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New Products/NiteWatch Accreditation
Neuhausen am Rheinfall / Switzerland, November 23, 2009 - LifeWatch AG (SIX Swiss Exchange: LIFE), the leading provider of wireless cardiac and other medical monitoring services in the U.S., announced today that its "NiteWatch" home sleep testing service has been accredited with the Joint Commission for "Ambulatory Health Care Programs", and is one of only a few independent diagnostic testing facilities (IDTFs) which have received this Gold Seal of Approval.
"Joint Commission certification endorses LifeWatch as an organization committed to clinical excellence and quality" stated Marikay Menard, Vice President of Clinical Strategy and Regulatory Affairs of LifeWatch Services, Inc. "The expansion of this certification to our NiteWatch Home Sleep Testing service confirms this commitment to quality as we expand our medical service offering to home sleep testing in the first quarter of 2010.
The Joint Commission on Accreditation of Healthcare Organizations evaluates and accredits nearly 17,000 health care organizations and programs in the United States. As an independent, not-for-profit organization, the Joint Commission is the nation´s predominant standards-setting and accrediting body in health care.
"This additional accreditation further demonstrates LifeWatch´s commitment to provide patients with the highest quality clinical services in the industry," stated Dr. Yacov Geva, Chairman and Chief Executive Officer of LifeWatch AG.
NiteWatch provides Home Sleep Testing for diagnosing Obstructive Sleep Apnea (OSA), a widely undiagnosed medical condition that is highly correlated with other chronic diseases. Thirty eight million Americans are affected by OSA, of which fifteen million are undiagnosed. The U.S. market for OSA is currently estimated at USD 1.5 billion, out of which an estimated one million tests are conducted annually. This market is projected to grow between 20-50% in the next five years, with home sleep testing capturing approximately 20% of the total market. LifeWatch, as the first Cardiac IDTF to enter into home sleep testing services, will leverage its medical monitoring expertise into a competitive advantage, and diversify LifeWatch´s service offering. LifeWatch is fully on track with its planned roll out of the NiteWatch service and has expanded its beta launch to 12 clients and is now approaching 50 patients. The Company has already signed 166 commercial managed care contracts covering 90 million lives for its new NiteWatch service and will continue to broaden coverage with additional contracts.
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 treat high-risk and chronically ill patients, health conscious consumers and wellness programs. 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 Sleet Testing of Obstructive Sleep Apnea (OSA) patients under the brand name NiteWatch. For additional information, please visit www.lifewatch.com and www.nitewatchservices.com
Sign-up for customized e-mail 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.
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ots Originaltext: LifeWatch AG
Im Internet recherchierbar: http://www.presseportal.ch
Further inquiry note:
Kobi Ben Efraim, Chief Financial Officer, LifeWatch AG:
Tel +41 52 632 00 50 | Fax +41 52 632 00 51 | E-mail email@example.com
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Branche: Healthcare Providers
Index: SPI, SPIEX
Börsen: Frankfurt / Open Market / XETRA
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