Natick-based weight loss tech company to go public
Photo/Grant Welker
Allurion co-founder and CEO Shantanu Gaur holds a demo version of the Allurion Gastric Balloon.
Allurion Technologies, Inc., the Natick-based creator of the Allurion Gastric Balloon, will become a publicly traded company, through a deal with Compute Health Acquisition Corp. of Delaware.
When the deal is complete, Allurion will trade on the New York Stock Exchange under the symbol ALUR, according to a Thursday press release from the weigh-loss technology company.
Allurion Co-founder Shantanu Guar, who was named to the WBJ Power 50 in 2020, will remain as CEO of the company.
The company’s primary product is the Allurion Program. It uses the company’s gastric balloon, which is swallowed and then inflated inside patients’ stomachs, in order to control the portions in their diet. The balloon passes naturally through the body and eliminates the need for gastric-bypass surgery. The Allurion Program combines this technology with an AI-powered virtual care suite to help patients change their behavior.
“This transaction is an important milestone for the Company. Allurion is just beginning its mission to end obesity around the world. With over 100,000 patients treated and counting, we have our sights set on touching the lives of the two billion people globally who are overweight,” Guar said in the press release.
The company has grown rapidly, recording a rise in revenue from $20 million in 2020 to $64 million in 2022.
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