Apollo Endosurgery announced Tuesday that it will purchase Allergan's obesity intervention division, which includes the Lap-Band adjustable gastric band system and the Orbera intra-gastric balloon system, for between $90 million and $110 million, depending on regulatory and sales milestones.

The devices "will complement Apollo's portfolio" by adding "less invasive bariatric product offerings while expanding [its] domestic sales channel and increasing [its] global reach into more than 40 countries," Apollo President and CEO Dennis McWilliams said in a press release.

The Lap-Band is a minimally invasive laparoscopic device that requires no cutting, stapling or amputation of the stomach. It has FDA approval and broad insurance coverage. Orbera is a non-surgical alternative that's approved for sale in over 40 countries outside the United States.

Jim Burger