Vivos Therapeutics Announces Strategic Collaboration in the Middle East-North Africa Region to Support International Expansion
05 10월 2023 - 8:30PM
Vivos Therapeutics, Inc. (the “Company” or “Vivos”)
(NASDAQ:VVOS), a leading medical device and technology
company specializing in the development and commercialization of
highly effective proprietary oral appliances for the treatment of
breathing-related sleep disorders, today announced it has entered
into an exclusive distribution agreement with NOUM DMCC (“Noum”), a
Dubai-based company focused on diagnostic testing and treatment
product distribution for healthcare providers and hospital networks
treating obstructive sleep apnea patients throughout the Middle
East-North Africa (MENA) region.
Since 2020, Noum has been the exclusive
distributor for SleepImage home sleep tests in the MENA region,
complementing Vivos activities as a distributor of SleepImage
diagnostic products in the United States and Canada. Noum has
developed and maintains key strategic relationships and accounts
for diagnostic testing with sleep physicians, sleep centers,
hospitals and other healthcare providers across the MENA
region.
This agreement allows Noum to meet the rapidly
growing demand from their customers for effective treatment options
that are alternatives to CPAP. Under the terms of the agreement,
Noum has been given exclusive distribution rights for Vivos
products and services in Saudi Arabia, United Arab Emirates, Qatar,
Kuwait, Bahrain, Oman, Jordan, Lebanon and Palestine. Noum will
immediately seek regulatory approvals in the various countries for
Vivos medical devices. Noum expects approval times to vary from a
few weeks to several months, depending on the country, but has
already scheduled an initial provider training event on Vivos oral
appliances and technology for early 2024 in Dubai. The parties
expected that Vivos products will eventually be manufactured
locally in the region under a future license agreement currently
being finalized between Vivos and Noum.
Nader Sughair, Chief Executive Officer of Noum,
shared his views on the potential for Vivos products in the Middle
East, “The demand for clinical alternatives to CPAP in the MENA
region has taken off over the past year. As more people are being
tested for breathing and sleep disorders, a greater number are
testing positive, and many cannot or will not tolerate CPAP
therapy. We already have over 40 dentists from our region who are
anxious to be trained and get started with Vivos, and we are
looking forward to a long and mutually beneficial
relationship.”
Kirk Huntsman, Chairman and CEO of Vivos,
stated, “Our expansion into the MENA region represents yet another
important milestone for Vivos. To date we have been more focused on
our domestic expansion opportunities in the United States and been
less focused on international expansion. However, given Noum’s
excellent track record representing SleepImage in the region, we
could not pass up this opportunity as we knew that we now had a
partner with the resources and expertise to support our expansion
into the Middle East region of the globe. We look forward to
supporting Noum in their efforts to train and support doctors
treating breathing and sleep disorder patients using Vivos products
and technology, as well as the revenue opportunities for Vivos from
this collaboration.”
About Vivos Therapeutics,
Inc. Vivos Therapeutics, Inc. (NASDAQ: VVOS)
is a medical technology company focused on developing and
commercializing innovative diagnostic and treatment methods for
patients suffering from breathing and sleep issues arising from
certain dentofacial abnormalities such as mild-to-moderate
obstructive sleep apnea (OSA) and snoring in adults. The Vivos
Method represents the first clinically effective nonsurgical,
noninvasive, nonpharmaceutical and cost-effective solution for
treating mild to moderate OSA. It has proven effective in
approximately 40,000 patients treated worldwide by more than 1,800
trained dentists. The Vivos Method includes the Vivos
Complete Airway Repositioning and/or Expansion (CARE) appliance
therapy and associated protocols that alter the size, shape and
position of the soft tissues that comprise a patient’s upper airway
and/or palate. The Vivos Method opens airway space and may
significantly reduce symptoms and conditions associated with
mild-to-moderate OSA, such as lowering Apnea Hypopnea Index scores.
Vivos also markets and distributes SleepImage diagnostic technology
under its VivoScore program for home sleep testing in adults and
children. The Vivos Integrated Practice (VIP) program offers
dentists training and other value-added services in connection with
using The Vivos Method. For more information, visit
www.vivos.com. Cautionary Note
Regarding Forward-Looking Statements This
press release referred to herein, and statements of the Company’s
management made in connection therewith contain “forward-looking
statements” (as defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events, particularly with
respect to the public offering described herein. Words such as
“may”, “should”, “expects”, “projects,” “intends”, “plans”,
“believes”, “anticipates”, “hopes”, “estimates”, “goal” and
variations of such words and similar expressions are intended to
identify forward-looking statements. These statements involve
significant known and unknown risks and are based upon several
assumptions and estimates, which are inherently subject to
significant uncertainties and contingencies, many of which are
beyond Vivos’ control. Actual results (including, without
limitation, the impact of the Company’s distribution agreement with
Noum as described herein on the Company’s future revenues and
results of operations) may differ materially from those expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not
limited to: (i) the risk that Noum may be unable to secure
applicable regulatory approvals for Vivos’ products in the MENA
region; (ii) the risk that Noum may be unable to generate
commercial sales of Vivos’ products in the MENA region; (iii) the
risk that Vivos may be unable to implement revenue, sales and
marketing strategies that increase revenues, (iv) risks associated
with regulatory scrutiny of and adverse publicity in the sleep
apnea treatment sector; (v) the risk that Vivos may be unable to
secure additional financings on reasonable terms when needed, if at
all and (vi) other risk factors described in Vivos’ filings with
the Securities and Exchange Commission (“SEC”). Vivos’ filings can
be obtained free of charge on the SEC’s website at www.sec.gov.
Except to the extent required by law, Vivos expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in Vivos’ expectations with respect thereto or
any change in events, conditions, or circumstances on which any
statement is based.
Vivos Investor Relations
Contact: Julie Gannon Investor Relations
Officer 720-442-8113 jgannon@vivoslife.com
Vivos Therapeutics (NASDAQ:VVOS)
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Vivos Therapeutics (NASDAQ:VVOS)
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