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August 2, 2023

Natick medtech firm debuts on New York Stock Exchange

Photo/Grant Welker Allurion co-founder and CEO Shantanu Gaur holds a demo version of the Allurion Gastric Balloon.

Allurion Technologies, a Natick-based medtech company with a weight-loss platform, has gone public, with its first day on the New York Stock Exchange on Wednesday.

Allurion and Delaware-based Compute Health Acquisition Corp. received approval from Compute Health’s shareholder board for a business combination on Monday. At that time, the companies announced they would keep Allurion’s name for public trading on the NYSE under the ticker symbols ALUR and ALUR WS. Compute Health is a publicly traded special purpose acquisition company under the ticker symbol CPUH.

Net proceeds from the transaction total approximately $100 million, according to a Tuesday press release from Allurion. The company will continue to be led by Shantanu Gaur, its co-founder and CEO. Allurion has expanded its board of directors as it becomes a public company.

“Weight management and artificial intelligence are two themes that will shape the next several decades of healthcare, and Allurion is doing pioneering work in both. The world-class syndicate of investors and partners that have backed this transaction puts us in an excellent position to fulfill our mission of ending obesity,” Gaur said in the press release.

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