ReShape announces heacount reduction, progress toward agreement completions

ReShape Lifesciences (RSLS) announced strategic headcount reduction and provided an update on the merger agreement with Vyome Therapeutics and asset purchase agreement with Biorad Medisys. “While we remain confident that the GLP-1 receptor agonists like Ozempic and Zepbound will have a very positive long-term impact on the broader obesity treatment landscape and that our marketing campaign will stabilize and ultimately accelerate the adoption of the Lap-Band system and Lap-Band 2.0 FLEX, we conducted a thorough review of our operating structure and made the difficult, but necessary, decision to reduce our workforce,” said Paul Hickey, CEO. “This action, which will generate annualized savings of over $750,000, representing approximately 23% of our wage expenses, positions us to operate more efficiently while preserving our core capabilities. Importantly, our sales and marketing team remains fully intact. With this experienced team in place, we will continue to promote and generate qualified patient leads through targeted digital marketing campaigns on social media platforms. Additionally, we will focus on our international expansion efforts in Canada, via our distribution agreement with Liaison Medical, to launch the enhanced Lap-Band 2.0 FLEX. Excitingly, we are progressing towards finalizing the merger agreement with Vyome Therapeutics and the asset sale to Biorad Medisys. A special shareholder meeting to vote on these strategic transactions is scheduled for July 24, 2025. Our Board of Directors has unanimously endorsed this transformative opportunity, which we believe will unlock meaningful long-term value for shareholders and serve as a catalyst for accelerated growth in the combined company.”