LIFEWATCH AG November 10, 2015 Baarerstrasse 139
CH - 6300 Zug / Switzerland www.lifewatch.com
Zug/Switzerland, November 10, 2015 - LifeWatch® AG (SIX Swiss Exchange: LIFE), a leading devel- oper and provider of medical solutions and remote diagnostic monitoring services in the digital health market, is pleased to announce the acquisition of FlexLife Health Inc., a company offering remote pa- tient monitoring services in the area of coagulation measurement, by its subsidiary, LifeWatch Services Inc.
FlexLife was founded in 2012 by the Cleveland Clinic Foundation and ZIN Technologies, Inc. (a NASA partner for health in space) to offer home monitoring solutions for INR (blood clotting) measurement. FlexLife offers INR monitoring services via a proprietary web-based digital health platform that is supe- rior to all other current service offerings in the market. Monitoring of the INR is essential for patients taking drugs like Warfarin (an oral anticoagulant), which pose a risk of bleeding or clotting if dosing is not properly monitored.
LifeWatch's electrophysiologist and cardiologist relationship base have already expressed a deep inter- est in remote monitoring of INR for their patients, since the main cause of a clinical arrhythmia, detect- ed by LifeWatch's existing cardiac devices, is atrial fibrillation for which Warfarin is a common treatment option. Dr. Stephan Rietiker, CEO of LifeWatch, stated: 'I am excited about this acquisition, particularly since Warfarin and similar generic anti-coagulants are the most commonly prescribed ant-coagulant medications in the U.S. The FlexLife product complements well our existing cardiac monitoring busi- ness and will allow us to provide doctors and their patients needing INR therapy due to atrial arrhythmi- as with a unique and easy-to-use product that will improve patient quality of life.'
LifeWatch will integrate this business into its existing operations to benefit from synergy effects (reim- bursement, distribution, etc.) and profitably grow the business over the next few years. LifeWatch ex- pects to commence activities already in December this year with a full launch in the U.S. at the begin- ning of 2016. The parties have agreed to keep the terms of the transaction confidential.
LifeWatch AG
c/o Dynamics Group, Philippe Blangey / Doris Rudischhauser Phone: +41 43 268 32 35 / +41 79 410 81 88
E-mail: investor-relations@lifewatch.com
About LifeWatch AG:LifeWatch AG, headquartered in Zug and listed on SIX Swiss Exchange (LIFE), Switzerland, is a leading healthcare technology and solution company, specializing in advanced digital health systems and wireless remote diagnostic patient monitoring services. LifeWatch's services provide physicians with critical information to determine appropriate treatment and thereby improve patient out- comes. LifeWatch AG has operative subsidiaries in the United States, in Switzerland and in Israel, and is the parent company of LifeWatch Services Inc., and LifeWatch Technologies, Ltd. LifeWatch Services, Inc. is a leading U.S.-based provider of cardiac monitoring services and home sleep testing of Obstructive Sleep Apnea (OSA). LifeWatch Technologies Ltd., based in Israel, is a leading developer and manufacturer of tel- emedicine products. For additional information, please visit www.lifewatch.com.
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding future results of operations and financial position, the business strategy, and plans and objectives for future operations, are forward-looking state- ments. The words 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect' and similar expressions are intended to identify forward-looking statements. LifeWatch AG has based these forward- looking statements largely on current expectations and projections about future events and financial trends that it believes may affect the financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. In light of these risks, uncertainties and as- sumptions, the forward-looking events and circumstances described may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. All for- ward-looking statements are based only on data available to LifeWatch AG at the time of the issue of this press release. LifeWatch AG does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF SECURITIES OF LIFEWATCH AG OR ANY OF ITS SUBSIDIARIES FOR SALE IN THE UNITED STATES, OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OF LIFEWATCH AG OR ITS SUBSIDIARIES IN THE UNITED STATES. IN ADDITION, THE SECURITIES OF LIFEWATCH AG AND ITS SUBSIDIARIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT FROM REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS. ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM LIFEWATCH AG OR ITS SUB- SIDIARIES, AS APPLICABLE, AND WILL CONTAIN DETAILED INFORMATION ABOUT THE ISSUER AND ITS MANAGEMENT AS WELL AS FINANCIAL STATEMENTS OF THE ISSUER.
|
distributed by
|
