ReShape Lifesciences signs distribution agreement with Liaison Medical for Lap-Band® 2.0 FLEX in Canada following Health Canada approval.
Quiver AI Summary
ReShape Lifesciences has announced a distribution agreement with Liaison Medical for their enhanced Lap-Band® 2.0 FLEX and Tubing Kit in Canada, following the product's approval by Health Canada in November 2024. This agreement reflects ReShape's commitment to expanding access to their innovative weight loss solutions. The Lap-Band® 2.0 FLEX features new technology that allows it to alleviate discomfort without the need for in-office adjustments, receiving positive feedback from U.S. surgeons during limited market releases. Liaison Medical, one of Canada’s largest surgical device distributors, aims to leverage its relationships with bariatric surgeons to promote the product's adoption, believing it will drive significant sales growth for the Lap-Band® franchise.
Potential Positives
- Signing of a distribution agreement with Liaison Medical for the Lap-Band® 2.0 FLEX in Canada expands ReShape Lifesciences' market reach and potential customer base.
- The approval of the Lap-Band® 2.0 FLEX by Health Canada indicates regulatory acceptance and supports the product's credibility in the Canadian market.
- Positive initial feedback from U.S. surgeons regarding the Lap-Band® 2.0 FLEX suggests strong demand and possible successful adoption among Canadian medical professionals.
- Partnership with Liaison Medical, a large surgical device distributor in Canada, positions ReShape Lifesciences favorably for effective market penetration and sales growth in the region.
Potential Negatives
- The announcement of the distribution agreement comes after a limited market release in the U.S., suggesting that the product may not yet have a proven track record for success in a broader market.
- The press release includes forward-looking statements that highlight potential risks and uncertainties regarding future sales growth, which may create apprehension among investors.
- The need for in-office band adjustments, as indicated by the statement regarding previous discomfort, may raise concerns about the overall effectiveness and user experience of the Lap-Band® 2.0 FLEX.
FAQ
What is the Lap-Band® 2.0 FLEX?
The Lap-Band® 2.0 FLEX is an enhanced weight loss device designed to improve patient experience by alleviating discomfort during eating.
Which company has signed the distribution agreement for Lap-Band® 2.0 FLEX in Canada?
Liaison Medical has signed the distribution agreement to distribute ReShape's Lap-Band® 2.0 FLEX in Canada.
When was the Lap-Band® 2.0 FLEX approved by Health Canada?
The Lap-Band® 2.0 FLEX was approved by Health Canada in November 2024.
How does the Lap-Band® 2.0 FLEX improve the patient experience?
The Flex technology acts as a relief valve, reducing discomfort and eliminating the need for frequent in-office adjustments.
What is ReShape Lifesciences’ expertise?
ReShape Lifesciences specializes in weight loss and metabolic health solutions, offering minimally invasive treatments for obesity.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
IRVINE, Calif., Feb. 25, 2025 (GLOBE NEWSWIRE) --
ReShape Lifesciences
®
(Nasdaq: RSLS),
the premier physician-led weight loss and metabolic health solutions company, today announced that it has signed a distribution agreement with Liaison Medical for distribution of ReShape’s next generation, enhanced Lap-Band
®
2.0 FLEX and Tubing Kit, in Canada.
“The signing of this distribution agreement in Canada, on the heels of the November 2024 approval by Health Canada for the Lap-Band
®
2.0 FLEX, is a testament to our commitment to broadly launching this important product to improve the patient experience,” stated Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences. “Initial surgeon feedback from our limited market release of the Lap-Band
®
2.0 FLEX in the U.S. was overwhelmingly positive. The new FLEX technology, which acts as a relief valve to alleviate discomfort from swallowing large pieces of food, can eliminate the need for in-office band adjustments as the band momentarily relaxes before returning to its resting diameter. We look forward to working closely with Liaison Medical on the launch of the Lap-Band 2.0 FLEX in Canada which we believe, over time, will meaningfully add to the sales of the Lap-Band
®
franchise.”
“We are excited to partner with ReShape Lifesciences and add the Lap-Band
®
2.0 FLEX to our portfolio of innovative surgical devices,” added Denis Langevin, President and Chief Executive Officer of Liaison Medical. “Based on our extensive experience and deep relationships with hospitals, we have become one of the largest surgical device distributors in Canada. As a result, we already know the bariatric surgeons and believe, based on the improved features of the Lap-Band
®
2.0 FLEX, that this device will be a growth catalyst for the Company.”
About Liaison Medical
Liaison Medical, founded in 2012 and based in Montreal Canada is a medical distributor specializing in the delivery of innovative surgical devices to hospitals. Based upon their extensive experience, the company is the liaison between Manufacturers and hospitals for the Operation Room and Endoscopy departments. Liaison Medical’s mission is to provide exclusive products to customers and growth to its suppliers and is uniquely positioned to deliver expert strategies through proven processes and methodologies.
About ReShape Lifesciences
®
ReShape Lifesciences
®
is America’s premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band
®
System provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system utilizes a proprietary vagus nerve block and stimulation technology platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon
®
balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit
www.reshapelifesciences.com
.
Forward-Looking Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. Forward-looking statements in this press release include statements about the company’s expected commercial launch of the Lap-Band
®
2.0 FLEX in Canada and related expected sales growth. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as "risk factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.
CONTACTS
ReShape Lifesciences Investor Contact:
Paul F. Hickey
President and Chief Executive Officer
949-276-7223
ir@ReShapeLifesci.com
Investor Relations Contact:
Rx Communications Group
Michael Miller
(917)-633-6086
mmiller@rxir.com
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