LifeWatch AG

EANS-Adhoc: LifeWatch AG hires new Top Managers to drive growth strategy • Brent Cohen to spearhead global growth as President and COO • Jake Mendelsohn appointed Executive Vice President

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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  announcement.
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11.01.2010

Neuhausen am Rheinfall / Switzerland, January 11, 2010 - LifeWatch AG (SIX Swiss Exchange: LIFE), the leading wireless remote cardiac and medical patient monitoring service provider in the USA, today announced the strengthening of its Management Team. Brent Cohen was appointed President and Chief Operating Officer of LifeWatch AG and Jake Mendelsohn as Executive Vice President of LifeWatch AG. Brent Cohen, an internationally renowned manager, will lead the Company´s growth initiatives in the remote patient monitoring business and beyond.

Brent Cohen has accumulated over 20 years of extensive management expertise in various executive roles in both public and private industrial and service companies, and has a proven track record of management successes. Amongst others, Brent Cohen, as CEO and Board Member, drove the turnaround of DoveBid, Inc., the largest global online auction marketplace for surplus capital and reverse supply chain assets. Prior to that, he served as President and COO at First Advantage Corporation. His past achievements also include the build-up and sale of Packard Bell. Brent Cohen has been supporting LifeWatch as business consultant during the last months and has already built a profound understanding of the Group and the industry.

At the same time, Brent Atwood will assume responsibility as Chief Sales Officer at LifeWatch Services Inc. /USA, taking over from his predecessor Mike Fiorito who has left the Company to pursue other challenges.

In addition, Jake Mendelsohn was appointed Executive Vice President of LifeWatch AG. Jake Mendelsohn brings with him more than 20 years experience in improving and managing operational and technology functions of both small and large global companies in various sectors. In the past, he has worked with Brent Cohen in building a series of successful businesses. He will now support the Group´s growth strategy by improving and streamlining business processes and implementing technology solutions.

"We are delighted that Brent Cohen has joined us to lead the continued expansion of LifeWatch as we move towards new application areas and new markets;" said Yacov Geva, Chairman and CEO of LifeWatch AG. "Brent Cohen´s experience brings us to a new level of operational, sales and management sophistication. With his proven track record, he will spearhead the continued growth of our monitoring platforms worldwide. I am confident that we will excel at leveraging the Company's existing leadership position of innovative products and services and aggressively target new market opportunities with broader disease management capabilities. At the same time, I am very pleased that Brent Atwood can now focus solely on the sales and business development activities of LifeWatch Services Inc. /USA. I am convinced that, in the new setup, we will be able to drive the Company into a prominent global share in the exciting field of wireless medicine and remote monitoring. Jake Mendelsohn will support our growth by automating processes, improving efficiencies and designing and setting up integrated systems which will allow LifeWatch to further enhance our competitive advantage."

Brent Cohen added:" I am pleased to join the LifeWatch team to lead the next phase of our global growth. My focus is to ensure that we grow the business rationally, without compromising financial performance, while effecting adequate controls and infrastructure capability to continue to deliver the highest level of physician and patient care, coupled with superior diagnostic yield. Jake Mendelsohn´s input will be instrumental in this area. LifeWatch is well positioned to capitalize on the dynamic changes occurring in the health care industry: the company and industry is at an inflection point, with remote monitoring and wireless medicine poised for dramatic growth and global acceptance both in the traditional reimbursable and other market segments. With its unique access to technology, improved diagnostic yields and patient care, the Company will accelerate its efforts to exploit the tremendous opportunity in the domestic and global marketplace."

The Group Management of LifeWatch now comprises Yacov Geva, Chairman and Chief Executive Officer LifeWatch AG; Kobi Ben Efraim, Chief Financial Officer LifeWatch AG; Brent Cohen, President and Chief Operating Officer LifeWatch AG; and Jake Mendelsohn, Executive Vice President LifeWatch AG; as well as Brent Atwood, Chief Sales Officer LifeWatch Services Inc. /USA; and Reuven Freudinger, Vice President Business Development and Marketing CardGuard Scientific Survival, Ltd/Israel.

Curriculum vitae Brent Cohen Most recently, Brent Cohen was Chief Executive Officer and a member of the Board of Directors of DoveBid Inc. (a Texas Pacific Group and Softbank Capital controlled company), the largest global online auction marketplace for surplus capital and reverse supply chain assets operating in 20 countries, where he realigned the business strategy, introduced new products and services, and increased recurring revenues from Global 1000 customers prior to its successful sale in 2008.

