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EQS-Adhoc LifeWatch AG: Acquisition of FlexLife Health Inc., an INR monitoring company co-founded by the Cleveland Clinic

Nachrichtenquelle: EQS Group AG
10.11.2015, 07:00  |  713   |   |   

EQS Group-Ad-hoc: LifeWatch AG / Key word(s): Acquisition
LifeWatch AG: Acquisition of FlexLife Health Inc., an INR monitoring
company co-founded by the Cleveland Clinic

10.11.2015 / 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(R) acquires FlexLife Health Inc., an INR monitoring company
co-founded by the Cleveland Clinic

Zug/Switzerland, November 10, 2015 - LifeWatch(R) 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 acquisition of FlexLife Health Inc., a company offering remote
patient monitoring services in the area of coagulation measurement, by its
subsidiary, LifeWatch Services Inc.

FlexLife was founded in 2012 by the Cleveland Clinic Foundation and ZIN
Technologies, Inc. (a NASA partner for health in space) to offer home
monitoring solutions for INR (blood clotting) measurement. FlexLife offers
INR monitoring services via a proprietary web-based digital health platform
that is superior to all other current service offerings in the market.
Monitoring of the INR is essential for patients taking drugs like Warfarin
(an oral anticoagulant), which pose a risk of bleeding or clotting if
dosing is not properly monitored.

LifeWatch's electrophysiologist and cardiologist relationship base have
already expressed a deep interest in remote monitoring of INR for their
patients, since the main cause of a clinical arrhythmia, detected by
LifeWatch's existing cardiac devices, is atrial fibrillation for which
Warfarin is a common treatment option. Dr. Stephan Rietiker, CEO of
LifeWatch, stated: "I am excited about this acquisition, particularly since
Warfarin and similar generic anti-coagulants are the most commonly
prescribed ant-coagulant medications in the U.S. The FlexLife product
complements well our existing cardiac monitoring business and will allow us
to provide doctors and their patients needing INR therapy due to atrial
arrhythmias with a unique and easy-to-use product that will improve patient
quality of life."

LifeWatch will integrate this business into its existing operations to
benefit from synergy effects (reimbursement, distribution, etc.) and
profitably grow the business over the next few years. LifeWatch expects to
commence activities already in December this year with a full launch in the
U.S. at the beginning of 2016. The parties have agreed to keep the terms of
the transaction confidential.
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