BioTelemetry, Inc. Completes LifeWatch AG Acquisition
July 12 2017 - 11:00AM
BioTelemetry, Inc. (NASDAQ:BEAT), the world’s leading wireless
medical technology company focused on the delivery of health
information for healthcare providers to monitor and diagnose
patients accurately and cost-effectively, announces it has
completed its acquisition of LifeWatch AG (SIX:LIFE).
“We are gratified that LifeWatch AG shareholders embraced the
immense strategic value and potential of this acquisition and moved
quickly to support the BioTelemetry tender,” said Joseph H. Capper,
President and Chief Executive Officer of BioTelemetry, Inc.
“This acquisition strengthens our preeminent position as the leader
in wireless medicine, creating the foremost connected health
platform, significantly enhancing our ability to improve quality of
life and reduce cost of care.”
In completing the acquisition and securing its position as
market leader in remote cardiac monitoring and diagnostic services,
BioTelemetry will now focus on combining both companies’
strengths. The Company will use its new scale to advance
device innovation and expand into other chronic care sectors,
leveraging the unique capabilities of remote monitoring to enhance
the delivery of care. The Company will be addressing the
acquisition during its upcoming second quarter earnings call.
About BioTelemetryBioTelemetry, Inc., formerly
known as CardioNet, Inc., is the leading wireless medical
technology company focused on the delivery of health information to
improve quality of life and reduce cost of care. The company
currently provides cardiac monitoring services, original equipment
manufacturing with a primary focus on cardiac monitoring devices
and centralized core laboratory services. More information
can be found at www.biotelinc.com.
About LifeWatch AGLifeWatch AG, headquartered
in Zug, Switzerland and listed on the SIX Swiss Exchange (LIFE), is
a leading healthcare technology and solutions 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, Israel
and Turkey, and is the parent company of LifeWatch Services Inc.,
LifeWatch Technologies, Ltd. and LifeWatch Turkey Holding AG (joint
venture). LifeWatch Services, Inc. is a leading U.S.-based provider
of cardiac monitoring services. LifeWatch Technologies Ltd., based
in Israel, is a leading manufacturer of digital health products.
LifeWatch Sağlık Hizmetlerine A.S. is the operative Turkish
subsidiary of LifeWatch Turkey Holding AG and provider of mobile
cardiac telemetry services in Turkey. For additional information,
please visit www.lifewatch.com.
Cautionary Statement Regarding Forward-Looking
StatementsThis document includes certain forward-looking
statements regarding, among other things, statements about both
BioTelemetry’s and LifeWatch’s beliefs, expectations and statements
about BioTelemetry’s proposed acquisition of LifeWatch AG. These
statements may be identified by words such as “expect,”
“anticipate,” “estimate,” “intend,” “plan,” “believe,” “promises”,
“projects,” and other words and terms of similar meaning. Such
forward-looking statements are based on current expectations and
involve inherent risks and uncertainties, including important
factors that could delay, divert, or change any of these
expectations, and could cause actual outcomes and results to differ
materially from current expectations. Factors that may materially
affect such forward-looking statements include the BioTelemetry’s
ability to successfully integrate the companies and expend into
chronic care sectors. For further details and a discussion of these
and other risks and uncertainties, please see BioTelemetry’s public
filings with the Securities and Exchange Commission, including the
company’s latest periodic reports on Form 10-K and 10-Q
respectively, LifeWatch’s past press releases, reports and other
information posted on LifeWatch’s website. Readers are cautioned
not to put undue reliance on forward-looking statements, which
reflect only opinions as of the date of this press release.
BioTelemetry and LifeWatch do not undertake, and specifically
disclaim, any obligation to publicly update or amend any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Contact:
BioTelemetry, Inc.
Heather C. Getz
Investor Relations
(800) 908-7103
investorrelations@biotelinc.com
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