NiteWatch Home Sleep Testing service receives Joint Commission accreditation as an Ambulatory Health Care Program
Switzerland, November 23, 2009 - LifeWatch AG (SIX Swiss Exchange: LIFE), the leading provider of wireless cardiac and other medical monitoring services in the U.S., announced today that its "NiteWatch" home sleep testing service has been accredited with the Joint Commission for "Ambulatory Health Care Programs", and is one of only a few independent diagnostic testing facilities (IDTFs) which have received this Gold Seal of Approval.
"Joint Commission certification endorses LifeWatch as an organization committed to clinical excellence and quality" stated Marikay Menard, Vice President of Clinical Strategy and Regulatory Affairs of LifeWatch Services, Inc. "The expansion of this certification to our NiteWatch Home Sleep Testing service confirms this commitment to quality as we expand our medical service offering to home sleep testing in the first quarter of 2010.
The Joint Commission on Accreditation of Healthcare Organizations evaluates and accredits nearly 17,000 health care organizations and programs in the United States. As an independent, not-for-profit organization, the Joint Commission is the nation´s predominant standards-setting and accrediting body in health care.
"This additional accreditation further demonstrates LifeWatch´s commitment to provide patients with the highest quality clinical services in the industry," stated Dr. Yacov Geva, Chairman and Chief Executive Officer of LifeWatch AG.
NiteWatch provides Home Sleep Testing for diagnosing Obstructive Sleep Apnea (OSA), a widely undiagnosed medical condition that is highly correlated with other chronic diseases. Thirty eight million Americans are affected by OSA, of which fifteen million are undiagnosed. The U.S. market for OSA is currently estimated at USD 1.5 billion, out of which an estimated one million tests are conducted annually. This market is projected to grow between 20-50% in the next five years, with home sleep testing capturing approximately 20% of the total market. LifeWatch, as the first Cardiac IDTF to enter into home sleep testing services, will leverage its medical monitoring expertise into a competitive advantage, and diversify LifeWatch´s service offering. LifeWatch is fully on track with its planned roll out of the NiteWatch service and has expanded its beta launch to 12 clients and is now approaching 50 patients. The Company has already signed 166 commercial managed care contracts covering 90 million lives for its new NiteWatch service and will continue to broaden coverage with additional contracts.
About LifeWatch AG
LifeWatch AG, headquartered in Neuhausen am Rheinfall and listed on SIX Swiss Exchange (LIFE), Switzerland, is the leading healthcare technology and solution company, specializing in advanced telehealth systems and wireless remote patient monitoring services. LifeWatch services treat high-risk and chronically ill patients, health conscious consumers and wellness programs. LifeWatch has subsidiaries in the United States, the Netherlands, Japan, the United Kingdom, Switzerland and Israel. LifeWatch AG is the parent company of LifeWatch Services Inc., a leading US-based cardiac monitoring service provider, and manufacturer of telecardiology products. LifeWatch is also introducing a new program for Home Sleet Testing of Obstructive Sleep Apnea (OSA) patients under the brand name NiteWatch. For additional information, please visit www.lifewatch.com and www.nitewatchservices.com
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issuer: LifeWatch AG Rundbuckstrasse 6 CH-8212 Neuhausen am Rheinfall phone: +41 52 632 00 50 FAX: +41 52 632 00 51 mail: firstname.lastname@example.org WWW: www.lifewatch.com sector: Healthcare Providers ISIN: CH0012815459 indexes: SPI, SPIEX stockmarkets: Open Market / XETRA: Frankfurt, Hauptsegment: SIX Swiss Exchange, free trade: Berlin language: English