EQS-Adhoc: LifeWatch AG: LifeWatch AG signs agreement to bring its cardiac moni-toring business to the Turkish market
EQS Group-Ad-hoc: LifeWatch AG / Key word(s): Joint Venture
LifeWatch AG: LifeWatch AG signs agreement to bring its cardiac
moni-toring business to the Turkish market
13.07.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
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LifeWatch AG signs agreement to bring its cardiac monitoring business to
the Turkish market
Zug/Switzerland, July 13, 2015 - LifeWatch AG (SIX Swiss Exchange: LIFE), a
leading developer and provider of medical solutions and remote diagnostic
monitoring services in the digital health market, is pleased to announce
the signing of an agreement to bring its cardiac monitoring business to the
Turkish market.
Following extensive discussions and market research, LifeWatch will
establish a joint venture with a group of well-established Turkish
entrepreneurs to introduce its cardiac monitoring services to the Turkish
market. The Turkish entrepreneurs will provide reliable access to
infrastructure and trained staff, which will be necessary for the
setting-up and running of a call center, whilst LifeWatch will supply the
knowledge and necessary devices to successfully run the business. Following
a successful market introduction of the cardiac monitoring business,
LifeWatch also anticipates bringing to market some of its other products
such as the Vital Signs Patch. Turkey, with a population of over 77
million, has a very modern and well-developed healthcare system, which is
keen to embrace leading edge digital health technology. Turkey is also a
growing health hub for many patients from other Turkmen and Middle East
countries and can therefore be utilized as a stepping-stone to these other
markets.
This agreement represents LifeWatch's first significant move towards the
internationalization of its business. Dr. Stephan Rietiker, CEO of
LifeWatch, stated: "I am very excited about this joint venture since it
will enable LifeWatch to expand its cardiac monitoring device offerings for
patients outside of the US for the first time. Furthermore Turkey is a
large market with significant potential and can additionally serve as a
gateway to other Turkmen states."
The joint venture will set-up the necessary infrastructure over the next
few months and expects to begin sales activities in early 2016.
For further questions:
LifeWatch AG
c/o Dynamics Group, Philippe Blangey / Doris Rudischhauser
Phone: +41 43 268 32 35 / +41 79 410 81 88
E-mail: investor-relations@lifewatch.com About LifeWatch AG:
LifeWatch AG, headquartered in Zug and listed on SIX Swiss Exchange (LIFE),
Switzerland, is a leading healthcare technology and solution company,
specializing in advanced digital health systems and wireless remote
diagnostic 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.
End of ad hoc announcement
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=MVSDJTKAPP
Document title: LifeWatch AG signs agreement to bring its cardiac
monitoring business to the Turkish market
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13.07.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news
archive: http://switzerland.eqs.com/de/News
The issuer is responsible for the contents of the release.
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Language: English
Company: LifeWatch AG
Baarerstrasse 139
6300 Zug
Switzerland
Phone: +41 41 728 67 78
Internet: www.lifewatch.com
ISIN: CH0012815459
Valor: 811189
Listed: Regulated Unofficial Market in Berlin, Stuttgart; Open
Market in Frankfurt ; SIX
End of News EQS Group News-Service
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