SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 1, 2018
(Exact name of registrant as specified in its charter)
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On November 1, 2018, the Board of Directors (the “Board”) of BioTelemetry, Inc. (the “Company”) appointed Dr. Stephan Rietiker to the Board, filling a Class III vacancy. Dr. Rietiker has not been appointed to serve as a member of any Board committees.
Consistent with the other non-employee directors of the Board, Dr. Rietiker will receive an annual retainer of $55,000, payable, at his election, in cash or restricted stock units, and an annual grant of restricted stock units valued at $130,000. In each case, such amounts shall be prorated to reflect the date Dr. Rietiker's service began. Additionally, the Company expects Dr. Rietiker to enter into the Company’s standard indemnification agreement for its directors.
Prior to his appointment to the Board, Dr. Rietiker was employed by a subsidiary of the Company. Dr. Rietiker's employment ceased on October 31, 2018. At such time, Dr. Rietiker and LifeWatch GmbH entered into a Termination Agreement, which entitled Dr. Rietiker to a CHF 675,000 payment for notice and bonus pay, a CHF 9,000 payment for expenses, and a CHF 38,259 pension contribution. Prior to Dr. Rietiker's employment ceasing, he received an annual salary from LifeWatch GmbH of CHF 450,000 and an annual car allowance CHF 18,000 pursuant to his employment agreement.
A copy of the press release announcing Dr. Rietiker's appointment to the Board is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Press release dated November 7, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: November 7, 2018
/s/ Heather C. Getz
Heather C. Getz
Executive Vice President and Chief Financial Officer
BioTelemetry, Inc. Elects Stephan Rietiker to its Board of Directors
Malvern, PA – November 7, 2018 – BioTelemetry, Inc. (NASDAQ:BEAT) announced today that Stephan Rietiker has been elected to BioTelemetry’s Board of Directors.
Dr. Rietiker was most recently the Chief Executive Officer of LifeWatch AG, until it was acquired by BioTelemetry in August 2017. Prior to becoming CEO of LifeWatch AG in 2014, Dr. Rietiker held executive roles at Roche, Boehringer Mannheim, Schering Plough, Covance and as CEO of Centerpulse (formerly Sulzer Medica). Additionally, he has been an investor, executive and Board Member of several developmental-stage companies and has been a Senior Advisor to Brown Brothers Harriman’s M&A practice.
Dr. Rietiker, a Swiss-US dual citizen, is a trained physician with a doctorate from the University of Zurich, Switzerland, and is also qualified to practice medicine in the United States.
Joseph Capper, President and Chief Executive Officer of BioTelemetry commented, “We are extremely pleased and honored to welcome Steve to the Board of Directors. His active participation was vital to the highly successful merger and integration of LifeWatch into BioTelemetry.
Steve’s proven leadership, in-depth understanding of the healthcare industry and experience in global markets make him an ideal addition to our Board.”
BioTelemetry, Inc. is the leading remote and wireless medical technology company focused on delivery of health information to improve quality of life and reduce cost of care. We provide cardiac monitoring, mobile blood glucose monitoring, centralized medical imaging, and original equipment manufacturing that serves both the Healthcare and Clinical Research industries. More information can be found at www.gobio.com.
Heather C. Getz
Executive Vice President, Chief Financial Officer