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ReShape Lifesciences Announces Distribution in Australia

ReShape Lifesciences™, a developer of minimally invasive medical devices to treat obesity and metabolic diseases, announces that as of April 1, 2019, the company was selling its LAP-BAND® product in the Australian market through a relationship with Satori Healthcare. Satori Healthcare is a medical device distributor focused on the Australian bariatric market.

The founder of Satori Healthcare has over 20 years of experience in the medical device industry, including 6 years of direct responsibility for LAP-BAND while it was owned by Allergan and Apollo Endosurgery respectively. Concurrent with this relationship, ReShape Lifesciences has fully taken over all distribution of the LAP-BAND product in Australia from Apollo Endosurgery, Inc. and will subsequently be recognizing revenue from sales of the product in Australia.

Over 120,000 LAP-BAND procedures have taken place in Australia since the product was launched in the country, making Australia one of the largest worldwide markets for LAP-BAND outside of the U.S. Australia was one of the early adopters of the LAP-BAND technology and has produced some of the strongest data and research on the product. According to the OECD 2017 Obesity Update, based on self-reported data, 27.9% of the Australian adult population are obese, the fifth highest obesity rate of any developed country.

About ReShape Lifesciences Inc

ReShape Lifesciences™ (OTCQB: RSLS) 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 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. It is intended to enable rapid weight loss in obese and morbidly obese patients without permanently changing patient anatomy.

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