Apollo Endosurgery announces AMA assignment of Category I CPT Codes for use in Intragastric Balloon Procedures
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AUSTIN, TX / ACCESSWIRE / March 8, 2021 / Apollo Endosurgery, Inc. ("Apollo") (NASDAQ: APEN), a global leader in minimally invasive medical devices for gastrointestinal and bariatric procedures, announced the assignment of Category I Current Procedural Terminology (CPT®) codes with short form descriptor esophagogastroduodenoscopy with deployment of gastric bariatric device (e.g., balloon) under endoscopic guidance. The codes and descriptor will be used for procedures that use the OrberaÂ® Intragastric Balloon starting January 1, 2023.
"A number of physician and surgical societies worked collaboratively on this effort. We extend our appreciation to the American Gastroenterological Association (AGA), American Society for Gastrointestinal Endoscopy (ASGE), American College of Gastroenterology (ACG), American Society for Metabolic and Bariatric Surgery (ASMBS), Society of American Gastrointestinal and Endoscopic Surgeons (SAGES), and the American College of Surgeons (ACS) for their continued leadership efforts to advocate on behalf of their members and the patients they serve," said Dr. Christopher Gostout, Chief Medical Officer of Apollo.
"We are pleased by the AMA's decision to create category I CPT codes to identify the intragastric balloon procedure, which represents another milestone for patients seeking treatment for obesity with a BMI between 30-40 kg/m2. The AMA CPT decision is a positive reflection of the significant clinical evidence supporting the OrberaÂ® Intragastric Balloon, with more than 230 peer-reviewed clinical publications and over 300,000 balloons distributed worldwide," said Chas McKhann, CEO of Apollo.
Orbera is an incision-less, non-surgical weight loss solution designed for adult patients suffering from obesity, who are not appropriate for or considering surgery, but for whom diet, and exercise or pharmaceutical interventions have not worked.
In a non-surgical (endoscopic) procedure, the thin and deflated Orbera balloon is placed into the stomach. It is then filled with saline until it's about the size of a grapefruit. The procedure typically takes about 20 minutes and the patient can generally go home a few hours later. After up to 6 months, through another non-surgical procedure, the Orbera balloon is deflated and then removed.
Once the balloon is in place, the patient works with their physician and their staff in a formal lifestyle modification program to meet their long-term weight loss goals. Coaching takes place over 12 months while the balloon is in place. The program is designed to help the patient develop sustainable, healthy habits that will help keep weight off over time.
About Apollo Endosurgery, Inc.
Apollo Endosurgery, Inc. is a medical technology company focused on the development of next-generation, less invasive devices to advance gastrointestinal therapeutic endoscopy designed to treat a variety of gastrointestinal conditions including closure of gastrointestinal defects, managing gastrointestinal complications and the treatment of obesity. Apollo's device-based therapies are an alternative to invasive surgical procedures, thus lowering complication rates and reducing total healthcare costs. Apollo's products are offered in over 75 countries today and include the OverStitch" Endoscopic Suturing System, the OverStitch Sx" Endoscopic Suturing System, the X-TackTM Endoscopic HeliX Tacking System and the Orbera Intragastric Balloon.
Apollo's common stock is traded on NASDAQ Global Market under the symbol "APEN". For more information regarding Apollo Endosurgery, go to: www.apolloendo.com.
Cautionary Note on Forward-Looking Statements
Certain statements in this press release are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. In addition, there is uncertainty about the continued spread of the COVID-19 virus and the impact it may have on the Company's operations, the demand for the Company's products, the Company's liquidity position, global supply chains and economic activity in general. Important factors that could cause actual results to differ materially include: reports of adverse events related to our products, outcomes of clinical studies, developments in medical technology, regulatory approvals and extensive regulatory oversight by the FDA or other regulatory bodies, unfavorable media coverage related to our products or related procedures, coverage and reimbursement decisions by private or government payors, physician adoption and recommendations of procedures utilizing our products as well as other factors detailed in Apollo's periodic reports filed with the Securities and Exchange Commission, or SEC, including its Form 10-K for the year ended December 31, 2020. Copies of reports filed with the SEC are posted on Apollo's website and are available from Apollo without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, Apollo disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
Apollo Endosurgery, Inc.
Stefanie Cavanaugh, 512-279-5100
Darrow Associates Investor Relations
Matt Kreps, 214-597-8200
SOURCE: Apollo Endosurgery, Inc.
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