-- Partnership with American Healthcare Lending Offers Loans to Cover
Costs of LAP-BAND® System Procedure and Aftercare --
AUSTIN, Texas--(BUSINESS WIRE)--
Apollo Endosurgery, Inc., a leader in minimally invasive endoscopic
surgical products for bariatric and gastrointestinal procedures, today
announced the company has partnered with American Healthcare Lending to
offer affordable financing for the LAP-BAND® System to increase patient
access to the weight loss solution. The patient financing service is
part of Apollo Endosurgery’s ongoing efforts to provide physicians and
patients with high quality services and support beyond the LAP-BAND®
procedure. The LAP-BAND® System is FDA approved for weight reduction for
people with a body mass index (BMI) of at least 40 kg/m2 and
is the only FDA approved device for weight reduction for people with a
BMI of 30 kg/m2 or greater and one or more weight-related
“There are millions of people struggling to lose 30 or more pounds on
their own who are eligible for the LAP-BAND® System but do not qualify
for healthcare insurance coverage for weight loss treatments due to
their BMI,” said Dennis McWilliams, President and Chief Commercial
Officer of Apollo Endosurgery. “Weight loss with the LAP-BAND® System is
about more than just a procedure. This is why we are working with
innovative companies, like American Healthcare Lending, to provide the
best services and support to our physicians and patients throughout the
weight loss journey.”
“Studies show that obese patients spend significantly more money on
healthcare costs each year than non-obese patients as well as have an
increased chance of developing other conditions, like diabetes and heart
disease, that can impact their quality of life,” said Vafa Shayani, MD,
FACS, FASMBS, Chairman of Surgery, Medical Director of Bariatric Surgery
at Adventist Bolingbrook Hospital and Vice President of the Illinois
Association of Bariatric Surgeons. “Patients with a lower BMI are often
not covered for any weight loss treatment options, despite the health
and economic benefits. By investing in their health with the LAP-BAND®
System, patients have the opportunity to finally achieve their weight
loss goals, allowing them to live a healthier life by avoiding potential
health concerns as well as reduce their healthcare costs associated with
The Apollo Endosurgery and American Healthcare Lending partnership was
designed to offer a financing service that is beneficial to both
physicians and patients. American Healthcare Lending has assisted over
300,000 individuals in obtaining over $5 billion in loans. In
partnership with Apollo Endosurgery, American Healthcare Lending is now
offering patients low monthly payment plans to cover the cost of
LAP-BAND® System procedures and aftercare, including deductibles,
self-pays, and co-pays. Patients can be pre-qualified for a loan in two
minutes or less by visiting www.lapband.com
Once a patient is pre-qualified for a loan through American Healthcare
Lending, the program also provides assistance in finding a physician
offering the procedure that is engaged with the financing service.
Physicians who are enrolled in the LAP-BAND® financing program benefit
by having only one low annual fee of $2,990, regardless of how many of
their patients utilize the financing service, rather than paying a
merchant fee of up to 8% per loan, which is standard with other
About Apollo Endosurgery, Inc.
Apollo Endosurgery, Inc. is a leader in minimally invasive endoscopic
surgical products for bariatric and gastrointestinal procedures. Apollo
Endosurgery was cofounded with the Apollo Group, a unique collaboration
of physicians from the Mayo Clinic, Johns Hopkins University, Medical
University of South Carolina, the University of Texas Medical Branch and
the Chinese University of Hong Kong. This collaboration developed a
broad portfolio of patents in the field of endoscopic surgery that
became the foundation of Apollo Endosurgery. For more information
regarding Apollo Endosurgery, go to: www.apolloendo.com
and follow us @Apollo_Endo.
APOLLO ENDOSURGERY and LAP-BAND are worldwide trademarks or registered
trademarks of Apollo Endosurgery, Inc.
About LAP-BAND® System
In a LAGB procedure, a band is placed around the upper part of the
stomach. As the band inflates, it shrinks the size of the stomach. This
helps individuals reduce the amount of food intake and slows emptying
into the lower stomach. This helps individuals feel full sooner, stay
full longer and reduce hunger urge.
The LAP-BAND® System was acquired in late 2013 by Apollo Endosurgery,
Inc. of Austin, Texas, from Allergan, Inc.
Warnings: The LAP-BAND® System is a long-term implant. Explant and
replacement surgery may be required. Patients who become pregnant or
severely ill or who require more extensive nutrition may require
deflation of their bands. Adverse Events: Placement of the LAP-BAND
System is major surgery and, as with any surgery, death can occur.
Possible complications include the risks associated with the medications
and methods used during surgery, the risks associated with any surgical
procedures, and the patient’s ability to tolerate a foreign object
implanted in the body. Band slippage, erosion and deflation, reflux,
obstruction of the stomach, dilation of the esophagus, infection, or
nausea and vomiting may occur. Reoperation may be required. Rapid weight
loss may result in complications that may require additional surgery.
Deflation of the band may require additional surgery. Deflation of the
band may alleviate excessively rapid weight loss or esophageal dilation.
For Apollo Endosurgery, Inc.
Kelly France, 415-946-1076 (w)
Source: Apollo Endosurgery, Inc.