ReShape Lifesciences® Signs Distribution Agreement in Canada With Liaison Medical for its Next-Generation Lap-Band® 2.0 FLEX
Rhea-AI Summary
ReShape Lifesciences (Nasdaq: RSLS) has signed a distribution agreement with Liaison Medical for its next-generation Lap-Band® 2.0 FLEX in Canada, following Health Canada's approval in November 2024. This enhanced weight loss device features innovative FLEX technology that acts as a relief valve when patients swallow large food pieces, potentially eliminating the need for in-office band adjustments.
Paul F. Hickey, ReShape's CEO, noted that initial surgeon feedback from the U.S. market release has been "overwhelmingly positive." Denis Langevin, CEO of Liaison Medical, expressed excitement about the partnership, highlighting his company's position as one of Canada's largest surgical device distributors with established relationships with bariatric surgeons. Langevin believes the improved features of the Lap-Band® 2.0 FLEX will serve as a "growth catalyst" for ReShape Lifesciences.
Positive
- New Canadian distribution agreement for next-generation Lap-Band® 2.0 FLEX
- Health Canada approval received in November 2024
- Partnership with one of Canada's largest surgical device distributors
- Initial U.S. surgeon feedback described as "overwhelmingly positive"
- FLEX technology eliminates need for in-office band adjustments
- Expected to meaningfully add to Lap-Band® franchise sales
Negative
- Financial terms of the distribution agreement not disclosed
- Timeline for Canadian market launch not specified
- No specific revenue projections provided
News Market Reaction – RSLS
In the trading session that priced this news, RSLS declined 15.44%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Liaison Medical is Among the Largest Surgical Device Distributors in Canada
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
