Here’s what you should know:
1. Apollo will discontinue the intragastric balloon, in favor of its own Orbera balloon device.
2. ReShape paid $10 million to close the transactions Dec. 17. ReShape is expected to make future payments on Dec. 17, 2019 and Dec. 17, 2020.
3. ReShape will manufacture the Lap-Band device for up to two years.
4. ReShape Chairman and CEO Dan Gladney said, “The acquisition of the Lap-Band product line adds a clinically proven, FDA-approved, minimally invasive technology with broad insurance coverage and meaningful established revenue and margins to ReShape Lifesciences.”
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