United States

EnteroMedics announces acquisition of Reshape Medical

Tuesday, 3 Oct 2017 08:30am EDT 

Oct 3 (Reuters) - EnteroMedics Inc :EnteroMedics announces acquisition of Reshape Medical.EnteroMedics Inc - ‍consideration paid for Reshape Medical consists of 2.4 million shares of common stock, 187,772 shares of series C convertible preferred stock​.EnteroMedics Inc - Dan Gladney will continue as president, ceo and chairman of board of EnteroMedics .EnteroMedics Inc - consideration paid for reshape also includes approximately $5.0 million in cash​.EnteroMedics Inc - ‍Michael Y. Mashaal has joined board effective of closing of acquisition and 1 Reshape Medical designee will be added at later date​.