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» The American Institute of Gastric Banding Appoints Jonathan Wecker As CEO and Announces Follow-on Investment By Sankaty Advisors
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The American Institute of Gastric Banding Appoints Jonathan Wecker As CEO and Announces Follow-on Investment By Sankaty Advisors

The American Institute of Gastric Banding (AIGB) today announced that Jonathan Wecker has been named Chief Executive Officer, effective immediately. In conjunction with this appointment, the company announced that Sankaty Advisors, an affiliate of Bain Capital and AIGB's primary lender and equity holder, has agreed to invest additional capital to fund planned growth initiatives.

The American Institute of Gastric Banding develops and operates medical centers and partners with physicians who specialize in the Lap-Band® gastric banding procedure, in which a small, belt-like device is placed around the top of a patient's stomach, reducing hunger as well as the capacity for caloric intake. Gastric banding has proved over the past fifteen years to be an extraordinarily safe and effective method of surgical weight loss, and has resulted in dramatic health improvement for over 300,000 obese patients around the world. Banding is a minimally-invasive laparoscopic procedure that typically takes less than 40 minutes in an outpatient surgery setting. Many of AIGB's employees have been 'banded' themselves and have dedicated their careers to bringing the life-changing benefits of the procedure to others.

AIGB's partner physicians have performed over 11,000 Lap-Band® placements since the procedure's approval by the FDA in 2001 without a single mortality. AIGB owns a majority interest in and manages state-of-the-art ambulatory surgery centers in Dallas, Fort Worth, Houston and San Antonio; operates patient care centers in each of those cities as well as in Austin, Atlanta and Phoenix; will soon open a center in Chicago; and is actively pursuing a number of additional locations.

Wecker commented, "I am extremely pleased to join AIGB, and I am looking forward to helping its partner physicians and patient care staff expand their leadership position in this fast growing field. The Lap-Band® procedure, and the extensive pre- and post-op care management practices that AIGB has pioneered, are part of the solution to the obesity epidemic and to rising healthcare costs in the United States."

Wecker added that he has asked Peter Gottlieb, a co-founder of AIGB and its CEO from 2003 to 2006, to serve another term on the Board of Directors and to act as a special advisor to the company. "Peter's deep knowledge of the Company, the gastric banding procedure, and the many people involved in making the patient experience a successful one, will be invaluable to us going forward."

AIGB's National Medical Director, Professor Paul O'Brien, MD, a world-leader in Lap-Band® clinical practice and research, and one of the original surgeons involved in the design of Allergan's Lap-Band®, welcomed Wecker to the Company. "I am proud to be involved with AIGB's growth and look forward to working with Jonathan, our physician partners and clinical staff in extending our excellence in patient care to many patients in need. The accelerated adoption of this extraordinary procedure in the U.S. is very exciting."

Prior to joining AIGB, Wecker spent seven years managing healthcare investments for Sankaty Advisors. His most recent experience was as a senior executive of CoalTek, a venture-backed clean energy technology company. Prior to Sankaty, Wecker worked for The Boston Consulting Group, a Boston-based strategy consulting firm, and Salomon Brothers, an investment bank, in New York and Sydney. He received a B.A. in Economics from Cornell University and an M.B.A. from Harvard Business School.

About AIGB

The American Institute of Gastric Banding (www.aigb.com) and True Results™ (www.trueresults.com) together form an industry-leading group of physicians, healthcare professionals, aftercare specialists, surgical centers and support resources dedicated to the comprehensive treatment and care of the LAP-BAND® surgery patient. AIGB has partnered with many of the most experienced surgeons in the United States and continues to partner actively with new physicians and surgical facilities in both existing and new markets.

About Sankaty Advisors

Sankaty Advisors, LLC, an affiliate of Bain Capital, is one of the nation's leading private alternative asset managers. With approximately $23 billion of committed capital, Sankaty invests across the capital structures of a wide variety of public and private companies. Founded in 1998, Sankaty's investments include leveraged loans, high-yield bonds, distressed securities, mezzanine debt, convertible bonds, structured credit products and public and private equities.

Source: Business Wire

About True Results:

The American Institute of Gastric Banding is an industry-leading network of health care professionals specializing in the treatment and care of overweight and obese individuals. True Results' physicians, health care professionals, surgical centers, and support resources are dedicated to the LAP-BAND patient. True Results specializes in the LAP-BAND System procedure and is widely recognized as the number one provider of the procedure in the world. True Results also provides a comprehensive, multi-discipline aftercare program to ensure the success of the bariatric patient. In addition to the Surgery Center of Richardson, True Results currently has specialty surgery centers in Fort Worth, Houston, and the San Antonio/Austin area. True Results surgeons have performed more than 7,000 procedures, ensuring seasoned professionals with the experience to handle most every patient's need. For additional information on True Results and weight loss, please call 1-800-324-2694.

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