EnteroMedics (ETRM) CEO Gladney Sends Out Shareholder Letter; Highlights vBloc Therapy Expansion

October 11, 2016 8:10 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

EnteroMedics Inc. (Nasdaq: ETRM) highlighted the Company's recent achievements in a letter to shareholders, ahead of the Company's anticipated special meeting of shareholders to be held October 19, 2016.

Dear Shareholders:

As I reflect on my first year as Chief Executive Officer of EnteroMedics, I am pleased with the progress we've made as a company and now, more than ever, believe we have taken significant steps toward expanding the availability of vBloc Therapy to a large and growing number of those living with a disease which has become one of the greatest threats to public health in modern history: obesity.

Last week, on October 5, 2016, we announced perhaps our most significant victory towards achieving this goal. Through a national contract with our distribution partner, Academy Medical, LLC, we announced that vBloc Therapy is now available to all U.S. veterans at VA medical facilities. This means that the over one million obese U.S. Veterans may receive vBloc Therapy at any VA medical facility at little to no cost in accordance with their Veterans' health benefits.

It is an honor to be able to provide this revolutionary, effective option to the morbidly obese men and women who have so valiantly and selflessly served our country. We look forward to working closely with the VA and Academy Medical to train VA surgeons so they are prepared to offer vBloc Therapy and begin performing implants as soon as possible. In parallel, our aggressive efforts to obtain broad reimbursement coverage for vBloc Therapy continue, as we believe all patients deserve access to every option that may help in their battle against obesity.

Supporting this effort, vBloc Therapy is backed by a strong and extensive body of research, including recently announced 24-month results from our pivotal ReCharge Study, published this past August in Obesity Surgery. These results confirm the durable nature of the weight loss achieved with vBloc Therapy, as well as the positive impact it had on patients' obesity-related comorbidities. As importantly, in studies, vBloc Therapy has demonstrated a far better safety profile than other bariatric procedures, a factor that not only impacts patient quality of life, but reduces the overall cost of therapy by reducing the need for costly intervention.

While this research further validates our confidence in vBloc Therapy, perhaps most inspiring is the growing number of first-hand patient success stories we've had the privilege of learning about and sharing with you. Speaking to patients whose lives have been drastically improved through this groundbreaking therapy only strengthens our commitment to delivering vBloc Therapy to as many patients as possible.

EnteroMedics has scheduled an important Special Meeting of Shareholders for Wednesday, October 19, 2016. If you were a shareholder of record at the close of business on September 14, 2016, you are entitled to vote at the Special Meeting. Your proxy support and vote is essential to achieving our goals and furthering our success.

As not only the president and CEO of EnteroMedics, but also a fellow shareholder, I urge you to exercise your right to vote your shares. A reminder proxy was mailed out to unvoted shareholders last week. Please take prompt action to vote your EnteroMedics shares, preferably by internet or telephone, by following the voting instructions included with our proxy materials.

If you have not yet voted or misplaced your Proxy and need assistance with voting your shares, please contact The Proxy Advisory Group LLC, which is assisting us, either by telephone: 212-616-2180 or email: info@proxyadvisory.net.

We thank you for your proxy support and look forward to sharing our future successes with you.


Dan W. Gladney

President and Chief Executive Officer

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Management Comments

Add Your Comment