LifeWatch AG, a health care technology and solutions company with services including home testing under the brand name NiteWatch, reported decreased profits and net income for Q4 2010.
Gross profit was USD 13.3 million in Q4 2010 with a margin of 60.9%, compared with USD 15.7 million with a 58.0% margin in Q4 2009. Net income for the fourth quarter of 2010 was USD 3.3 million, compared with net income of USD 5.9 million recorded in Q4 2009.
NiteWatch enrollments declined 22.5% sequentially to 423 enrollments in Q4 2010 from 546 enrollments in the prior quarter. Enrollments have been affected by changes to the NiteWatch organization during the quarter.
NiteWatch has underperformed in 2010, and a new plan was being developed to "re-launch" the service, according to the company. “To lead our efforts, the Company appointed Rafi Heumann, a veteran of LifeWatch, as business leader for NiteWatch,” according to a company statement. “Along with Rafi, the Company has hired talented individuals to join the NiteWatch team including Amy Halstead, a former NovaSom executive, that will focus on NiteWatch sales.”
