LifeWatch AG / Key word(s): Change of Personnel
12.08.2014 17:31
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press Release
Roger Richardson leaves LifeWatch
Two months ago, LifeWatch set up a new organizational structure along
global business units to better focus on market needs. Today a further
adjustment has been made as LifeWatch and Roger Richardson, former
President of Global Patient Services, part ways effective immediately. The
initial findings of an ongoing internal investigation revealed that certain
activities in Global Patient Services were not being conducted according to
the company's principles and internal regulations. In keeping with the
Board of Directors' commitment to global risk management, the Board decided
it was in the best interest of the company and the shareholders for the
parties to separate. We thank Mr. Richardson for his service and wish him
well on his future endeavors.
Mr. Richardson had two roles within the company; one was a global role as
President of Global Patient Services for LifeWatch AG and the other was
President of LifeWatch Services, Inc. located in Rosemont, Illinois/USA.
With respect to Mr. Richardson's global role, the Board of Directors of
LifeWatch AG has appointed Dr. Stephan Rietiker, CEO, to temporarily also
assume the role of Interim President of Global Patient Services. This
division will now be run out of Switzerland rather than the United States.
With respect to Mr. Richardson's role as President of the U.S. subsidiary,
until a replacement can be found, Michael Turchi will, in addition to his
function as CFO, serve as Interim President of LifeWatch Services, Inc.
Upcoming results' announcement:
LifeWatch will report its half-year results 2014 on August 20.
A conference call will be held at 14.00 CET the same day. Dial-in will be
as follows:
CH: +41 44 580 65 22
GER: +49 69 2017 44 210
US: +1 877 423 0830
Participant Pin Code: 558424#
For further questions:
LifeWatch AG
c/o Dynamics Group, Philippe Blangey / Doris Rudischhauser
Phone: +41 43 268 32 35
E-mail: investor-relations@lifewatch.com
About LifeWatch AG:
LifeWatch AG, headquartered in Neuhausen am Rheinfall and listed on SIX
Swiss Exchange (LIFE), Switzerland, is a leading healthcare technology and
solution company, specializing in advanced telehealth systems and wireless
remote 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 and home sleep testing of Obstructive Sleep Apnea (OSA). LifeWatch
Technologies Ltd., based in Israel, is a leading developer and manufacturer
of telemedicine products. For additional information, please visit
www.lifewatch.com.
Sign up for customized e-mail alerts and documentation requests at
http://www.irlifewatch.com/alert-service.aspx
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
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 FROM 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.
12.08.2014 News transmitted by EQS Schweiz AG.
The issuer is responsible for the contents of the release.
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Language: English
Company: LifeWatch AG
Rundbuckstrasse 6
8212 Neuhausen am Rheinfall
Switzerland
Phone: +41 52 632 00 50
Fax: +41 52 632 00 51
E-mail:
Internet: www.lifewatch.com
ISIN: CH0012815459
Valor: 811189
Listed: Freiverkehr in Berlin, Stuttgart; Frankfurt in Open
Market ; SIX
End of Announcement EQS Group News-Service
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