Irvine-based Allergan Inc. has paid $97 million in cash for a Swiss maker of a device to fight obesity.
The company acquired EndoArt SA, a maker of a stomach band implant that’s adjusted by a remote control.
With the deal, Allergan is looking to build on last year’s $3.2 billion buy of Santa Barbara’s Inamed Corp. Allergan acquired Lap-Band, an adjustable stomach band, through that deal.
Allergan said it doesn’t see the EndoArt acquisition impacting its financial outlook for the year.
EndoArt’s Easyband device is surgically implanted around the upper stomach and can be adjusted using a remote control unit.
The device was approved by the European Commission for use in Europe in 2006. Allergan plans to seek Food and Drug Administration approval after doing U.S. clinical studies.
The company plans to keep EndoArt’s facility in Switzerland as a research hub for treating obesity.
