Obalon Announces Consulting Agreement As Part of Strategy To Seek Coverage and Reimbursement for The Obalon Balloon System
13 Agosto 2020 - 1:00PM
Obalon Therapeutics, Inc. (Nasdaq: OBLN), a weight loss solutions
company with the first and only FDA-approved swallowable,
gas-filled intragastric balloon system for the treatment of
obesity, today announced that it has executed a consulting
agreement with Blue Ox Healthcare Partners, LLC, a private equity
firm focused on commercial-ready companies bringing technology
enabled innovation to healthcare, especially those involved in
precision health, healthcare delivery, and affordability.
The agreement calls for Blue Ox to provide consulting services
to Obalon, including helping Obalon to develop and implement an
effective coverage and reimbursement-based go-to-market strategy.
Activities will include an evaluation of the current clinical
evidence of the Obalon Balloon System, consideration of health
economic studies to define cost of care reductions for patients
with diabetes and hypertension resulting from its use, and
assessments and readying of strategies for successful
commercialization with managed care companies and risk-based
providers.
Charles Kennedy, MD, Managing Partner and CEO of Blue Ox,
commented, “The clinical literature shows that weight loss can
result in diabetes remission in correctly selected patient
populations. The Obalon weight loss solution has completed
sufficient clinical trials to prove safety and effectiveness. We
are excited to work with Obalon to help combat obesity and diabetes
and show health plans and value-based providers the patient
outcomes and economic gains that can result.”
Obalon continued to reiterate that obtaining reimbursement is
never certain and can take many years to achieve, and if achieved,
may not be determinative of the Company’s success. If initial
efforts with payers begin to bear success, Obalon would expect to
need to raise additional capital to support those efforts.
About Obalon Therapeutics, Inc.
Obalon Therapeutics, Inc. (Nasdaq: OBLN) is a San Diego-based
company focused on developing and commercializing novel
technologies for weight loss. For more information, please
visit http://www.obalon.com.
About Blue Ox Healthcare Partners, LLC
Blue Ox Healthcare Partners, LLC is a private equity firm
focused on commercial-ready companies bringing technology enabled
innovation to healthcare, especially those involved in precision
health, healthcare delivery, and affordability. For more
information, please visit www.blueoxhcp.com.
Cautionary Statement Regarding Forward Looking
Statements
This press release contains forward-looking statements that are
not purely historical regarding Obalon’s or its management’s
intentions, beliefs, expectations and strategies for the future,
including those related to new products and their potential
benefits. All forward-looking statements and reasons why results
might differ included in this press release are made as of the date
of this release, based on information currently available to
Obalon, deal with future events, are subject to various risks and
uncertainties, and actual results could differ materially from
those anticipated in those forward looking statements. The risks
and uncertainties that may cause actual results to differ
materially from Obalon’s current expectations are more fully
described in Obalon’s annual report on Form 10-K for the period
ended December 31, 2019, periodic report on Form 10-Q for the
period ended June 30, 2020 and its other reports, each as filed
with the Securities and Exchange Commission. Except as required by
law, Obalon assumes no obligation to update any such
forward-looking statement after the date of this report or to
conform these forward-looking statements to actual results.
For Obalon Therapeutics, Inc.
Investor Contact:
Andrew Rasdal
President and Chief Executive Officer
Obalon Therapeutics, Inc.
Office: +1 844 362 2566
arasdal@obalon.com
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