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LifeWatch ditches public offering bid:

This article was originally published in Clinica

Executive Summary

Cardiac monitoring company LifeWatch has cancelled its proposed IPO of around $86.3m worth of common stock. In a registration statement to the US Securities and Exchange Commission, the Rosemont, Illinois-based firm said that its board of directors had decided that "pursuing the initial public offering at this time is not in the best interests of the company". The IPO, which was originally filed in December 2006, was expected to provide funding to repay outstanding debt to LifeWatch's parent company, Swiss healthcare technology and solutions provider CardGuard. LifeWatch was also planning to use the proceeds to purchase, launch and market CardGuard's LifeStar ACT cardiac monitoring device and to support the relocation of its production facilities to a new site.

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