Allurion's Virtual Care Suite Digital Platform Accelerates Commercial Expansion With New Strategic Partnerships

Rhea-AI Summary

Allurion Technologies, Inc. (ALUR) has expanded its Virtual Care Suite (VCS) digital platform with new commercial agreements signed with Lazeo and Transform, two of Europe’s largest aesthetic and weight loss groups. The VCS has shown positive results in increasing patient accountability, practice efficiency, and patient engagement, with clinics reporting an average 11% additional weight loss and over 16% additional patients reaching their goals. This expansion underscores the growing opportunities for the digital platform since launching Coach Iris—Allurion’s 24/7 AI-powered weight loss coach. The VCS now provides 24/7 coaching and guidance to patients across multiple modalities of care, including anti-obesity medications, devices, and bariatric surgery.

Insights

Market Research Analyst

The strategic partnerships between Allurion Technologies and leading European aesthetic and weight loss clinic chains Lazeo and Transform signify a notable expansion within the digital health and weight management industry. These agreements may enhance Allurion's market penetration in Europe, potentially increasing its revenue streams and market share. The adoption of Allurion's Virtual Care Suite (VCS) by major clinics suggests a validation of the platform's effectiveness in increasing patient accountability, efficiency and engagement.

The reported outcomes of using the VCS, such as an average of 11% additional weight loss and over 16% more patients reaching their goals, are metrics that stakeholders can use to gauge the product's impact. These figures are particularly significant as they can be directly correlated with customer satisfaction and retention rates, which are critical factors for the success of Allurion's business model.

Healthcare Technology Analyst

The integration of Allurion's Coach Iris, an AI-powered weight loss coach, into the VCS platform is a noteworthy advancement in healthcare technology. The ability to offer 24/7 coaching and guidance across various treatment modalities is an innovative approach that leverages artificial intelligence to personalize patient care. This could position Allurion as a pioneer in digital therapeutics for weight management, potentially leading to a competitive edge in the healthcare market.

Furthermore, the data-driven insights provided by the VCS can assist healthcare providers in optimizing treatment plans and predicting patient outcomes more accurately. The use of AI in healthcare, especially in a domain as complex as weight management, requires careful monitoring of technological efficacy and patient data privacy, which are critical factors for regulatory compliance and consumer trust.

Financial Analyst

The announcement of Allurion Technologies' expansion through these commercial agreements could be seen as a bullish indicator for its financial performance. By aligning with prominent clinic chains such as Lazeo and Transform, Allurion may benefit from increased scalability and a stronger foothold in the European market. This could lead to a positive outlook on the company's stock, as investors often look for expansion and partnership strategies as signs of growth potential.

It is important to note, however, that the actual financial impact will depend on the terms of the agreements and the adoption rate of the VCS. Investors should consider the costs associated with the expansion and whether the projected revenue from these agreements will justify the investment. Additionally, the long-term success of these partnerships will hinge on the sustained performance and patient outcomes delivered by the VCS platform.

Company inks deals with Lazeo and Transform, two of Europe’s largest aesthetic and weight loss groups

NATICK, Mass.--(BUSINESS WIRE)-- Allurion Technologies, Inc. (NYSE:ALUR), a company dedicated to ending obesity, today announced further expansion of its Virtual Care Suite (VCS) digital platform with new commercial agreements signed with Lazeo, France's largest aesthetic and weight loss clinic chain, and Transform, UK's largest aesthetic and weight loss clinic chain.

After recently expanding its commercial agreement with Weight Doctors®—Germany’s leading group of private clinics and centers for weight loss—Allurion believes that the accelerated expansion of VCS through key partnerships underscores the growing number of opportunities for the digital platform since launching Coach Iris—Allurion’s 24/7 AI-powered weight loss coach—in October 2023.

The Allurion Virtual Care Suite is a comprehensive set of tools designed to power any weight loss practice: in an Allurion study, 87% of providers who use the VCS report increased patient accountability, 88% report increased efficiencies in their practice, and 82% report increased patient engagement. Clinics with the highest VCS usage rate achieve on average 11% additional weight loss, with over 16% additional patients reaching their goals. With the launch of Coach Iris, the VCS now provides 24/7 coaching and guidance to patients across multiple modalities of care, including anti-obesity medications, devices, and bariatric surgery.

