Ann: Acquisition of Telerhythmics LLC, page-6

G MEDICAL PURCHASES TELERHYTHMICS LLC,MEDICAL DIAGNOSTIC MONITORING SERVICE PROVIDER• Expands infrastructure to increase nationwide footprint and services for remote vital signsmonitoring healthcare services in the USA• Provides additional capacity, access to technologies and payer networkMobile and e-Health company G Medical Innovations Holdings Ltd (G Medical or the Company) (ASX: GMV)is pleased to announce that its wholly owned Delaware incorporated subsidiary, G Medical Innovations USAInc, has executed an agreement to acquire 100% of the outstanding membership interest of Telerhythmics LLC(Telerhythmics) (a Tennessee limited liability company), a US based cardiac diagnostic monitoring servicesprovider.Telerhythmics, based outside Memphis, Tennessee, is a 24-hour cardiac diagnostic monitoring service used byhospitals and physician offices, and provides its monitoring services throughout the eastern region of the U.S.G Medical will acquire all the outstanding membership interests of Telerhythmics from NASDAQ listed imagingtechnologies company Digirad Corp (NASDAQ: DRAD) for a total up front consideration of US$1,950,000,subject to working capital adjustments. Completion of the agreement remains subject to the satisfaction ofcertain customary conditions precedent, including the receipt of any necessary consents from third partiesincluding but not limited to government authorities.Telerhythmics, LLC., booked historical revenue from 1 January 2018 to 30 September 2018 of ~US$3.174M1.The Telerhythmics acquisition, in addition to the Company’s acquisition of Cardiostaff Diagnostic Services Inc(as announced on 30 October 2017) will create a sizable player in the cardiac diagnostic US monitoring space,and in addition, provide G Medical with a solid base of business across the Southeast and Southwestterritories.

Telerhythmics is a Medicare and Medicaid designated IDTF (Independent Diagnostic Testing Facility) thatprovides physician practices and hospitals with arrhythmia monitoring services including mobile cardiactelemetry ("MCT"), cardiac event monitoring, Holter monitoring, and pacemaker analysis.The Telerhythmics acquisition will substantially increase insurance coverage and create a distinct competitiveadvantage, providing G Medical with ~100 commercial payor agreements across local, regional and nationalmarkets and an additional 30-35M covered lives (individuals insured); with the Company’s aggregated sumincreasing to ~100M+ covered lives when considering existing G Medical Diagnostic Services payoragreements.Via the acquisition, G Medical will also gain access to several large health systems including Baptist, Ochsner,and HCA, and also to existing agreements in place with large insurance providers such as Blue Cross Blue Shield(BCBS), which has current reimbursement status for MCT (auto detect auto send) monitoring device. Further,

the Company’s regulatory approved medical devices will be translated to existing customers of bothTelerhythmics and G Medical, providing for a superior technology offering and monitoring services whencompared to traditional Holter monitoring.Telerhythmics, LLC., was established in 1996. It has long been recognized for superior clinical patientmonitoring given its foundation of employing experienced critical care nurses. Telerhythmics’ business issynergistic and complementary to G Medical’s existing infrastructure and operations following the Company’ssuccessful acquisition and integration of CardioStaff, and further increases the Company’s nationwidefootprint and services for remote vital signs monitoring healthcare services across the US.Commenting on the latest acquisition, G Medical CEO Dr. Yacov Geva, said: “Acquiring Telerhythmics furtherstrengthens our Company’s US footprint as we further focus our efforts to become a leader in complete (endto-end)and comprehensive vital signs medical monitoring and cardiac diagnostic services across the US.Telerhythmics brings additional payer contracts, clinical and commercial scalability, access to currentmonitoring technologies and an existing platform to launch our proprietary medical devices with the aim tofurther grow our market share in this important area of digital health delivery.”Cardiac diagnostic monitoring and remote vital signs monitoring healthcare services is a rapidly growingindustry in the US and the Company is well positioned to become an emerging leader in the E-Health andVital Signs Monitoring space. The Company continues its preparations towards the submission of its F-1Registration Statement towards a Dual-Listing on the NASDAQ Stock Exchange, where a number of theCompany’s peers are currently listed.