EANS-Adhoc: LifeWatch Services Inc., a subsidiary of LifeWatch AG completes settlement of civil investigation with the OIG in the U.S. (with document)
Un 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.
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Company Information/LifeWatch AG
26.03.2012
Neuhausen am Rheinfall / Switzerland - LifeWatch AG (SIX Swiss Exchange: LIFE),
the leading wireless cardiac monitoring service provider in the U.S., announced
today that it has settled the civil investigation with the Office of the
Inspector General of the U.S. Department of Health and Human Services ("OIG")
and by the United States Department of Justice ("DOJ").
You will find a PDF-version of this press release at the end of this message.
LifeWatch cooperated fully with the OIG and the DOJ during the course of the
investigation in which the Company denied any wrongdoing. In December 2011,
LifeWatch announced the settlement in principle with the OIG and has now
formally executed the settlement in accordance with the terms announced
previously.
And the US-Department of Justice now officially states: "The claims resolved by
the settlement are only allegations and do not constitute a determination of
liability."
To proactively comply with all federal policies and procedures, LifeWatch
engaged an experienced outside firm to enhance the LifeWatch Compliance Program.
The compliance program is overseen by a Corporate Compliance Officer. As part of
the settlement, the company has entered into a five year Corporate Integrity
agreement with the OIG.
LifeWatch will continue to provide the highest level of service to its
physicians and their patients.
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/CR4ucQv9
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
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/CR4ucQv9
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