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Investing.com -- Allurion Technologies Inc (NYSE:ALUR) stock rose 2.9% following the announcement of a strategic distribution partnership with Minogue Medical (TASE:BLWV) Inc., a Canadian medical device company specializing in bariatric and obesity care.
The partnership will leverage Minogue Medical’s 40-year experience in the Canadian market and extensive network of dietitians, bariatric surgeons, and endoscopic specialists to expand Allurion’s presence in Canada. Minogue Medical has established itself as a trusted name in bringing advanced technologies into clinical practice through rigorous vetting and training processes.
Through this collaboration, Allurion aims to increase access to its weight loss program, particularly in combination with GLP-1 therapy to enhance both short and long-term results. The company is focused on what it calls "metabolically healthy weight loss," an approach centered on losing weight, maintaining muscle, and keeping the weight off.
"This agreement with Minogue Medical reflects our commitment to find partners globally who believe in our approach to obesity care," said Dr. Shantanu Gaur, Founder and CEO of Allurion. "We are looking forward to working with Minogue to develop the Canadian market and establish a new standard of care in the treatment of obesity."
Danny Minogue, CEO of Minogue Medical, emphasized the alignment between the two companies: "We select partners who share our vision for ethical, patient-centered care. Allurion’s commitment to clinical rigor complements our approach, and together, we intend to set a new benchmark in Canadian weight management."
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