In 2005, we (as in Swiss national innovation institute, of which Swatch is a shareholder) had developed and were ready to industrialize a watch that could monitor pulse, spo2, kinetics, etc. based on reflective photoplethysmography, accelerometers, gyroscopes, etc.
Revolutionary at the time as at best people had chest belts for pulse back then.
Last minute, the old Hayek, god bless his soul, decided that it was too risky for Swatch group to launch such a Swatch in the US for example as it could face the risk of being sued from say a family of someone elderly who dropped dead while exercising, etc.
Legitimate fear or not, it does not matter, as he killed the go2market.
Back in these days the only competitors would have been small companies like suunto, polar, so he might have had a point.
So, with such background they would be actually legit to launch sthg, although they gave up the IP a long time ago.