the six months ended June 30, 2024 have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, "Interim Financial Reporting. The significant accounting policies and methods of computation adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the annual financial statements except as described in b. below.
Initial adoption of amendments to International Financial Reporting Standards	b. Initial adoption of amendments to International Financial Reporting Standards: Amendment to IAS 1, "Presentation of Financial Statements": In January 2020, the IASB issued an amendment to IAS 1, "Presentation of Financial Statements" regarding the criteria for determining the classification of liabilities as current or non-current ("the Original Amendment"). In October 2022, the IASB issued a subsequent amendment ("the Subsequent Amendment"). According to the Subsequent Amendment: • Only financial covenants with which an entity must comply on or before the reporting date will affect a liability's classification as current or non-current. • In respect of a liability for which compliance with financial covenants is to be evaluated within twelve months from the reporting date, disclosure is required to enable users of the financial statements to assess the risks related to that liability. The Subsequent Amendment requires disclosure of the carrying amount of the liability, information about the financial covenants, and the facts and circumstances at the end of the reporting period that could result in the conclusion that the entity may have difficulty in complying with the financial covenants. According to the Original Amendment, the conversion option of a liability affects the classification of the entire liability as current or non-current unless the conversion component is an equity instrument. The Original Amendment and Subsequent Amendment are applied retrospectively for annual periods beginning on January 1, 2024. The Amendments did not have a material impact on the Company's interim consolidated financial statements.
Disclosure of new Standards in the period prior to adoption	c. Disclosure of new Standards in the period prior to adoption: IFRS 18, "Presentation and Disclosure in Financial Statements": In April 2024, the International Accounting Standards Board ("the IASB") issued IFRS 18, "Presentation and Disclosure in Financial Statements" ("IFRS 18") which replaces IAS 1, "Presentation of Financial Statements". IFRS 18 is aimed at improving comparability and transparency of communication in financial statements. IFRS 18 retains certain existing requirements of IAS 1 and introduces new requirements on presentation within the statement of profit or loss, including specified totals and subtotals. It also requires disclosure of management-defined performance measures and includes new requirements for aggregation and disaggregation of financial information. IFRS 18 does not modify the recognition and measurement provisions of items in the financial statements. However, since items within the statement of profit or loss must be classified into one of five categories (operating, investing, financing, taxes on income and discontinued operations), it may change the entity's operating profit. Moreover, the publication of IFRS 18 resulted in consequential narrow scope amendments to other accounting standards, including IAS 7, "Statement of Cash Flows", and IAS 34, "Interim Financial Reporting". IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, and is to be applied retrospectively. Early adoption is permitted but will need to be disclosed. The Company is evaluating the effects of IFRS 18, including the effects of the consequential amendments to other accounting standards, on its consolidated financial statements

GENERAL (Tables)

GENERAL (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure Of General Information About Financial Statements Abstract
Schedule of data regarding foreign exchange rates and linkage basis	Israeli Exchange rate CPI € 1 U.S. $ 1 CHF 1 For the period ended Points N I S June 30, 2024 253.8 4.02 3.76 4.18 June 30, 2023 246.7 4.02 3.7 4.11 December 31, 2023 248.6 4.01 3.63 4.31 Change during the period % % % % June 2024 (6 months) 2.1 0.2 3.6 (3.1 ) June 2023 (6 months) 2.2 7.2 5.1 7.6 December 31, 2023 3 6.9 3.1 12.8 *) The index on an average basis of 1993 = 100.

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Schedule of disaggregation of revenue from contracts with customers	Six months ended June 30, Year ended December 31, 2024 2023 2023 Unaudited Audited Revenues from services performed during the period 27,375 28,195 55,678 Revenues from sale of devices 494 810 1,397 27,869 29,005 57,075

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2024
SEGMENT INFORMATION
Schedule of disaggregated revenue information	Individuals and communities Institutions and payers Others Total Six months ended June 30, 2024 (unaudited): Europe - 6,557 - 6,557 Israel 10,195 10,745 - 20,940 Row - - 372 372 Total 10,195 17,302 372 27,869 Six months ended June 30, 2023 (unaudited): Europe - 6,831 - 6,831 Israel 10,909 10,716 - 21,625 Row - - 549 549 Total 10,909 17,547 549 29,005 Individuals and communities Institutions and payers Others Total Year ended December 31, 2023 (audited): Europe - 14,067 - 14,067 Israel 20,913 21,179 - 42,092 Row - - 916 916 Total 20,913 35,246 916 57,075
Schedule of revenue from geographic segments	Six months ended June 30, Year ended December 31, 2024 2023 2023 Unaudited Audited Europe (1,699 ) (2,672 ) (5,347 ) Israel 3,912 3,976 8,424 Row (2,195 ) (1,488 ) (3,622 ) 18 (184 ) (545 ) Unallocated income and expenses: Corporate and R&D expenses (3,525 ) (3,737 ) (6,263 ) Other expenses (415 ) (529 ) (2,198 ) Operating loss (3,922 ) (4,450 ) (9,006 ) Financial income, net 497 3,036 3,042 Loss before taxes on income (3,425 ) (1,414 ) (5,964 )

GENERAL (Details)

