EQS-Adhoc
LifeWatch AG: BioTelemetry, Inc. Launches a Tender Offer to Acquire LifeWatch AG - Seite 2
Dr. Stephan Rietiker, Chief Executive Officer of LifeWatch AG, commented: "We firmly believe that BioTelemetry is the best partner to maximize the future potential of LifeWatch. We envision this combination will allow our employees further opportunities to expand the business and leverage each others' strengths. This union is a positive development for patients, payors, providers and stakeholders. Pending a successful tender offer, we look forward to working with the BioTelemetry team to provide our customers with industry leading products and unmatched customer service."
Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., added: "We are extremely excited to announce the acquisition of LifeWatch. We believe the combination of the two, most
innovative, remote cardiac monitoring companies creates a unique opportunity to build an immensely successful connected health platform, capable of delivering highly sought after life-saving and
cost-reduction solutions. If the tender offer is successful, this transaction is expected to yield considerable efficiencies, creating tremendous shareholder value. We look forward to working with
the LifeWatch team and hope to be able to welcome them to the BioTelemetry family in the near future."
Expected Timing
The transaction is expected to close in the third quarter of 2017. The Pre-Announcement, including the conditions of the tender offer, is being published concurrently with this press release.
BioTelemetry intends to disseminate an Offer Prospectus and commence the tender offer by mid-April 2017.
The transaction is conditioned upon:
- At least 67% of all LifeWatch shares that are issued and outstanding at the end of the offer period, which may be extended, tendering into the offer; and
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- Further customary offer conditions described in the offer prospectus, including regulatory approvals.
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Advisors
Lazard is serving as LifeWatch's sole financial advisor. CMS von Erlach Poncet AG and Fox, Swibel, Levin & Carroll, LLP are serving as lead legal advisors to LifeWatch.
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Raymond James is acting as lead financial advisor to BioTelemetry with Deloitte providing financial advice on certain accounting and diligence matters. Greenburg Traurig, LLP, Niederer Kraft & Frey and Reed Smith LLP are serving as legal advisors to BioTelemetry.