10.11.2015, 08:57
LifeWatch AG: Acquisition of FlexLife Health Inc., an INR monitoring company co-founded by the Cleveland Clinic
OREANDA-NEWS. 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.
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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