What Aspire Bariatrics does

Aspire Bariatrics, Inc. was a privately held U.S. medical device company headquartered in King of Prussia, Pennsylvania, founded in 2004 by Moshe Shike, Stephen Solomon, and Samuel Klein. The company developed and commercialized the AspireAssist, a minimally invasive, reversible weight loss device that received FDA premarket approval (PMA) in June 2016. The technology used a surgically placed tube (A-Tube) connected to an external drainage system, enabling patients to aspirate a portion of stomach contents approximately 20-30 minutes after meals as an adjunct to lifestyle and dietary counseling. The mechanism was positioned as an alternative to traditional bariatric surgery for obese patients who sought a non-surgical or reversible intervention.

The AspireAssist was the first FDA-approved device for weight loss via mechanical aspiration, and the company emphasized its safety and effectiveness profile remained consistent with the original PMA throughout the product's commercial life. Distribution was conducted exclusively through physicians and bariatric surgeons, with supplies distributed in interstate commerce subject to the company's PMA. The company employed between 11 and 50 people, led by CEO Kathy Crothall and EVP Sales & Marketing Audrey Finkelstein, with additional leadership in health policy/reimbursement (Toni Harp Bala) and sales (Paul Gallo).

Aspire Bariatrics raised approximately $25.2M across four disclosed funding rounds between 2014 and 2017, with investors including growX ventures, Hercules Capital, and Reservoir Investment Managers. Despite regulatory approval and a differentiated product concept, the company wound down all operations and withdrew the AspireAssist from the market effective April 8, 2022, citing the financial impact of the COVID-19 pandemic. The closure was explicitly attributed to economic factors rather than safety or effectiveness concerns, and the company is no longer operational.

Name

Aspire Bariatrics

Legal name

Aspire Bariatrics, Inc.

Website

https://aspirebariatrics.com

Company type

Private

Founded year

2004

Operating status

Closed

Headcount range

11–50 employees

Short description

Aspire Bariatrics was a U.S. medical device company that developed the AspireAssist, an FDA-approved (June 2016) aspiration-based weight loss device for obese patients seeking a reversible, minimally invasive alternative to bariatric surgery. The company ceased operations effective April 8, 2022, citing COVID-19 financial impact.

Ownership category

akta.pro rank

Product category

Bariatric Medical Devices

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842)

akta.pro primary industry

Obesity Medicine & Weight Management (HLAKADAL)

Keywords

• Bariatric medical devices
• Weight loss devices
• Minimally invasive surgery
• Obesity treatment devices
• Gastric aspiration systems

Headquarters

HQ city

King Of Prussia

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Supply Chain

Core offering

Aspire Bariatrics developed, manufactured, and marketed the AspireAssist, a minimally invasive, reversible weight loss medical device that used an externally accessible tube to allow patients to aspirate (drain) a portion of stomach contents after meals. The product received FDA premarket approval in June 2016 and was used in conjunction with lifestyle counseling as a bariatric weight management intervention. The company ceased operations and withdrew the product from the market effective April 8, 2022.

Product overview

Aspire Bariatrics offered a single core product—the AspireAssist weight management device—supported by the A-Tube component. The company wound down all operations and withdrew the AspireAssist from the market effective April 8, 2022, due to COVID-19 financial impact. The company is no longer operational.

Differentiator

Problem solved

Functional benefit

Brands

• AspireAssist: FDA-approved weight loss device for bariatric patients.

Products and services

• AspireAssist FDA-approved (PMA, June 2016) weight loss medical device that uses a tube-based aspiration system to mechanically remove stomach contents after meals, supporting weight management in conjunction with lifestyle and dietary counseling. Withdrawn from the market effective April 8, 2022.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Recent moves7 records

Direct peers

• Allurion Technologies: Developer of the Allurion Balloon, a swallowable, non-surgical intragastric balloon for weight loss. Most direct comparable to AspireAssist as a minimally invasive, device-based obesity intervention targeting patients seeking alternatives to bariatric surgery.
• ReShape Lifesciences: Developed the ReShape intragastric balloon and Lap-Band adjustable gastric banding system — directly comparable bariatric devices targeting the same obese-patient segment via minimally invasive mechanisms.
• Obalon Therapeutics: Maker of the Obalon swallowable gas-filled intragastric balloon system for weight loss. Closely analogous minimally invasive, device-based obesity platform and notably also wound down U.S. operations, making it a strong outcome-comparable peer.
• GI Dynamics: Developed EndoBarrier, an endoscopically delivered duodenal-jejunal bypass liner for metabolic disease and obesity. Highly comparable minimally invasive metabolic device company; similarly faced commercial and regulatory headwinds.

Broad incumbents

• Apollo Endosurgery (acquired by Boston Scientific): Maker of the ORBERA intragastric balloon and OverStitch endoscopic suturing system — overlapping minimally invasive and endoscopic obesity device portfolio. Now part of Boston Scientific, providing broader commercial reach.
• Ethicon (Johnson & Johnson): Major surgical bariatric franchise through Ethicon Endo-Surgery, including stapling and energy devices used in bariatric surgery. Broad incumbent in the same surgical bariatric space, though not focused on aspiration-based devices.
• Medtronic: Global medtech incumbent with significant metabolic and bariatric surgery exposure, including surgical stapling and hernia products used in obesity procedures. Competes broadly for the same hospital bariatric procedure volume.
• Novo Nordisk: Maker of Wegovy (semaglutide) and Saxenda (liraglutide), the dominant GLP-1 obesity pharmacotherapies. Not a device competitor but the defining alternative treatment paradigm competing for the same obese-patient demand pool.
• Eli Lilly: Maker of Zepbound (tirzepatide) and Mounjaro, the leading next-generation GLP-1/GIP obesity therapies. Sets the standard-of-care benchmark against which any re-launched AspireAssist would need to position.

Emerging players

• Spatz FGIA: Developer of the Spatz3 adjustable intragastric balloon, a niche minimally invasive obesity device. Comparable mechanism of action (endoscopic gastric intervention) and similar patient population, though at smaller commercial scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/aspireassist
• Facebookfacebook.com/aspirebariatrics
• LinkedInlinkedin.com/company/aspire-bariatrics

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aspire Bariatrics