EANS-Adhoc: LifeWatch announces two major contracts in the first quarter 2012
(with document)
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Company Information/LifeWatch AG
28.03.2012
Neuhausen am Rheinfall/Switzerland - LifeWatch AG (SIX Swiss Exchange: LIFE),
the leading wireless cardiac monitoring service provider in the U.S., announced
today the completion of two new major contracts in the first quarter 2012 for
its cardiac monitoring services and for its NiteWatch Home Sleep Testing with
Prime/NAMM and Dimension Health PPO respectively.
You will find a PDF-version of this press release at the end of this message.
The demand for LifeWatch cardiac monitoring services in California is
accelerating. Major California contracts that were concluded in 2011 were Blue
Shield of California and the Heritage Provider Network from Southern
California. This contract with PrimeCare from North American Medical
Management, California, Inc. (NAMM) is for cardiac monitoring services
including ACT. NAMM develops and manages provider networks in California,
offering a full range of services to assist physicians and other providers in
their managed care and business operations. NAMM Clients represent a network of
over 600 primary care physicians and 1,200 specialists and work with the premier
hospitals in their respective markets. In total NAMM covers 205,000 lives.
The other contract is an agreement for NiteWatch Home Sleep Testing with
Dimension Health PPO, one of South Florida´s largest Preferred Provider
Organization (PPO) Networks. Dimension Health hospitals has developed beginning
in 1985 a high quality, cost effective, community based network that insurers,
employers, unions and government sponsored health programs provide to their
employees. Today Dimension Health covers approximately 400,000 lives.
The contract with Dimension Health highlights a growing trend in the U.S.
healthcare industry. Currently, about 80 % of diagnostic testing for
Obstructive Sleep Apnea (OSA) is performed at expensive sleep labs, and the
remaining 20 % is performed at home. In early 2012, Kaiser Health News (a non-
profit news organization providing in-depth coverage of American health care
policy and politics) associated the rising costs of diagnosing OSA with the
overuse of sleep labs. As more and more insurance companies like Dimension
Health become aware of the cost benefits of Home Sleep Tests to diagnose OSA,
the market is likely to experience a major shift from Sleep Labs to the less
expensive non-attended home sleep testing with large insurers providing
economic incentives for this paradigm shift.
"We are very excited about the continued validation of our superior service to
our customers in the very demanding California marketplace. The acceptance for
our cardiac monitoring services is accelerating in California in no small part
due to the addition of our call center in San Francisco," stated Dr. Yacov
Geva, Chairman and CEO of LifeWatch AG. "And with Dimension Health we are able
to gain an important carrier in Florida for our NiteWatch Home Sleep Testing
service. We are sure that other private insurance companies will follow this
development."
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 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.
Attachments with Announcement:
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http://resources.euroadhoc.com/us/JrNcWOXN
Further inquiry note:
Sensus Investor and Public Relations GmbH, Zürich:
Tel+41 433665511 | 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/JrNcWOXN
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: free trade: Berlin, Open Market / XETRA: Frankfurt, Main Standard:
SIX Swiss Exchange
language: English