GENERAL (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
ILS
Currency [Line Items]
Consumer Price Index Points	253.8	246.7	248.6
Exchange Rate, Percentage of Change	2.10%	2.20%	3%
EUR
Currency [Line Items]
Closing foreign exchange rate	4.02	4.02	4.01
Exchange Rate, Percentage of Change	0.20%	7.20%	6.90%
USD
Currency [Line Items]
Closing foreign exchange rate	3.76	3.7	3.63
Exchange Rate, Percentage of Change	3.60%	5.10%	3.10%
CHF
Currency [Line Items]
Closing foreign exchange rate	4.18	4.11	4.31
Exchange Rate, Percentage of Change	3.10%	7.60%	12.80%

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 27,869	$ 29,005	$ 57,075
Revenues For Services [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	27,375	28,195	55,678
Revenues For Sale Of Devices [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 494	$ 810	$ 1,397

MATERIAL EVENTS DURING THE RE_2

MATERIAL EVENTS DURING THE REPORTING PERIOD (Narrative) (Details) - 6 months ended Jun. 30, 2024 - Executive and Key Employee Israeli Share Incentive Plan 2021	Share Years SFr / shares	Share Years $ / shares
Disclosure Of Material Events During Reporting Period Explanatory [Line Items]
Number of options granted | Share	20,000	20,000
Vesting period	3 years	3 years
Percentage of vesting after one year	25%	25%
Percentage of vesting in each quarter thereafter	9.375%	9.375%
Weighted average fair value of options granted | (per share)	SFr 1.403	$ 1.571
Share price	4.89
Exercise price	SFr 8.5
Expected volatility	53.06%	53.06%
Risk free interest rate	0.65%	0.65%
Expected dividend	0%	0%
Expected average life of options | Years	4.6	4.6

SEGMENT INFORMATION - Disclosur

SEGMENT INFORMATION - Disclosure of disaggregated revenue information (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
SEGMENT INFORMATION
Revenues	$ 27,869	$ 29,005	$ 57,075
Individuals and communities
SEGMENT INFORMATION
Revenues	10,195	10,909	20,913
Institutions and payers
SEGMENT INFORMATION
Revenues	17,302	17,547	35,246
Others
SEGMENT INFORMATION
Revenues	372	549	916
Europe
SEGMENT INFORMATION
Revenues	6,557	6,831	14,067
Europe | Individuals and communities
SEGMENT INFORMATION
Revenues	0	0	0
Europe | Institutions and payers
SEGMENT INFORMATION
Revenues	6,557	6,831	14,067
Europe | Others
SEGMENT INFORMATION
Revenues	0	0	0
Israel
SEGMENT INFORMATION
Revenues	20,940	21,625	42,092
Israel | Individuals and communities
SEGMENT INFORMATION
Revenues	10,195	10,909	20,913
Israel | Institutions and payers
SEGMENT INFORMATION
Revenues	10,745	10,716	21,179
Israel | Others
SEGMENT INFORMATION
Revenues	0	0	0
ROW
SEGMENT INFORMATION
Revenues	372	549	916
ROW | Individuals and communities
SEGMENT INFORMATION
Revenues	0	0	0
ROW | Institutions and payers
SEGMENT INFORMATION
Revenues	0	0	0
ROW | Others
SEGMENT INFORMATION
Revenues	$ 372	$ 549	$ 916

SEGMENT INFORMATION - Disclos_2

SEGMENT INFORMATION - Disclosure of revenue from geographic segments (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
SEGMENT INFORMATION
Segment profit (loss)	$ 27,869	$ 29,005	$ 57,075
Other expenses	(415)	(529)	(2,198)
Operating loss	(3,922)	(4,450)	(9,006)
Financial income, net	497	3,036	(3,042)
Profit (loss) before taxes on income	(3,425)	(1,414)	(5,964)
Operating segments
SEGMENT INFORMATION
Segment profit (loss)	18	(184)	(545)
Unallocated income and expenses
SEGMENT INFORMATION
Corporate, R&D and other expenses	(3,525)	(3,737)	(6,263)
Other expenses	(415)	(529)	(2,198)
Europe
SEGMENT INFORMATION
Segment profit (loss)	6,557	6,831	14,067
Europe | Operating segments
SEGMENT INFORMATION
Segment profit (loss)	(1,699)	(2,672)	(5,347)
Israel
SEGMENT INFORMATION
Segment profit (loss)	20,940	21,625	42,092
Israel | Operating segments
SEGMENT INFORMATION
Segment profit (loss)	3,912	3,976	8,424
ROW
SEGMENT INFORMATION
Segment profit (loss)	372	549	916
ROW | Operating segments
SEGMENT INFORMATION
Segment profit (loss)	$ (2,195)	$ (1,488)	$ (3,622)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - 1 months ended Sep. 30, 2024 - Two Zero Two One Executive And Key Employee Israeli Share Incentive Plan - CEO	Share SFr / shares shares	Share $ / shares shares
Disclosure of non-adjusting events after reporting period [line items]
Number of options granted | Share	400,000	400,000
Vesting period	4 years	4 years
Options to shares of each instalment	100,000	100,000
Exercise Price For Options Purchase One
Disclosure of non-adjusting events after reporting period [line items]
Number of Share Options to purchase Ordinary shares granted	200,000	200,000
Exercise price | (per share)	SFr 7.12	$ 8
Exercise Price For Options Purchase Two
Disclosure of non-adjusting events after reporting period [line items]
Number of Share Options to purchase Ordinary shares granted	200,000	200,000
Exercise price | (per share)	SFr 5.34	$ 6