LifeWatch exits INR Market, e.g., fails to honor legal agreement again

Discussion in 'Lifewatch' started by anonymous, Jan 15, 2017 at 9:59 PM.

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  1. anonymous

    anonymous Guest

    The Senior Leadership and Board of LifeWatch seem again to demonstrate its failures in providing honorable actions, ethics, and US healthcare market understanding. In their most recent press release (1/9/2017), which on its surface was to announce an exit of INR services, seems to be a public notice of another serious legal action against the corporation. In full disclosure, this posting does not have all the facts, but finds it suspicious that Lifewatch posted this press releases only days after being accused of failing to honor the Stock Purchase Agreement made with Flexlife. This company, which once provided needed and ethical ambulatory cardiac services prior to 2006, seems not to be trusted by their customers, the US courts or government; when examining how these bodies have ruled. Maybe one root cause could be the failure of their Compliance Program and related Officers? These officers has been at the circle of several negative issues (Highmark, whistle blowing, Geva's stock purchases, and countess terminations of ethical people) and some business development interactions (Walgreens and Flexlife). This author is only looking from the outside to the inside with great curiosity. Always interesting. Let's discuss. Thank you.
     

  2. anonymous

    anonymous Guest

    They left the inr market from Linde dominating them with mdinr.
     
  3. anonymous

    anonymous Guest

    Thanks, but if this is true then LifeWatch acquired technology that could not compete in the INR space or at best they were unable to execute a roll out plan for a simple comparative business verticals. Both reasons show a lack of skilled leadership and extreme business incompetence. Did they not perform sufficient due diligence? Regardless, this issue is another neagative cloud around the LifeWatch name. By NOT honoring the SPA with Flexlife in the amount of 5+ Million or at least coming to an a private agreement for all parties is the real issue here. All litigation is expensive. Many times there are no winners.

    LifeWatch's record of winnning litigation is extremely poor. Ego, or incompetence, or both maybe the root cause of their losses within the legal system. In the BCBS Highmark case their initial "Star" witness was their compliance officer who had limited experience with complex third party payment contracting litigation. He is known for being boastful, and over selling his experience, and then adapting story lines that meet his person preservation technique. Maybe this is what happen...untruthful statements always lose to the truth. Of course, what is also disturbing is the then Corporate CEO praised his deposition testimony without really understand the complete picture. Fast forward a few years from the initial deposition by the Compliance officer and it cost the company millions more than original demand.

    Lifewatch needs to become ethical in dealing with business partners, employees, and the clients they serve. Maybe they could start in 2017 by replacing the failures of the Compliance Officer, in-house legal staff, and others. These staff members seem not to have learned from the past.
     
  4. anonymous

    anonymous Guest

    You make some valid points. Quite different from the normal dribble on this thread. The incompetence at LW starts at the top. A CEO and a Board that has made poor decision after poor decision. The FlexLife deal is a great example. Zero due-diligence and no understanding of the US market or the reimbursement of such a test. That was simply a curve ball for the sales force in order to mask the real issue which was the incompetence of the Executives (and lack of funds / intelligence to bring a patch to market). The Board and Executive team have made a series of poor decisions with little respect for the employees of LW. That's business. But the CEO has not understood the US market or the monitoring space from Day 1. Only tried to run the company like Rouche. And it failed. Ego and lies ruled the day. And still do. The Chief Legal Counsel is a joke and has lost every litigation put in front of her. If not for her sleeping with the CEO, she would have been out years ago. And the Board would have to know all of this, right?

    The Executive team backed themselves into a corner and the only way out was to push down the price of the stock and sell to a Board member. The big players in the monitoring space (BEAT, Medtronic, etc) wouldn't touch the company with a 10-foot pole because of the mess that has been created by Rietiker and his team. Now insert ANOTHER VP of Sales that doesn't know what she's doing and you have a recipe for future probems (that is, if her sleeping with married managers doesn't get her first).

    The Executives will cash out and move on. Good for them. They deserve to be paid for all of the hard work they have done (sarcasm). I wonder what Aevis Victoria will do with the company? Sell to a bigger player? Then we will all be out of jobs. It's sad to see what SR has done with the company. Geva started the downfall and Rietiker finished it off. Neither could get past his own ego. Yet, both will ride into the sunset with money in their pockets. I wonder if they are more intelligent than anyone gives them credit for? I doubt it.
     
  5. anonymous

    anonymous Guest

    INR. all VP's and above no bonus. no merit increase. no nothing. because of a mistake of mr. dumbass CEO blinded by JH. so stupid. company missed budget almost exactly by the amount promised by JH for INR. so instead of taking accountability for a ridiculous decision and being blinded by the puffy lip injected person leading the charge. let's instead kill all vp's bonuses...merits...and everyone else pay the price 'except' for dumbass fucks like VN who lick his ass and drive him like a taxi driver around...bitch. so stupid. so many amazing people wanting to lead right now. so many. so many that can take this to the next level. but you have someone at the top that is stubborn. stupid. ignorant to the world. and just an idiot. let's just make decisions to keep my legal officer happy so she can continue to run the company and hold my dick in the process. let's just have 90% of the company kicking absolute ass and watch the company crumble because the CEO is literally retarded. dumb. no clue what the company actually does...it's amazing to me. amazing. i have never in my life been part of such an amazing thing in my life...and watched it crumble because the CEO is a complete fucking moron. it is almost an episode of family guy or beavis and butthead.
     
  6. anonymous

    anonymous Guest

    i have never in my life seen a CEO that is so fucking clueless with what the company does. lol - it's almost embarrassing. lol
     
  7. anonymous

    anonymous Guest

    Agreed.
     
  8. anonymous

    anonymous Guest