LifeWatch: Five-year Corporate Integrity Agreement Successfully Completed

PR68883

ZUG, Switzerland, June 9, 2017 /PRNewswire=KYODO JBN/--

    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 that LifeWatch Services, Inc., the US

subsidiary of LifeWatch AG, has successfully completed the five- year term of

its Corporate Integrity Agreement (CIA).

    In March 2012, LifeWatch entered into a Settlement Agreement with the U.S.

Department of Justice, Office of the Inspector General (OIG) agreeing to pay

$18 million and operate under a five-year CIA. The case pertained to certain

sales-related activities. During the five-year period, LifeWatch operated under

the guidance of an Independent Review Organization and submitted reports of its

compliance activities, on an annual basis, to the OIG. Today that additional

oversight has come to an end with the successful completion of the five-year

CIA. LifeWatch's CEO Dr. Stephan Rietiker commented, "We are pleased to be able

to move past this chapter in the company's history. We are strongly committed

to delivering diagnostic cardiac monitoring services with the highest levels of

integrity, compliance and patient safety. The highest standards of ethics and

compliance are part of LifeWatch's DNA, and we will continue to use established

best practices developed during the OIG oversight as an integral part of

maintaining a comprehensive and effective compliance program."

    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, 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 Saglik 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 http://www.lifewatch.com.

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    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.

    LifeWatch AG

    Baarerstrasse 139

    CH-6300 Zug, Switzerland

    http://www.lifewatch.com

    For further questions:

    LifeWatch AG

    Andrew Moore, CFO

    c/o Communicators AG

    Ralph Spillmann

    Mobile +41-79-514-64-84

    investor-relations@lifewatch.com

SOURCE: LifeWatch AG