06/28/2004
FRAMINGHAM, Mass. (BUSINESS WIRE) -- Lifeline Systems, Inc.
(NASDAQ: LIFE), the leading provider of personal response services and emergency call systems in the United States and Canada, today announced it has acquired in a cash transaction the stock of privately held PROTECT Emergency Response Systems, Inc., of Concord, California. PROTECT is a supplier of wireless emergency call systems for the senior living industry.
"Offering PROTECT's wireless emergency call technology along with Lifeline's existing telephony emergency call products will enable operators of senior living communities to select the type of response system that works best for them," said Ron Feinstein, president and chief executive officer of Lifeline. "As with the March Networks acquisition that we completed a year ago, PROTECT will provide Lifeline access to a broader market of senior living owners and developers and an additional installed base of customers.
"Our Senior Living initiative is in the early stages of development and we are pleased with its progress," said Feinstein. "While the PROTECT acquisition will not have a material impact on Lifeline's business in 2004, we expect that it will be accretive before the end of 2005."
About PROTECT Emergency Response Systems, Inc.
Established in 1983, PROTECT introduced wireless Emergency Call Systems specifically designed for the senior living industry. Since then, PROTECT has sold, installed and continues to service more than 800 systems, protecting tens of thousands of residents in Senior Apartments, Independent Living, Assisted Living and Alzheimer's communities.
About Lifeline Systems, Inc.
Established in 1974, Lifeline Systems is the leading provider of personal response services and emergency call systems in the United States and Canada. It currently supports more than 400,000 subscribers from response centers in Massachusetts, Ontario and Quebec. Lifeline also supplies emergency response equipment and services to owners and developers of independent living, assisted living and continuing care retirement communities across North America. To people who live alone or in senior living communities, the Company provides reassurance and peace of mind with dedicated, well-trained people, advanced technology and a nationwide support structure to achieve service excellence. The Company is committed to affording its subscribers and residents the dignity, privacy and respect to which they are entitled. For more information about Lifeline Systems visit: www.lifelinesys.com.
Safe Harbor Language
This news release may contain forward-looking statements relating to the future performance of Lifeline Systems, Inc. Forward-looking statements, specifically those concerning the Company's anticipated integration of the PROTECT acquisition and its further access to and servicing of the senior living market, are subject to certain risks and uncertainties, and actual results may differ materially from expectations. These risks and uncertainties include the risk that the acquired business will not perform as anticipated, the risk that the integration of the acquired business will require more management and other resources than originally planned, and other risk factors detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K, Forms 10-Q, and other filings and releases.
SOURCE: Lifeline Systems, Inc.
Lifeline Systems, Inc.
Mark Beucler, 508-988-3200
href="mailto:mbeucler@lifelinesys.com">mbeucler@lifelinesys.com
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