EQS-Adhoc
LifeWatch AG: BioTelemetry, Inc. Issues Prospectus for Public Tender Offer to Acquire LifeWatch AG
EQS Group-Ad-hoc: LifeWatch AG / Key word(s): Offer BioTelemetry, Inc. Issues Prospectus for Public Tender Offer to Acquire LifeWatch AG |
LifeWatch Board of Directors Supports BioTelemetry Tender Offer
Zug/Switzerland, April 24, 2017 - LifeWatch AG (SIX Swiss Exchange: LIFE), a leading developer and provider of medical solutions and remote diagnostic monitoring services in the digital health
market, announced today that BioTelemetry published the prospectus for the public tender offer for all publicly held registered shares of LifeWatch AG. Shareholders of LifeWatch will receive either
CHF 10.00 in cash and 0.1457 shares of BioTelemetry stock (Main Offer Consideration) (equivalent to CHF 4.00 per LifeWatch share based on the closing price of BioTelemetry on Friday, April 7, 2017)
or CHF 8.00 in cash and 0.2185 shares of BioTelemetry stock (Alternative Offer Consideration) (equivalent to CHF 6.00 per LifeWatch share based on the closing price of BioTelemetry on Friday April
7, 2017), depending on individual shareholder preference. Based on the April 7 share price, the total deal value was approximately CHF 260 million. The Board of Directors of LifeWatch supports the
public tender offer by BioTelemetry and recommends that shareholders accept it.
Taking into consideration the closing price of BioTelemetry's stock on April 20, 2017, two trading days prior to the publication of the offer prospectus, the Main Offer Consideration and the
Alternative Offer Consideration now have values of CHF 14.56 or CHF 14.84, respectively. The increase in BioTelemetry's stock price since the initial announcement on April 9 has increased the total
deal value to a range of CHF 269 million to CHF 275 million.
Further information can be found in the report of the Board of Directors of LifeWatch which is made available, together with the fairness opinion prepared by Raiffeisen, at www.lifewatch.com/public-tender-offer-Cardiac-Monitoring.html or in the offer prospectus of BioTelemetry at https://www.gobio.com/ and on the website of the Swiss Takeover Board, www.takeover.ch.