Dan Gladney, the CEO of EnteroMedics Inc (NASDAQ:ETRM) said that as he analysis his first calendar year as CEO and President of company, he is extremely delighted with the progress he has made expanding the accessibility of vBloc Therapy. It is the best in class regimen for promoting lasting weight loss to folks fighting with obesity.
Obesity is a leading reason of preventable chronic disease and enhancing healthcare expense in the U.S. As EnteroMedics begin to analysis 2017, he is delighted to have the opportunity to provide an update on the recent commercialization measures.
Commenting on commercialization efforts, Gladney said that probably the most considerable milestone EnteroMedics accomplished this year was making vBloc accessible to the millions of veterans in the U.S., who have served the country being the members of the military. It was accomplished via an expanded association with Academy Medical, an approved service disabled veteran held small business. Through this extended association vBloc Therapy was included to Academy Medical’s 5 years’ sole source deal with the U.S. Department of Veteran Affairs.
It indicates that any veteran who entitles can get vBloc Therapy at almost no cost as per health advantages at VA medical or Department of Veteran Affairs facility. It is quite identical to a national coverage verdict by a private financier. There are more than 20 million veterans with more than 1 million that need vBloc Therapy and seeking obesity regimen at VA facilities across the U.S.
This expanded association with Academy Medical together with their other associations with institutions that encompass their staff and families like Winthrop University in NY turns vBloc Therapy more willingly available to an extended U.S. adult population. Moreover, EnteroMedics has successfully validated that vBloc Therapy is an alternative for those who have previously faced failed gastric sleeve surgery.
In the last trading session, the stock price of declined over 8% to close at $0.0500.