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:6/24/2016)... 24, 2016  Arkis BioSciences, a leading innovator ... more durable cerebrospinal fluid treatments, today announced it ... funding is led by Innova Memphis, followed by ... private investors.  Arkis, new financing will accelerate the ... market release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Dialysis Devices Global Market - Forecast to 2022" report ... is the treatment method for the patients with kidney failure, ... and excess fluid from the patient,s blood and thus the ... sodium, potassium and chloride in balance. Increasing ...
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer care, and ... in the eye of the beholder, according to experts who offered insights and commentary ... of Managed Care. For the full issue, click here . , For the ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the largest ... as the Medical Director of its new Mesquite-Samuell Farm facility. , “We are ... Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published ... unfamiliar with. The article goes on to state that individuals are now more comfortable ... less common operations such as calf and cheek reduction. The Los Angeles area medical ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that ... chosen by their peers for this recognition are considered among the top 2 percent ... special honors as members of this year’s Legal Elite Hall of Fame: Miami ...
Breaking Medicine News(10 mins):