Navigation Links
Apollo Endosurgery Completes Acquisition of Allergan Inc.'s Obesity Intervention Division
Date:12/2/2013

AUSTIN, Texas, Dec. 2, 2013 /PRNewswire/ -- Apollo Endosurgery, Inc., a leading developer of medical devices for endoscopic surgical procedures, today announced the completion of the acquisition of the obesity intervention division of Allergan, Inc., which manufactures and sells weight loss solutions comprised of the LAP-BAND® adjustable gastric banding system and the ORBERA™ intra-gastric balloon system.

"With worldwide obesity numbers reaching epidemic levels, the acquisition of the LAP-BAND® and ORBERA™ technologies places Apollo Endosurgery in a leadership position to provide surgeons and patients with innovative and less invasive solutions in the fight against obesity," said Dennis McWilliams, President and CEO of Apollo Endosurgery. "By expanding both our product portfolio and adding talent to our team, this acquisition will be a catalyst for growth as we continue to advance technologies in the fields of bariatric and minimally invasive surgery."

About the Acquisition
Apollo announced the acquisition on October 29, 2013, for a purchase price of up to $110 million. This total includes an upfront cash payment of $75 million, a minority equity interest in Apollo by Allergan of $15 million, and up to $20 million in additional contingent consideration to be paid upon achievement of certain regulatory and sales milestones.  

Piper Jaffray & Co. served as exclusive financial advisor and Cooley LLP served as legal counsel to Apollo Endosurgery in connection with the transaction. Current Apollo investors PTV Sciences, H.I.G. BioVentures, Remeditex Ventures, Novo A/S and CPMG, Inc. provided the equity financing of the acquisition. Debt financing was led by Oxford Finance LLC, who was joined by MidCap Financial, LLC and EastWest Financial Services.

About Apollo Endosurgery, Inc.
Apollo Endosurgery, Inc. is dedicated to revolutionizing patient care through the adoption of less invasive bariatric and endoscopic surgical solutions. Apollo Endosurgery was cofounded with the Apollo Group, a unique collaboration of physicians from the Mayo Clinic, Johns Hopkins University, Medical University of South Carolina, the University of Texas Medical Branch and the Chinese University of Hong Kong. This collaboration developed a broad portfolio of patents in the field of endoscopic surgery that became the foundation of Apollo Endosurgery. For more information regarding Apollo Endosurgery, go to www.apolloendo.com.

Apollo Endosurgery, LAP-BAND, and ORBERA are trademarks of Apollo Endosurgery, Inc.


'/>"/>
SOURCE Apollo Endosurgery, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. MidCap Financial Acquired by an Entity Managed by Apollo Global Management
2. Apollo Endosurgery Announces Acquisition of Obesity Intervention Division from Allergan, Inc.
3. Apollo Medical Holdings Reports Record Fiscal 2014 Second Quarter Results
4. Orange County Hospital System, Integrated Healthcare Holdings, Joins ApolloMed ACO
5. Apollo Medical Holdings Announces Record Fiscal Year-End Results
6. Smt. Sheila Dikshit Unveils South Asias First PET SUITE at Indraprastha Apollo Hospitals
7. Apollo Hospitals Perform Revolutionary Minimally Invasive Knee Replacement (Resurfacement) Surgery
8. Apollo Hospitals to Establish the First Proton Therapy Center for Cancer Treatment to Serve Over 3.5 Billion People
9. Apollo Telemedicine Service Launched in Yangon
10. ApolloMed ACO Selected To Participate In A Transformative New Initiative Sponsored by the Centers for Medicare and Medicaid Services
11. Lorus Therapeutics Completes New Executive Management Team
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... , Mar. 24, 2017 Research ... Management in the U.S.: Consumer Strategies" report to their ... ... how adults approach and treat their physical pain, emphasizing consumer ... distinct groups: pain sufferers and adults who have selected illnesses/conditions ...
(Date:3/24/2017)... SHANGHAI , March 24, 2017 /PRNewswire/ ... organization providing high-quality and cost-effective drug development ... the pharmaceutical and biotechnology industry, announced today ... ShangPharma will be consolidating the ... Organizations (CMO) under Shanghai ChemPartner. These entities ...
(Date:3/24/2017)... -- Research and Markets has announced the addition of the ... their offering. ... pipeline is very strong with a total of 97 drug candidates. Pharma ... Sanofi are involved in the development of the IPF therapeutics. The IPF ... III stage, 15 are in Phase II stage, 12 are in Phase ...
Breaking Medicine Technology:
(Date:3/24/2017)... ... March 24, 2017 , ... Empower Brokerage, located in Southlake, ... leads programs. , In February, 2017, Empower Brokerage introduced their new “Performance Partners” ... designed to teach how to maximize their sales efforts, as well as how ...
(Date:3/24/2017)... ... March 24, 2017 , ... “Vintage and Harvest A Cultivation of ... college Bible teacher residing in North Carolina with his wife, Anna Marie. He and ... with six grandchildren. David is also the author of “Shadow and Substance.” , “Love, ...
(Date:3/23/2017)... ... March 23, 2017 , ... A recent report from the National Council ... programs. The NCTQ report suggests, based on a review of GPA and SAT/ACT requirements ... quality in the U.S. It argues that this higher bar should be set by ...
(Date:3/23/2017)... ... March 23, 2017 , ... ... Center at 10 North Broadway Avenue, will be an educational and exciting program ... instruction in the management of chronic pain. , Oklahoma is in a healthcare ...
(Date:3/23/2017)... (PRWEB) , ... March 23, ... ... and financial services firm serving the families and businesses of the Norwalk ... enrichment program. Northern Ohio Recovery Center (N.O.R.A.) is a nonprofit, community-based substance ...
Breaking Medicine News(10 mins):