ReShape Lifesciences Strengthens Leadership Team with Appointment of Michael Bordainick as Senior Vice President, Commercial Operations

Rhea-AI Summary

ReShape Lifesciences (Nasdaq: RSLS) has appointed Michael Bordainick as Senior Vice President of Commercial Operations, effective January 13, 2022. Bordainick brings two decades of operational and marketing experience, having previously held key roles at Alcon and Kimberly-Clark. His focus will be on enhancing the company’s commercial programs, including direct-to-consumer marketing initiatives for Lap-Band and reshapecare. This appointment aims to accelerate growth and bolster revenue generation strategies amidst rising global health challenges related to obesity.

Positive

• Michael Bordainick's extensive marketing experience could enhance commercial operations.
• Focus on direct-to-consumer marketing may increase product visibility and adoption.
• Bordainick's background in M&A and capital investment can facilitate strategic growth opportunities.

Negative

• Concerns about continuity and integration of Bordainick into the existing team may arise.

Seasoned Executive Brings Significant Operational and Commercial Experience to Accelerate the Company’s Growth

SAN CLEMENTE, Calif., Jan. 13, 2022 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today announced the appointment of Michael Bordainick as its Senior Vice President, Commercial Operations. In this newly created role, as part of the Company’s next phase of operational growth, Mr. Bordainick will be responsible for strengthening the strategic development and executional efficiencies of the sales and marketing teams.

“As Michael brings significant experience and capabilities to advance ReShape’s recently launched commercial programs, including direct-to-consumer marketing and enhanced support for our clinical customers, he will be a great addition to our executive team," stated Bart Bandy, President and Chief Executive Officer of ReShape Lifesciences. “We are confident that his previous successes with direct marketing and sales programs, both in healthcare and consumer product markets will translate meaningfully to our expanding commercial operations. Michael’s appointment reaffirms our ongoing focus and significant commitment to driving increased revenue through the targeted consumer marketing and sales programs behind Lap-Band^®, reshapecare™ and our pipeline projects. Additionally, Michael’s previous success in mergers and acquisitions, capital investment and portfolio development activities will be highly advantageous to our company as we evaluate and pursue various strategic opportunities in those areas.”

“Reshape Lifesciences is well-positioned to address the growing global health and economic challenges associated with obesity. It is an exciting opportunity to represent the company’s portfolio of products and services that are anchored by the FDA-approved and widely reimbursed Lap-Band, the safest bariatric surgery procedure available with documented long-term clinical efficacy,” stated Mr. Bordainick. “Through the combination of the Lap-Band and reshapecare, the reimbursed virtual healthcare service dedicated to weight loss, we have the opportunity to help millions of individuals. I look forward to leading our commercial efforts to engage and educate more people on the benefits of these exceptional products and services.”

Mr. Bordainick has two decades of marketing and sales management experience in leading healthcare and consumer product industries. He joins Reshape from Alcon, where he served as Global Vice President of Marketing, responsible for marketing and sales activities of the company’s $1.8 billion contact lens portfolio. Prior to that, Mr. Bordainick was the Global Marketing Director at Kimberly Clark, where he led the Kleenex, Viva and Scott brands. Earlier in his career, he spent 10 years at Unilever, where he held positions of increasing responsibility within consumer brand management.

Mr. Bordainick holds a Bachelor of Business Administration in International Marketing and Finance from the University of Miami and an MBA from Indiana University’s Kelley School of Business.

About ReShape Lifesciences Inc.
ReShape Lifesciences™ is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band^® Program provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The ReShape Vest™ System is an investigational (outside the U.S.) minimally invasive, laparoscopically implanted medical device that wraps around the stomach, emulating the gastric volume reduction effect of conventional weight-loss surgery. It helps enable rapid weight loss in obese and morbidly obese patients without permanently changing patient anatomy. reshapecare™ is a virtual weight-management program that supports lifestyle changes for all weight-loss patients led by board certified health coaches to help them keep the weight off over time. The recently launched ReShape Marketplace™ is an online collection of quality wellness products curated for all consumers to help them achieve their health goals. For more information, please visit www.reshapelifesciences.com

Forward-Looking Safe Harbor Statement

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. Forward-looking statements in this press release include statements about our expectation that the marketing campaign will help us capitalize on our strong revenue potential. These forward-looking statements are based on the current expectations of our management and involve known and unknown risks and uncertainties that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties are described more fully in the Company's filings with the Securities and Exchange Commission, particularly those factors identified as "risk factors" in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.

CONTACTS:
Company Contact:
Thomas Stankovich
Chief Financial Officer
949-276-6042
ir@ReShapeLifesci.com

Investor Relations Contact:
Rx Communications Group
Michael Miller
(917)-633-6086
mmiller@rxir.com

FAQ

Who is Michael Bordainick, and what will he do at ReShape Lifesciences?

Michael Bordainick is appointed as Senior Vice President of Commercial Operations at ReShape Lifesciences, responsible for strengthening sales and marketing strategies to boost growth.

What experience does Michael Bordainick bring to ReShape Lifesciences?

Bordainick has over 20 years of experience in marketing and sales, previously serving as Global VP of Marketing at Alcon and holding significant roles at Kimberly-Clark and Unilever.

How will Michael Bordainick's appointment affect ReShape Lifesciences' growth?

His appointment is expected to enhance commercial operations, potentially driving increased revenue through targeted marketing strategies for products like Lap-Band.

What are the key responsibilities of Bordainick at ReShape Lifesciences?

Bordainick will focus on strategic development and executional efficiencies in the company's sales and marketing initiatives.