Serial healthcare entrepreneur Douglas Hudson
appointed to Board of Directors
Tomer Stavitsky joins as VP of Corporate
Development to lead M&A strategy focused on Artificial
Intelligence (AI)
Allurion Technologies, Inc. (“Allurion”), a company dedicated to
ending obesity, is pleased to announce two major additions to the
team. Douglas Hudson has been appointed to the Board of Directors
of Allurion Technologies Holdings, Inc., effective as of the
anticipated consummation of the proposed business combination (the
“Business Combination”) between Allurion and Compute Health
Acquisition Corp. (“Compute Health”) (NYSE: CPUH), and Tomer
Stavitsky has joined as Allurion’s new Vice President of Corporate
Development.
"We are incredibly excited to welcome both Doug and Tomer to
Allurion," says Dr. Shantanu Gaur, Allurion Founder and CEO. "Doug
is an exceptional entrepreneur with deep experience in the
consumerization of healthcare and digital products as both an
operator and board member. Tomer brings a wealth of experience in
healthcare M&A, partnerships and investments, and joins
Allurion as we accelerate the expansion of our weight loss AI
platform."
Most recently, Mr. Hudson founded Tend where he has successfully
leveraged his past experiences to reimagine the dental industry
with a hospitality mindset. Previously, Mr. Hudson founded and led
a range of successful consumer-facing ventures. He served as the
founding CEO of SmileDirectClub and Chairman and CEO of
DiabetesCareClub, CPAPCareClub and HearingPlanet, the latter of
which became the largest online hearing aid distributor in the U.S.
during his tenure.
“I am thrilled to join Allurion at a pivotal moment as it goes
public and expands its reach to consumers all over the world,” says
Mr. Hudson. “I am looking forward to working with my fellow board
members and the company’s management to set a new standard for a
best-in-class weight loss experience.”
As Allurion's new Vice President of Corporate Development, Mr.
Stavitsky will be focused on M&A and partnership strategy,
particularly in AI and digital health. Previously, Mr. Stavitsky
led M&A at Ginkgo Bioworks, and Corporate Development for the
Digital & Data Business Unit at Intuitive Surgical. At
Intuitive Surgical, Mr. Stavitsky evaluated hundreds of deals
spanning AI and machine learning, digital health, telehealth and
data analytics, and executed several key deals, including the
acquisition of Orpheus Medical, which led to the establishment of
Intuitive Surgical’s AI development center in Israel.
Allurion has previously announced that it is going public
pursuant to the Business Combination with Compute Health and is
expected to be listed on the New York Stock Exchange under the
ticker symbol “ALUR” following the completion of the Business
Combination.
About Allurion Allurion is dedicated to ending obesity.
The Allurion Program is a weight loss platform that combines the
Allurion Gastric Balloon, the world’s first and only swallowable,
procedure-less gastric balloon for weight loss, the Allurion
Virtual Care Suite including the Allurion Mobile App for consumers,
Allurion Insights for health care providers featuring the Iris AI
Platform, and the Allurion Connected Scale and Health Tracker
devices. The Allurion Virtual Care Suite is also available to
providers separately from the Allurion Program to help customize,
monitor and manage weight loss therapy for patients regardless of
their treatment plan: gastric balloon, surgical, medical or
nutritional.
For more information about Allurion and the Allurion Virtual
Care Suite, please visit www.allurion.com. Allurion is a trademark
of Allurion Technologies, Inc. in the United States and countries
around the world.
About Compute Health Compute Health (NYSE: CPUH) is a
special purpose acquisition company formed for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. Compute Health is led by the management
team of Omar Ishrak, Jean Nehmé and Joshua Fink. Compute Health’s
strategy is to focus on healthcare businesses that are already
leveraging or have the potential to leverage computational power,
with an emphasis on companies in the medical device space,
including imaging and robotics.
For more information about Compute Health please visit
www.compute-health.com.
