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LifeWatch AG

EANS-Adhoc: LifeWatch confirms Medicare payment of USD 11.8 million (with document)

Ein Dokument

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
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Company Information/LifeWatch AG

11.10.2011

Neuhausen am Rheinfall/Switzerland - LifeWatch AG (SIX Swiss Exchange: LIFE),
the leading wireless remote cardiac and medical patient monitoring service
provider in the U.S., confirms today the payment receipt of Medicare
reimbursement payments in the amount of USD 11.8 million.

You will find a PDF-version of this press release at the end of this message.

In mid-February 2011 LifeWatch Services, Inc. opened its third call center
facility in San Francisco and applied for its Medicare IDTF provider number.
After an onsite inspection of Medicare officials at the LifeWatch call center
facility in San Francisco the Company received its provider number on August 10,
2011 and was then able to collect for services provided to Medicare patients.

In total LifeWatch provided services to Medicare patients in the amount of USD
11.8 million for the period from mid-February 2011 till August 10, 2011. In the
Letter to Shareholders for the second quarter 2011 the Company reported in
detail about this development and the Management´s certainty to collect the cash
in the near future. Shortly after the receipt of the Medicare provider number on
August 10, 2011 the Company started to bill for this amount and received the
withheld reimbursement payment from Medicare last week.

About LifeWatch AG:

LifeWatch AG, headquartered in Neuhausen am Rheinfall and listed on SIX Swiss
Exchange (LIFE), Switzerland, is the leading healthcare technology and solution
company, specializing in advanced telehealth systems and wireless remote patient
monitoring services. LifeWatch services cater to individuals, ranging from
high-risk and chronically ill patients, to consumers of health and wellness
products. LifeWatch has subsidiaries in the United States, the Netherlands,
Japan, the United Kingdom, Switzerland and Israel. LifeWatch AG is the parent
company of LifeWatch Services Inc., a leading US-based cardiac monitoring
service provider, and manufacturer of telecardiology products. LifeWatch is also
introducing a new program for Home Sleep Testing of Obstructive Sleep Apnea
(OSA) patients under the brand name NiteWatch. For additional information,
please visit www.lifewatch.com.

Sign-up for customized email alerts and documentation requests is available at
http://production.investis.com/lifewatch/alert-service/

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,
business strategy and plans and objectives for future operations, are
forward-looking statements. 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 assumptions, 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 forward-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 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 SUBSIDIARIES, AS APPLICABLE, AND WILL CONTAIN DETAILED
INFORMATION ABOUT THE ISSUER AND ITS MANAGEMENT AS WELL AS FINANCIAL STATEMENTS
OF THE ISSUER.

Attachments with Announcement:
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http://resources.euroadhoc.com/us/Nc2UWfH0

Further inquiry note:
Sensus Investor and Public Relations GmbH, Zürich:
Tel +41 43 366 55 11 | Fax +41 43 366 55 12 | Email  lifewatch@sensus.ch

end of announcement                               euro adhoc 
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/Nc2UWfH0


issuer:      LifeWatch AG
             Rundbuckstrasse 6
             CH-8212 Neuhausen am Rheinfall
phone:       +41 52 632 00 50
FAX:         +41 52 632 00 51
mail:         users@lifewatch.com
WWW:      www.lifewatch.com
sector:      Healthcare Providers
ISIN:        CH0012815459
indexes:     SPI, SPIEX
stockmarkets: Open Market / XETRA: Frankfurt, free trade: Berlin, Main Standard:
             SIX Swiss Exchange 
language:   English

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