Apollo And ReShape Swap Bariatric Devices

19 Dec 2018

Apollo Endosurgery sold its surgical product line, including the Lap-Band adjustable gastric banding system and other accessories for laparoscopic bariatric surgery, to ReShape Lifesciences for $17m plus other considerations, including the ReShape endoscopic balloon, the companies announced Dec. 18. The deal will allow Apollo to focus on endo-bariatric procedures while it gives ReShape an instant revenue stream and another product to sell to surgeons, its core customers.

3d render illustration of human digestive system - front view

ReShape Lifesciences Inc. has acquired the Lap-Band adjustable gastric band surgery system from Apollo Endosurgery Inc. in exchange for $17m and the ReShape Balloon intra-gastric bariatric product line, the companies announced Dec. 18.

In addition to the product-swap, ReShape has agreed to pay Apollo $17m, including $10m paid at closing and $7m to...