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Healthcare Technologies Reports 2007 Nine Months & Third Quarter Results

PETACH TIKVA, Israel, November 23 /PRNewswire-FirstCall/ -- Healthcare Technologies, Ltd. (NASDAQ: HCTL), today announced unaudited results for nine months and the third quarter ended September 30, 2007.

Revenues for the third quarter of 2007 were $4.0 million, as compared to $3.1 million for the corresponding quarter last year. The third quarter gross profit was $1.4 million, as compared to $1.0 million in the third quarter of 2006. The net profit for the quarter was $189 thousand or $0.02 per share, compared to $34 thousand, or $0 per share for the third quarter of last year.

Revenues for the first nine months of 2007 were $11.7 million, compared to $10.1 million for the first nine months of 2006. The gross profit for the first nine months was $3.8 million versus $3.6 million for the same period in 2006. The net loss for the period was $130 thousand, or $0.02 per share, versus a net profit of $557 thousand, or $0.07 per share for the same period last year.

Shareholders' equity on September 30, 2007 was $7.1 million, compared to $7.3 million on December 31, 2006. Current assets net of current liabilities at the end of the period were $1.2 million, compared to $2.6 million on December 31, 2006.

About Healthcare Technologies

Healthcare Technologies Ltd. through it subsidiaries and affiliate Gamidor Diagnostics (1984) Ltd. ,Danyel Biotech Ltd. and Savyon Diagnostics Ltd., specializes in development, manufacturing and marketing of clinical diagnostic test kits and provides services and tools to diagnostic and biotech research professionals in laboratory and point of care sites worldwide.

Healthcare Technologies, Ltd.

Condensed Consolidated Statement of Operations

(U.S. Dollars in Thousands, Except Profit (Loss) Per Share Information)

Three Months Ended Nine Months Ended Year Ended

09/30/07 09/30/06 09/30/07 09/30/06 31/12/06

Sales $4,035 $3,066 $11,789 $10,116 $13,656

Gross profit $1,397 $1,025 $3,827 $3,591 $4,775

Net profit (Loss) $189 $34 $(130) $557 $210

Profit (Loss) per

share $0.02 $0.00 $(0.02) $0.07 $0.03


average number

of Shares and

share equivalents


(in Thousands) 7,793 7,703 7,793 7,703 7,715

Consolidated Balance Sheet ,

(U.S $ in thousands)

09/30/07 09/30/06 12/31/06

Cash and cash

equivalents $238 $467 $361

Total current

assets $7,662 $7,055 $7,672

Total current

liabilities $6,442 $4,680 $5,055


equity $7,151 $7,621 $7,315

Safe Harbor: This press release contains certain forward looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Healthcare Technologies Ltd. Readers are referred to the documents filed by the company with the Securities Exchange Commission, specifically the most recent report on Form 20F that identifies important risks which could cause actual results to differ from those contained in the forward looking statements.

FOR: Healthcare Technologies Ltd



SOURCE Healthcare Technologies Ltd
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