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Investing

IPO Filing: LifeWatch (correction)

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By Douglas A. McIntyre Published

LifeWatch has filed to come public in an IPO via a sale of up to $86.25 million in common stock.  It even has the proposed ticker "LIFE" on NASDAQ.  The company has listed Jefferies & Co., Cowen & Co. and Piper Jaffray as the joint bookrunners.

The company claims to be the leading independent provider of ambulatory cardiac event monitoring services and the leading manufacturer and distributor of ambulatory cardiac event monitoring devices; and claims this is a $1.1 billion industry according to the 2004 Frost & Sullivan study.  On August 23, 2006, the FDA approved for marketing the LifeStar ACT™ and it has the exclusive right to offer services using the LifeStar ACT™ in the United States through 2011 and are in the process of launching. 2005 revenues were $37.5M and it posted a $7.8M net income after some tax benefits.  Its sales for the first 9-months of 2006 were $31 million with net income of $1.2 million after a $1.3 million tax loss.

This appears is the US operation backed by Card Guard AG, a public company in Switzerland (was previously and improperly listed as Life Guard in Germany, which was an error).

Jon C. Ogg
December 13, 2006

Contact [email protected] for any questions or corrections.

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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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