BarioSurg, along with its Gastric Vest System, has been acquired by EnteroMedics for $2 million in cash, 1.38 million unregistered shares of EnteroMedics common stock and 1 million unregistered shares of convertible preferred stock. As part of the transaction, BarioSurg founder and former CEO Raj Nihalani, who invented the Gastric Vest technology, has been tapped to serve as chief technology officer at EnteroMedics.
EnteroMedics buys maker of Gastric Vest System
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