ReShape Lifesciences Announces Distribution in Australia
SAN CLEMENTE, CA / ACCESSWIRE, Apr 18, 2019 - (ACN Newswire) - ReShape Lifesciences Inc ️, a developer of minimally invasive medical devices to treat obesity and metabolic diseases, announces that as of April 1, 2019, the company is selling its LAP-BAND® product in the Australian market through a relationship with Satori Healthcare. Satori Healthcare is a medical device distributor focused on the Australian bariatric market.
The founder of Satori Healthcare has over 20 years of experience in the medical device industry, including 6 years of direct responsibility for LAP-BAND?️ while it was owned by Allergan and Apollo Endosurgery respectively. Concurrent with this relationship, ReShape Lifesciences?️ has fully taken over all distribution of the LAP-BAND product in Australia from Apollo Endosurgery, Inc. and will subsequently be recognizing revenue from sales of the product in Australia.
Over 120,000 LAP-BAND procedures have taken place in Australia since the product was launched in the country, making Australia one of the largest worldwide markets for LAP-BAND outside of the U.S. Australia was one of the early adopters of the LAP-BAND technology and has produced some of the strongest data and research on the product. According to the OECD 2017 Obesity Update, based on self-reported data, 27.9% of the Australian adult population are obese, the fifth highest obesity rate of any developed country.
About ReShape Lifesciences Inc?️
ReShape Lifesciences (OTCQB: RSLS) is a medical device company focused on technologies to treat obesity and metabolic diseases. The FDA-approved LAP-BAND?️ Adjustable Gastric Banding System is designed to provide minimally invasive long-term treatment of severe obesity and is an alternative to more invasive surgical stapling procedures such as gastric bypass or sleeve gastrectomy. The ReShape Vest?️ System is an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery. It is intended to enable rapid weight loss in obese and morbidly obese patients without permanently changing patient anatomy.
Investor Contact:
Scott Youngstrom
Chief Financial Officer
ReShape Lifesciences Inc.
+1-949-429-6680 x106
syoungstrom@reshapelifesci.com
This press release contains Forward-Looking Statements within the meaning of the Private Securities Litigation Reform Act of 1995. These Forward-Looking Statements are based on the current expectations of our management and involve known and unknown risks and uncertainties that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Statements. These are described more fully in the Company's filings with the SEC, particularly factors identified as "risk factors" in our annual report on Form 10-K filed April 2, 2018 and subsequent quarterly reports on Form 10-Q.
SOURCE: ReShape Lifesciences Inc.
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