Boston Scientific today announced it completed the acquisition of Apollo Endosurgery. The acquisition was announced in November and had an enterprise value of approximately $615 million. Apollo Endosurgery’s product portfolio includes devices used during endoluminal surgery (ELS) procedures. The ELS procedures close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss. ELS procedures are […]
Apollo Endosurgery
Boston Scientific to acquire Apollo Endosurgery for more than $600M
Boston Scientific (NYSE:BSX) today announced it entered a definitive agreement to acquire Apollo Endosurgery (NSDQ:APEN) for more than $600 million. The Marlborough, Massachusetts-based company will acquire the endoluminal surgical device maker for a cash price of $10 per share. The price reflects an enterprise value of approximately $615 million. Apollo Endosurgery’s product portfolio includes devices […]
DTW #45: Kamen talks 3D organs; Todd Pope returns as CEO; Joe Mulling says medtech’s time is now
Please lift this jam-packed episode with your legs, not your back. We’ll hear inspirational words from the legendary Dean Kamen who is shifting his life’s focus into medtech. WellAir’s Todd Pope takes the CEO seat at a new company built to tackle hospital-acquired-infections and COVID Joe Mullings of the Mullings Group explains why now is […]
J&J, Boston Sci vet McKhann to become Apollo Endosurgery’s CEO
Apollo Endosurgery (NSDQ:APEN) announced today that Charles (Chas) McKhann will become its new CEO and join its board of directors. Current CEO Todd Newton will help facilitate the transition process and agreed to serve as a consultant to the company for up to six months following McKhann’s hire, which becomes effective on March 1, according to […]
Apollo Endosurgery lands $20m in debt placement
Apollo Endosurgery (NSDQ:APEN) said yesterday that it closed a private debt placement worth $20 million. The debt pays 6.0% annually and can be converted to APEN shares at $3.25 apiece, with Austin, Texas-based Apollo able to force the conversion of the unsecured debentures. Apollo said it plans to use the proceeds for working capital and general […]
Apollo Endosurgery beats on Q2 sales, misses on earnings
Apollo Endosurgery (NSDQ:APEN) reported second-quarter results yesterday that beat analysts’ expectations for sales but missed on earnings. The Austin, Texas-based company reported a net loss of -$8.8 million, or -40¢ per share, on sales of $14.3 million for the three months ended June 30. Analysts on Wall Street were looking for losses per share of […]
Intersect ENT lures Hologic’s West for CEO | Personnel Moves, June 28, 2019
Intersect ENT (NSDQ:XENT) yesterday named Hologic (NSDQ:HOLX) executive Tom West to be its new president & CEO effective July 22. West, who has been president of Hologic’s diagnostics solutions division since October 2014, is a Johnson & Johnson (NYSE:JNJ) veteran, Menlo Park, Calif.-based Intersect ENT said. The company in May tapped lead director Kieran Gallahue to […]
Apollo Endosurgery updates labeling on intragastric balloon
Apollo Endosurgery (NSDQ:APEN) said today that the FDA has approved its proposed labeling updates for the Orbera intragastric liquid-filled balloon system, which is used to treat obesity. The goal of the labeling updates is to improve patient safety and they will take effect immediately, according to the Austin, Texas-based company. The Orbera system and Reshape […]
Apollo Endosurgery touts results of stomach-stapling study
Apollo Endosurgery (NSDQ:APEN) has reported key data from 1,000 patients who underwent endoscopic gastroplasty using the company’s OverStitch device. Published in the journal Gastrointestinal Endoscopy, the data include a mean total weight loss of 14.8%±8.5% at 18 months. Three months following surgery, the impact on obesity-related comorbidities included the complete remission of: 13 of 17 cases […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
Apollo Endosurgery deals Lap-Band to ReShape Lifesciences for up to $17m
Apollo Endosurgery (NSDQ:APEN) said today that it dealt its Lap-Band gastric banding device to ReShape Lifesciences (NSDQ:RSLS) in return for up to $17 million and ReShape’s intra-gastric balloon, which Apollo plans to eventually discontinue. Austin, Texas-based Apollo said the exchange closed yesterday with $10 million in cash and the balloon from ReShape. Further payments of $2 […]
