Allurion Announces the Appointment of Ojas A. Buch as Chief Operating Officer

Rhea-AI Summary

Allurion Technologies (NYSE: ALUR) has appointed Ojas A. Buch as Chief Operating Officer, effective June 3, 2024. Buch will oversee Research and Development, Manufacturing, Operations, Quality and Regulatory, and Business Development and Innovation functions. He brings 25 years of experience in the healthcare industry, having held leadership roles at GE Healthcare, St Jude Medical (Abbott), CareFusion (Vyaire), Philips, and PENTAX Medical – Americas. His appointment aims to help Allurion achieve significant milestones and scale sustainably. Dr. Shantanu Gaur, Allurion’s Founder and CEO, emphasized Buch's strategic mindset and leadership skills as critical to Allurion's growth and innovation in the weight loss solutions market.

Positive

• Appointment of Ojas A. Buch with 25 years of healthcare industry experience.
• Buch's roles span leading organizations like GE Healthcare and St Jude Medical (Abbott).
• Aim to achieve major milestones and scale sustainably.
• Strategic and execution-focused guidance expected to benefit Allurion.
• Experience with compliance and customer-centric transformation noted.

Negative

• No specific financial or clinical data released to indicate immediate business impact.
• Potentially high expectations placed on new COO could result in pressure.

NATICK, Mass.--(BUSINESS WIRE)-- Allurion Technologies, Inc. (NYSE:ALUR), a company dedicated to ending obesity, today announced the appointment of Ojas A. Buch as its new Chief Operating Officer.

Effective June 3, 2024, Ojas assumed the role of Chief Operating Officer and will lead the company’s Research and Development, Manufacturing and Operations, Quality and Regulatory, and Business Development and Innovation functions. He will also play a crucial role in commercial functions while working closely with the Board and Executive Leadership Team. Ojas will provide strategic and execution-focused guidance aimed to help the company achieve major milestones and scale sustainably.

With a 25-year track record in the healthcare industry, Ojas is a seasoned executive known for his strategic mindset and adaptable tactics. He brings extensive cross-functional expertise and global experience, having led integrated and matrix organizations at GE Healthcare, St Jude Medical (Abbott), CareFusion (Vyaire), Philips and most recently as President, PENTAX Medical – Americas where he drove transformation with a focus on compliance and customer-centricity.

"We are thrilled to welcome Ojas to Allurion as our Chief Operating Officer," said Dr. Shantanu Gaur, Allurion’s Founder and CEO. "His extensive industry experience and proven leadership skills will be instrumental as we continue to innovate and scale our business globally, while ensuring we uphold the highest quality standards as a publicly traded company.”

“I am proud to serve Allurion at this exciting stage of its lifecycle and look forward to working with our team to advance Allurion’s vision to transform the lives of individuals through cutting-edge weight loss solutions,” said Mr. Buch.

About Allurion

Allurion is dedicated to ending obesity. The Allurion Program is a weight loss platform that features the Allurion Gastric Balloon, the world’s first and only swallowable, procedure-less intragastric balloon for weight loss, and offers access to the Allurion Virtual Care Suite including the Allurion Mobile App for consumers, Allurion Insights for health care providers featuring the Coach Iris AI Platform, and the Allurion Connected Scale. 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. The Allurion Gastric Balloon is an investigational device in the United States.

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.

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of the U.S. federal and state securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions and include statements regarding the ability of the Allurion Program, including the VCS, to improve patient and clinical outcomes, including outcome improvements over time, the impact of a behavior change coaching skills course, and the impact of gLP-1s on the Allurion Program. Forward-looking statements are predictions, projections and other statements about future events that reflect the current beliefs and assumptions of Allurion’s management based on information currently available to them and, as a result, are subject to risks and uncertainties. Many factors could cause actual future results or developments to differ materially from the forward-looking statements in this communication, including but not limited to (i) the ability of Allurion to obtain and maintain regulatory approvals for and successfully commercialize the Allurion Program, including the Allurion Balloon and the VCS, (ii) the timing of, and results from, our clinical studies and trials, (iii) the evolution of the markets in which Allurion competes, (iv) the ability of Allurion to defend its intellectual property, (v) the impact of the COVID-19 pandemic, the Russia and Ukraine war, and the Israel-Hamas conflict on Allurion’s business, (vi) Allurion’s expectations regarding its market opportunities, including those for the VCS platform, and (vii) the risk of economic downturns and a changing regulatory landscape in the highly competitive industry in which Allurion operates. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Allurion’s Annual Report on Form 10-K filed on March 26, 2024 (as subsequently amended) and other documents filed by Allurion from time to time with the U.S. Securities and Exchange Commission. 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 they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Allurion assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Allurion does not give any assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605493074/en/

Global Media:

Cedric Damour

PR Manager

+33 7 84 21 02 20

cdamour@allurion.com

Investors:

Mike Cavanaugh, Investor Relations

ICR Westwicke

(617) 877-9641

mike.cavanaugh@westwicke.com

Source: Allurion Technologies, Inc.

FAQ

Who is the new COO of Allurion Technologies?

Ojas A. Buch was appointed as the COO of Allurion Technologies, effective June 3, 2024.

What are the responsibilities of Ojas A. Buch at Allurion Technologies?

Ojas A. Buch will oversee R&D, Manufacturing, Operations, Quality and Regulatory, and Business Development and Innovation functions.

What is the experience background of Allurion's new COO?

Ojas A. Buch has 25 years of experience in the healthcare industry, with leadership roles at GE Healthcare, St Jude Medical (Abbott), CareFusion (Vyaire), Philips, and PENTAX Medical – Americas.

When did Ojas A. Buch assume the role of COO at Allurion Technologies?

Ojas A. Buch assumed the role of COO on June 3, 2024.

What is the stock symbol for Allurion Technologies?

The stock symbol for Allurion Technologies is ALUR.