Important Information About the Proposed Transaction and
Where to Find It This press release relates to the Business
Combination among Allurion, Compute Health and Allurion
Technologies Holdings, Inc. “Pubco”. Pubco has filed a Registration
Statement on Form S-4 with the Securities and Exchange Commission
(the “SEC”), which includes a document that serves as a proxy
statement and prospectus of Compute Health and Pubco (the “proxy
statement/prospectus”) and a full description of the terms of the
Business Combination. The Registration Statement has been declared
effective by the SEC and the proxy statement/prospectus has been
mailed to Compute Health’s stockholders and warrantholders of
record as of the close of business on July 3, 2023, the record date
established for voting at the Compute Health Special Meeting and
Warrant Holder Meeting relating to the Business Combination.
Compute Health and Pubco may also file other documents regarding
the Business Combination with the SEC. This press release does not
contain all of the information that should be considered concerning
the Business Combination and is not intended to form the basis of
any investment decision or any other decision in respect of the
Business Combination. Compute Health’s stockholders, warrantholders
and other interested persons are advised to read the Registration
Statement and proxy statement/prospectus and any amendments or
supplements thereto, and all other relevant documents filed or that
will be filed in connection with the Business Combination, as
these materials contain (or will contain) important information
about Allurion, Compute Health, Pubco and the Business
Combination. The Registration Statement and the proxy
statement/prospectus and other documents that are filed with the
SEC may be obtained without charge at the SEC’s website at
www.sec.gov, or by directing a written request to Compute Health,
1100 N Market Street 4th Floor, Wilmington, DE 19890.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS
APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS
RELEASE OR PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS
COMBINATION OR ANY RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY
OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY
REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation Compute Health,
Allurion, Pubco, certain stockholders of Compute Health, and
certain of Compute Health’s, Allurion’s and Pubco’s respective
directors, executive officers and other members of management and
employees may, under SEC rules, be deemed to be participants in the
solicitation of proxies from the stockholders and warrantholders of
Compute Health with respect to the Business Combination. A list of
the names of such persons and information regarding their interests
in the Business Combination is contained in the Registration
Statement and proxy statement/prospectus. Stockholders,
warrantholders, potential investors and other interested persons
should read the Registration Statement and proxy
statement/prospectus carefully before making any voting or
investment decisions. Free copies of these documents may be
obtained from the sources indicated above.
Forward-looking Statements This press release contains
certain “forward-looking statements” within the meaning of the
federal U.S. securities laws with respect to Compute Health,
Allurion, Pubco and the Business Combination among them, the
benefits of the Business Combination, the amount of cash the
Business Combination will provide Pubco, the anticipated timing of
the Business Combination, the services and markets of Allurion, the
expectations regarding future growth, results of operations,
performance, future capital and other expenditures, competitive
advantages, business prospects and opportunities, future plans and
intentions, results, level of activities, performance, goals or
achievements or other future events. These forward-looking
statements generally are identified by words such as “anticipate,”
“believe,” “expect,” “may,” “could,” “will,” “potential,” “intend,”
“estimate,” “should,” “plan,” “predict,” or the negative or other
variations of such statements. They reflect the current beliefs and
assumptions of Compute Health’s management and Allurion’s
management and are based on the information currently available to
Compute Health’s management and Allurion’s management.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual results or
developments to differ materially from those expressed or implied
by such forward-looking statements, including but not limited to:
(i) the risk that the Business Combination may not be completed in
a timely manner or at all, which may adversely affect the price of
Compute Health’s securities; (ii) the risk that the Business
Combination may not be completed by Compute Health’s business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by Compute
Health; (iii) the failure to satisfy the conditions to the
consummation of the Business Combination, including, but not
limited to, the approval of the business combination agreement by
the stockholders of Compute Health and the stockholders of
Allurion, the satisfaction of the minimum cash amount and the
receipt of certain governmental and regulatory approvals; (iv)
changes to the proposed structure of the Business Combination that
may be required, or considered appropriate, as a result of
applicable laws or regulations; (v) the occurrence of any event,
change or other circumstance that could give rise to the
termination of the business combination agreement; (vi) the ability
to complete the contemplated PIPE investment, the senior secured
term loan, the committed equity facility and the RTW Investments
