LifeWatch (LIFE)

Business description

LifeWatch, headquartered in Switzerland and listed on SIX, specialises in advanced digital health systems and wireless remote diagnostic patient monitoring services (eg mobile cardiac telemetry, MCT). Its primary operations are in the US, but LifeWatch is working on expanding to new geographies and has established a JV in Turkey.

Stock data

Market cap.CHF264.2m
Last closeCHF14.30
High / Low (52 weeks)CHF14.5 / CHF8.9
Stock market listingSW
Forecast net cash (US$m)22.6
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual5.524.921.6
Relative *2.518.311.4

* % Relative to local index

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Company news

BioTelemetry, Inc. Issues Prospectus for Public Tender Offer to Acquire ...

Mon, 24 Apr 2017 21:00:00 GMT

BioTelemetry, Inc. Launches a Tender Offer to Acquire LifeWatch AG

Sun, 09 Apr 2017 20:21:29 GMT

Cleveland company FlexLife Health acquired by LifeWatch AG

Tue, 10 Nov 2015 13:41:15 GMT

LifeWatch AG Signs Agreement With AliveCor, Inc.

Mon, 11 Jan 2016 06:03:43 GMT

Former Highmark chief Melani re-emerges with board position at LifeWatch AG

Thu, 28 Mar 2013 04:22:13 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2014A 98.5 5.9 0.3 (16.8) N/A 46.5
2015A 88.6 (3.6) (11.7) (59.6) N/A 19.2
2016E 113.3 0.2 (5.0) (44.1) N/A N/A
2017E 123.3 11.5 5.5 19.1 74.8 34.1

Last updated on 16/03/2017

Investment summary

LifeWatch specialises in ECG-based remote cardiac monitoring services and is one of the leading companies in this space in the US, with around four million patients monitored to date. The company had a solid FY15, with 8.3% adjusted revenue growth and its strongest EBITDA in six years. However, 2016 was turbulent, mainly as a result of costly but one-off legal settlements. Having streamlined its cost base and left the legacy issues behind it, LifeWatch is now well placed to capitalise on healthy market growth, returning to profitability in FY17. On 24 January 2017, existing LifeWatch's shareholder Aevis Victoria announced a public offer for all LifeWatch shares at a price of CHF10.0/share valuing the company at CHF185m. LifeWatch indicated that it will seek to solicit additional offers, as the board of directors concluded that the offer is not in the interest of the shareholders.

Last updated on 04/04/2017

Industry outlook

Against the background of increasing prevalence of chronic diseases and rising healthcare costs, there is a compelling need for third-party remote service providers, which allow hospitals to outsource ambulatory cardiac monitoring. LifeWatch’s competitive advantages include technology know-how, existing wide reimbursement coverage and live data centres.

Last updated on 04/04/2017

Key management

Dr Stephan Rietiker, CEO
Andrew Moore, CFO

Company address

Baarerstrasse 139
Zug
CH-6300
Switzerland
+41 41 728 67 77
View website