EANS-Adhoc: LifeWatch has filed an antitrust lawsuit against Highmark and the
BlueCross BlueShield Association alleging damages of over USD 60 million (with
document)
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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Company Information/LifeWatch AG
12.09.2012
Neuhausen am Rheinfall/Switzerland - LifeWatch AG (SIX Swiss Exchange: LIFE),
the leading provider of wireless telemedicine, announced today that the
Company has filed an antitrust lawsuit against Highmark BCBS, the BlueCross
Blue Shield Association, and several other BlueCross BlueShield entities
alleging damages of over USD 60 million.
You will find a PDF-version of this press release at the end of this message.
On September 10, 2012, LifeWatch filed an antitrust lawsuit in the United
States District Court in the Eastern District of Pennsylvania alleging damages
in excess of USD 60 million as a result of an alleged conspiracy among the
BlueCross BlueShield Association, Highmark BCBS, and several other BlueCross
BlueShield entities. LifeWatch alleges that Highmark BCBS, the BlueCross
BlueShield Association, and several other entities of BlueCross BlueShield have
violated antitrust laws by agreeing, for example, to deny reimbursement
payments for the wireless cardiac monitoring services of LifeWatch, Inc. in the
U.S., as well as for a variety of other medical services. Under the United
States antitrust laws, if successful, LifeWatch could receive trebled damages of
approximately USD 200 million.
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 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 US-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. The Company is
planning to introduce the LifeWatch V, an Android-based smartphone with medical
sensors and apps that uses a cloud-based service platform. For additional
information, please visit www.lifewatch.com.
Sign-up for customized E-mail alerts and documentation requests is available
athttp://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/xAaSwiA0
Further inquiry note:
Sensus Investor and Public Relations, 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/xAaSwiA0
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