synthetic royalty financing in connection with the Business
Combination; (vii) Pubco’s ability to acquire sufficient sources of
funding if and when needed; (viii) the effect of the announcement
or pendency of the Business Combination on Allurion’s business
relationships, operating results and business generally; (ix) risks
that the Business Combination disrupts current plans and operations
of Allurion; (x) the ability of Pubco to implement business plans,
forecasts and other expectations after the completion of the
Business Combination, and identify and realize additional
opportunities; (xi) significant risks, assumptions, estimates and
uncertainties related to the projected financial information with
respect to Allurion; (xii) the outcome of any legal proceedings
that may be instituted against Allurion, Pubco or Compute Health
following the announcement of the business combination agreement or
the Business Combination; (xiii) Allurion’s ability to
commercialize current and future products and services and create
sufficient demand among health care providers and patients; (xiv)
Allurion’s ability to successfully complete current and future
preclinical studies and clinical trials of the Allurion Balloon and
any other future product candidates; (xv) Allurion’s ability to
obtain market acceptance of the Allurion Balloon as safe and
effective; (xvi) Allurion’s ability to cost-effectively sell
existing and future products through existing distribution
arrangements with distributors and/or successfully adopt a direct
sales force as part of a hybrid sales model that includes both
distributors and a direct sales effort; (xvii) Allurion’s ability
to obtain regulatory approval or clearance in the U.S. and certain
non-U.S. jurisdictions for current and future products and maintain
previously obtained approvals and/or clearances in those
jurisdictions where Allurion’s products and services are currently
offered; (xviii) Allurion’s ability to accurately forecast customer
demand and manufacture sufficient quantities of product that
patients and health care providers request; (xix) Allurion’s
ability to successfully compete in the highly competitive and
rapidly changing regulated industries in which Allurion operates,
and effectively address changes in such industries, including
changes in competitors’ products and services and changes in the
laws and regulations that affect Allurion; (xx) Allurion’s ability
to successfully manage future growth and any future international
expansion of Allurion’s business and navigate the risks associated
with doing business internationally; (xxi) Allurion’s ability to
obtain and maintain intellectual property protection for its
products and technologies and acquire or license intellectual
property from third parties; (xxii) the ability of Pubco to retain
key executives; (xxiii) the ability to obtain and maintain the
listing of Pubco’s securities on a national securities exchange;
(xxiv) Allurion’s ability to properly train physicians in the use
of the Allurion Gastric Balloon and other services it offers in its
practices; (xxv) the risk of downturns in the market and Allurion’s
industry including, but not limited to, as a result of the COVID-19
pandemic; (xxvi) fees, costs and expenses related to the Business
Combination; (xxvii) the risk that the parties to the Medtronic
collaboration agreement will not achieve the expected benefits,
incremental revenue and opportunities from such arrangement;
(xxviii) the failure to realize anticipated benefits of the
Business Combination or to realize estimated pro forma results and
underlying assumptions, including with respect to estimated
redemptions by Compute Health’s public stockholders; and (xxix)
sanctions against Russia, reductions in consumer confidence,
heightened inflation, production disruptions in Europe, cyber
disruptions or attacks, higher natural gas costs, higher
manufacturing costs and higher supply chain costs. The foregoing
list of factors is not exclusive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of Compute Health’s Annual Report on
Form 10-K for the year ended December 31, 2022 and the proxy
statement/prospectus contained in the Registration Statement
(333-271862), and other documents filed by Compute Health and Pubco
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date on which they are made, and none of Allurion, Pubco
or Compute Health assume any obligation to update or revise any
forward-looking statements or other information contained herein,
whether as a result of new information, future events or otherwise.
You are cautioned not to put undue reliance on these
forward-looking statements. None of Compute Health, Allurion or
Pubco gives any assurance that Compute Health or Allurion, or
Pubco, will achieve its expectations.
Non-solicitation This press release and the information
contained herein is not a proxy statement/prospectus or
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the potential business combination
or any other matter and shall not constitute an offer to sell or a
solicitation of an offer to buy the securities of Compute Health,
Allurion, or Pubco, or a solicitation of any vote or approval, nor
shall there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended, or an exemption therefrom.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230725467362/en/
Media Contact Erik Milster emilster@seriesmpr.com
Investor Contact Mike Cavanaugh, Investor Relations ICR
Westwicke (617) 877-9641 mike.cavanaugh@westwicke.com
Compute Health Acquisition (NYSE:CPUH)
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Compute Health Acquisition (NYSE:CPUH)
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