EnteroMedics Inc (NASDAQ:ETRM) has announced that it has made its vBloc Neurometabolic therapy available to the US veterans. In order to avail the treatment, the patients can contact the Department of Veteran Affairs, at their medical facilities. The company noted that this was made possible through its partnership with Academy Medical, LLC; a small business owned by veterans that distributes medical products to the Department of Defense facilities. Added to this, Academy Medical also added vBloc to its 5-year sole source agreement, with the Department of Veteran Affairs.
The director of Bariatric Surgery at VA North Texas, Sachin Kukreja, stated that the VA surgeons would now have access to an effective and safe treatment for obesity. He pointed out that his center was already making use of the treatment and look forward to expanding it to patients who do not wish to undergo anatomy altering surgeries. The CEO of EnteroMedics, Dan Gladney, claimed that over one million veterans suffer from obesity and they deserve to have access to every option available to them, in their battle against the condition. He announced that ETRM was prepared to train VA surgeons to make use of vBloc therapy and perform implants on an urgent basis.
The vBloc therapy requires a minimally invasive procedure, to plant a small device, under the skin, so as to control the sensation of hunger. This tends to make the patients feel full and hence it can result in meaningful weight loss for the patients. The key selling point for this therapy is the fact that patients can have the device removed anytime or have it adjusted as per their requirements, as opposed to conventional surgeries that can leave permanent anatomical damage.
Approximately 2-weeks ago, the company underwent a change in management, with the appointment of Dan Gladney as the new CEO of ETRM. However, his appointment does not become effective until October 14, 2016. Mr. Gladney would be replacing Dr. Mark Knudson, who is also its co-founder. Dr. Knudson would continue as a special advisor to the CEO and would also oversee the scientific activities of the company.
EnteroMedics Inc (NASDAQ:ETRM) lost 6.61% of its share value, during the October 7 trading session, to close at $0.122 per share.
