LifeWatch AG

EQS-Adhoc: LifeWatch AG: Withdrawal from INR market


EQS Group-Ad-hoc: LifeWatch AG / Key word(s): Miscellaneous
LifeWatch AG: Withdrawal from INR market

09-Jan-2017 / 17:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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LifeWatch will withdraw from the INR market

Zug/Switzerland, January 9, 2017 - LifeWatch AG (SIX Swiss Exchange: LIFE), a
leading developer and provider of medical solutions and remote diagnostic
monitoring services in the digital health market, announces its decision to
cease offering remote patient monitoring services in the area of INR coagulation
measurement.

LifeWatch Services, Inc., the US subsidiary of LifeWatch AG, entered into a
Stock Purchase Agreement (SPA) in November 2015 for the purchase of Flexlife
Health, Inc., a company offering patients the ability to use web-based
technology to transfer INR data and receive feedback from their physician.
LifeWatch today announces its decision to withdraw from the INR market for
commercial business reasons effective February 20, 2017.

The sellers of Flexlife initiated an arbitration action against LifeWatch on
January 5, 2017, seeking USD 5.5 million in liquidated damages for an alleged
default on the terms of the SPA. LifeWatch steadfastly denies having defaulted
on the SPA and intends to vigorously defend its decision to withdraw from the
INR market. LifeWatch is also exploring all options in regard to its response to
the arbitration action, including bringing its own counterclaims against the
sellers.


For further questions:
LifeWatch AG, Andrew Moore, CFO
c/o Dynamics Group, Doris Rudischhauser
Phone +41 43 268 27 40 / Mobile +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 outcomes. 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. LifeWatch Technologies Ltd.,
based in Israel, is a manufacturer of wireless digital health products. For
additional information, please visit www.lifewatch.com

Sign up for customized e-mail alerts and documentation requests at
http://www.irlifewatch.com/websites/lifewatch_ir/English/9510/alert-service.html


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 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 MUST
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.

Additional features:


Document:http://n.eqs.com/c/fncls.ssp?u=DVUCKCANCI
Document title: LifeWatch will withdraw from the INR market
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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  LifeWatch AG

          Baarerstrasse 139

          6300 Zug

          Switzerland

Phone:    +41 41 728 67 78

Internet: www.lifewatch.com

ISIN:     CH0012815459

Valor:    811189

Listed:   Regulated Unofficial Market in Berlin, Stuttgart; Open Market in
Frankfurt ; SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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534839  09-Jan-2017 CET/CEST
 



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