In France, Lazeo successfully introduced the VCS to their Allurion Program patients and as part of Nutricare by Lazeo—a dietitian-supervised nutrition program spanning 3, 6 or 12 months, depending on the needs of the patient—to enhance patient engagement, streamline workflow and improve patient outcomes. Bernard Sillam, founder & CEO of Lazeo, expressed enthusiasm about the partnership, stating: "Allurion's Virtual Care Suite has been a game-changer for Lazeo. The integration of VCS has enabled us to introduce innovative nutrition programs with and without the balloon, powered by VCS and Coach Iris, thereby providing our patients with a comprehensive and personalized weight loss journey. Making Allurion’s platform available to our patients is in line with our desire to offer them the latest, most cutting-edge innovations. It is also an opportunity for us to integrate generative artificial intelligence into the world of aesthetic medicine."

In the UK, Transform introduced VCS in order to elevate the experience for their Allurion Program and bariatric surgery patients, demonstrating a commitment to cutting-edge patient care.

Tony Veverka, CEO of Transform Healthcare, highlighted the significance of the collaboration, saying, "Transform is excited to launch the VCS in 2024 as an additional support to our Weight Loss+ programme. This partnership aligns perfectly with our goal of enhancing the experience for our Allurion Program and surgical patients. Making the weight loss journey less complex, easier, with an ever-increasing likelihood of a desired result is at the heart of what we do, and Coach Iris brings an added layer of “always-on” support and advice, ensuring our patients receive personalized care that meets the highest standards."

Coach Iris, Allurion's AI-powered weight loss coach, continues to evolve, offering increasingly comprehensive support across all treatment types. The latest update includes enhanced capabilities tailored for bariatric surgery patients, that the company believes will result in significantly improved responses and support for these patients.

Dr. Shantanu Gaur, Founder and CEO of Allurion, stated, "Our growing partnerships with industry leaders like Lazeo and Transform demonstrate the power and versatility of the Virtual Care Suite. As we continue to improve Coach Iris, we are confident in our ability to scale our VCS business while providing unmatched support to patients and empowering healthcare providers on the frontlines of obesity care."

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 healthcare 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, whether it is 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.

About Lazeo

With over 150 centers in France, Lazeo is the leading provider of aesthetic medicine and laser hair removal. Lazeo uses its know-how, medical expertise and 30 years of experience to put advances in aesthetic medicine at the service of its patients: concrete results without the need for major or invasive surgical procedures.

To find out more: www.lazeo.com

About Transform

Transform is an innovative healthcare business, and the UK’s leading provider of cosmetic surgery, weight loss surgery, general surgery and vision correction. With its own state-of-the-art hospitals, Transform provides unrivalled levels of personalised care and world-class treatments, aligned with delivering results that exceed expectations.

To find out more: https://www.transforminglives.co.uk/

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 Allurion’s expectations for, and market acceptance of, Allurion’s Virtual Care Suite and the Allurion Program in general, and Allurion’s ability to scale its business and in particular for the VCS. 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 regulatory approval for and successfully commercialize the Allurion Program, (ii) the results of clinical data from its studies, (iii) the evolution of the markets in which Allurion competes, (iv) the ability of Allurion to defend its intellectual property and satisfy regulatory requirements, (v) the impact of the COVID-19 pandemic 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 the proxy statement/prospectus contained in Allurion’s Form 10-Q filed on November 14, 2023, the company’s 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/20240117194759/en/

US Media

Brian Ruby

ICR

(203) 682-8268

brian.ruby@icrinc.com

Global Media

Cedric Damour

PR Manager

+33 7 84 21 02 20

cdamour@allurion.com

Investor

Mike Cavanaugh, Investor Relations

ICR Westwicke

(617) 877-9641

mike.cavanaugh@westwicke.com

Source: Allurion Technologies, Inc.

FAQ

What are the new commercial agreements signed by Allurion Technologies, Inc. (ALUR)?

Allurion Technologies, Inc. (ALUR) has signed new commercial agreements with Lazeo, France's largest aesthetic and weight loss clinic chain, and Transform, UK's largest aesthetic and weight loss clinic chain.

What are the reported benefits of using the Virtual Care Suite (VCS)?

The VCS has shown positive results in increasing patient accountability, practice efficiency, and patient engagement, with clinics reporting an average 11% additional weight loss and over 16% additional patients reaching their goals.

What does the VCS now provide to patients?

The VCS now provides 24/7 coaching and guidance to patients across multiple modalities of care, including anti-obesity medications, devices, and bariatric surgery.