King of Prussia ‘Tube-in-your-Tummy’ Weight Loss Company Raises $4.6M

King of Prussia’s Aspire Bariatrics, the developer of unique weight loss system AspireAssist, has raised $4.6 million in a private offering of convertible debt.

Aspire Bariatrics, which helps people lose weight through its unique diet system, has completed a debt financing round that netted the company $4.6 million, writes John George for Philadelphia Business Journal.

The King of Prussia company led by CEO Katherine D. Crothall, is the developer of AspireAssist system, that was approved by the FDA last summer. The system uses a surgically placed tube that allows someone to drain a portion of their stomach content after each meal.

The tube is inserted in a short outpatient procedure using a local anesthetic. Most patients are able to return home within a couple of hours and can go back to work quickly. The tube can also be easily removed in a 10-minute outpatient procedure.

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And while there are no specific foods forbidden with AspireAssist, the company emphasized that people who use the system gradually learn to adopt healthier behaviors with the help of Aspire’s lifestyle counseling program.

“The AspireAssist approach helps provide effective control of calorie absorption, which is a key principle of weight management therapy,” said Dr. William Maisel, deputy director for science at the FDA’s Center for Devices and Radiological Health.

Read more about Aspire Bariatrics at Philadelphia Business Journal by clicking here.

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