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QUOTED. Dec. 21, 2018. Todd Newton.

Executive Summary

ReShape Lifesciences has acquired the Lap-Band adjustable gastric band surgery system from Apollo Endosurgery in exchange for $17m and the ReShape Balloon intra-gastric bariatric product line. See what Apollo CEO Todd Newton said about the deal here.

"Our surgical product line has served an important purpose for us, but it is no longer a strategic fit with our focus on our Endo-bariatric products and therapies. We also remain very bullish on the potential of the intragastric balloon market. We believe it is in the best interest of Apollo’s customers and shareholders that we direct our attention exclusively to the growth opportunities being afforded to us from these products." –Todd Newton, CEO, Apollo Endosurgery Inc.

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