EANS-Adhoc: LifeWatch announces agreement with Heritage Provider Network (with document)
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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. -------------------------------------------------------------------------------- Company Information/LifeWatch AG 05.10.2011 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., announces today an agreement of its U.S. subsidiary LifeWatch Services, Inc. with Heritage Provider Network in Southern California. The agreement brings LifeWatch in-network status with all affiliated medical groups of the Heritage Provider Network representing almost 500,000 covered lives. You will find a PDF-Version of the press release at the end of this message. In mid-February 2011 LifeWatch Services, Inc. opened its third call center facility in San Francisco to provide West Coast patients with full time zone comfort and to better meet the expectations of private insurance companies in California. After opening the call center LifeWatch applied for its Medicare IDTF provider number which was received, after an onsite Medicare inspection, on August 10, 2011. Following this development, the Company successfully negotiated its first agreement with the California based physicians group, Heritage Provider Network (www.heritageprovidernetwork.com), to include the ACT monitoring service. This agreement brings to LifeWatch in-network status with all of their affiliated medical groups, located mainly in Southern California. Heritage Provider Network contracts with over 32,000 physicians and 100 affiliated hospitals, and is the fourth largest Medical Management Organization in California, covering almost 500,000 lives. The agreement is effective as of August 1, 2011 and includes all the LifeWatch cardiac monitoring services. Beyond the Heritage Provider Network the Company is serving 113 insurance companies active in the Californian healthcare market. These contracts were closed before LifeWatch opened its third call center facility in San Francisco in mid-February 2011. Thus the "Golden State" with a population of over 38 million (California Healthcare Foundation 2009) is of growing strategic importance for LifeWatch as it is the biggest healthcare market within the United States with more than 3,000 practicing cardiologists. "We are very happy about this new agreement with Heritage Provider Network. Our strategy of bringing a third call center to San Francisco to be closer to our existing and eventual patients, physicians and business partners is beginning to bear fruit," stated Dr. Yacov Geva, Chairman and CEO of LifeWatch AG which is the parent company of LifeWatch Services, Inc. "The west coast presence offers our existing and new partners a full access to services provided and allows us to strengthen our market position in California." 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: ---------------------------------------------- http://resources.euroadhoc.com/us/QP5on9qJ 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 -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/QP5on9qJ 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