Prior to that he served as President and Chief Operating Officer of First Advantage Corporation (NASDAQ NM:FADV), a company which was formed through the merger of The First American Corporation´s (NYSE: FAF) Screening Technology division with US SEARCH.com (NASDAQ: SRCH), where he had served as Chairman and Chief Executive Officer since 2000. First Advantage is a leading provider of best-in-class single-source solutions for the screening and risk mitigation needs of global corporations and consumers. Brent Cohen refined the company's strategy and business model with the culmination of First Advantage Corporation going public in June 2003 with an initial market capitalization of USD 500 million.

From the start of Packard Bell NEC (formerly Packard Bell Electronics) until his departure 11 years later in 1998, Brent Cohen held various senior management positions including President, Chief Operating Officer, and Chief Financial Officer. During his tenure, Packard Bell became the number one selling home computer worldwide, reaching over USD 4 billion in sales in more than 50 countries.

Currently Brent Cohen serves on the Board of the California Oncology Research Institute in California.

Earlier in his career, Brent Cohen worked in various management positions at Arthur Young. Brent is a Chartered Accountant and holds a Masters of Business Administration from the University of Cape Town/South Africa. Brent Cohen is 51 years old and a South African citizen.

Curriculum vitae Jake Mendelsohn Most recently Jake Mendelsohn served as Executive Vice President for Global Operations and Technology at DoveBid, Inc., where he restructured the global operations teams, automated processes and enhanced the company´s systems offerings to improve efficiency, reduce cost and improve quality. From 2000 until 2003, he served as Chief Information Officer at First Advantage Corporation (NASDAQ NM: FADV) and US Search.com, Inc (NASDAQ:SRCH), where he was responsible for systems strategy, call centers, service fulfillment and IT operations.

Prior to that, Jake Mendelsohn served from 1996 to 2000 as CIO for PETsMART, the largest specialty pet retailer of services and solutions for pets. He directed the information technology operations and the IT strategy of the company and implemented enterprise resource planning systems to support company growth. In 1999, RETAILTECH Magazine named Mendelsohn one of their "Top 10 CIOs of the Year."

Earlier in his career, Jake Mendelsohn acted from 1986 until 1996 as principal with The Windsor Park Group, a management consultancy practice, and held before financial management positions at IBM and Arthur Andersen. He has a graduate degree in accounting and is a Chartered Accountant. Jake Mendelsohn, born in 1956, is a South African citizen.

end of ad-hoc-announcement ========================================== ====================================== 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 SleepTesting of Obstructive Sleep Apnea (OSA) patients under the brand name NiteWatch. For additional information, please visit www.lifewatch.com and www.nitewatchservices.com

Sign-up for customized e-mail alerts and documentation requests is available at http://production.investis.com/lifewatch/alert-service/

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, 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.

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF SECURITIES OF LIFEWATCH AG OR ANY OF ITS SUBSIDIARIES FOR SALE IN THE UNITED STATES OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OF LIFEWATCH AG OR ITS SUBSIDIARIES IN THE UNITED STATES. IN ADDITION, THE SECURITIES OF LIFEWATCH AG AND ITS SUBSIDIARIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS. ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM LIFEWATCH AG OR ITS SUBSIDIARIES, AS APPLICABLE, AND WILL CONTAIN DETAILED INFORMATION ABOUT THE ISSUER AND ITS MANAGEMENT AS WELL AS FINANCIAL STATEMENTS OF THE ISSUER.

end of announcement                               euro adhoc
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Further inquiry note:

For further information from LifeWatch please contact:

Kobi Ben Efraim, Chief Financial Officer, LifeWatch AG
Tel +41 52 632 00 50 | Fax +41 52 632 00 51 | E-mail kobibe@lifewatch.com

Sensus Investor & Public Relations GmbH, Zürich:
Tel +41 43 366 55 11 | Fax +41 43 366 55 12 | E-mail lifewatch@sensus.ch

Branche: Healthcare Providers
ISIN: CH0012815459
WKN: 1281545
Index: SPI, SPIEX
Börsen: Frankfurt / Open Market / XETRA
SIX Swiss Exchange / Hauptsegment
Berlin / free trade

Original-Content von: LifeWatch AG, übermittelt durch news aktuell

Weitere Meldungen: LifeWatch AG

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