ReShape Lifesciences Strengthens Executive Leadership Team with Appointment of Kevin Condrin as Senior Vice President of Commercial

ReShape Lifesciences Inc.

Companies Mentioned:

Primary Exchange: OTCQB
Under the Symbol: RSLS

ReShape Lifesciences Strengthens Executive Leadership Team with Appointment of Kevin Condrin as Senior Vice President of Commercial

Tuesday, June 4, 2019 8:00 AM

SAN CLEMENTE, CA / ACCESSWIRE / June 4, 2019 / ReShape Lifesciences Inc. (OTCQB: RSLS), a developer of minimally invasive medical devices to treat obesity and metabolic diseases, announced today the appointment of Kevin Condrin as Senior Vice President, Commercial, effective immediately. In this role, Kevin will oversee global commercial activities for ReShape Lifesciences™ products in addition to coordinating all marketing, business development and field operations.

"Kevin brings to ReShape important global experience and depth of knowledge in bariatric surgery, product launch and market access as we relaunch the LAP-BAND® System and work to maximize this commercial opportunity," said Bart Bandy, President and Chief Executive Officer of ReShape Lifesciences. "His tenure in the market and well-established relationships will be invaluable as we build the ReShape business both in the U.S and abroad, and we are thrilled to have an executive of his caliber join our team in this important new position."

Mr. Condrin has a strong track record of success in the global medical technology industry, building out commercial capabilities, leading marketing and sales teams, and cultivating strong thought-leader relationships across multiple specialties. His 25 years of healthcare experience include commercial and marketing roles with Circon ACMI (now Olympus Gyrus ACMI), Karl Storz Endoscopy, Medtronic, and most recently he served as Vice President in charge of Global Marketing and Business Development for USGI Medical, a private company developing technologies for endoluminal weight loss.

"I am very excited to join ReShape and look forward to leading the commercial efforts with our current products in the bariatrics market as well as the exciting technologies in clinical studies. This is a highly underserved market with many patients that need real data and options to help improve their quality of life," said Mr. Condrin. "Having worked closely with the Lap-Band team during its initial growth period during my time at Karl Storz, I am excited for the opportunity to bring the technology back to the attention of people seeking minimally invasive, non-anatomy altering solutions for weight loss."

About ReShape Lifesciences Inc.

ReShape Lifesciences™ is a medical device company focused on technologies to treat obesity and metabolic diseases. The FDA-approved Lap-Band® Adjustable Gastric Banding System is designed to provide minimally invasive long-term treatment of severe obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The ReShape Vest™ System is an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery, and is intended to enable rapid weight loss in obese and morbidly obese patients without permanently changing patient anatomy.

Forward-Looking Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. These forward-looking statements are based on the current expectations of our management and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others: risks and uncertainties related to our acquisition of the Lap-Band system, including the risk of default under our security agreement with Apollo Endosurgery entered into in connection with the transaction; the risk of default under our secured subordinated convertible debentures due June 28, 2019 that we issued in March 2019; our ability to continue as a going concern if we are unable to improve our operating results or obtain additional financing; risks related to ownership of our securities as a result of our delisting from the Nasdaq Capital Market; our proposed ReShape Vest product may not be successfully developed and commercialized; our limited history of operations; our losses since inception and for the foreseeable future; our limited commercial sales experience; the competitive industry in which we operate; our dependence on third parties to initiate and perform our clinical trials; the need to obtain regulatory approval for our ReShape Vest and any modifications to our vBloc system and Lap-Band system; physician adoption of our products; our ability to obtain third party coding, coverage or payment levels; ongoing regulatory compliance; our dependence on third party manufacturers and suppliers; the successful development of our sales and marketing capabilities; our ability to raise additional capital when needed; international commercialization and operation; our ability to attract and retain management and other personnel and to manage our growth effectively; potential product liability claims; the cost and management time of operating a public company; potential healthcare fraud and abuse claims; healthcare legislative reform; and our ability to obtain and maintain intellectual property protection for our technology and products. These and additional risks and uncertainties are described more fully in the Company's filings with the Securities and Exchange Commission, particularly those factors identified as "risk factors" in our annual report on Form 10-K filed May 16, 2019 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.

CONTACT:

Investor Contact:

Scott Youngstrom
Chief Financial Officer
ReShape Lifesciences Inc.
949-429-6680 x106
[email protected]
or
Debbie Kaster
Investor Relations
Gilmartin Group
415-937-5403
[email protected]

SOURCE: ReShape Lifesciences


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