Vivos markets an FDA-cleared device that has been shown effective in the potentially permanent resolution of Obstructive Sleep Apnea (OSA)
Denver, CO / PRLive / June 06, 2017 / Vivos BioTechnologies, Inc. (Vivos) has signed a Letter of Intent to merge with Secure Point Technologies (Secure Point) in a reverse-merger as part of Secure Point's plan to emerge from Chapter 11 bankruptcy. The Vivos-Secure Point reverse merger will be included in the Secure Point Plan of Reorganization that has been filed with the Bankruptcy Court. Vivos' management is excited about the opportunity to merge with Secure Point because this transaction provides Vivos a clear pathway to becoming a publicly traded company and an infusion of cash of approximately $7 million, according to documents filed with the Bankruptcy Court, to provide working capital to the combined entity. Vivos' management believes that its shareholders, which will own 64% of the merged company, will significantly benefit from the merger, as will the existing shareholders of Secure Point as compared with a simple liquidation of that company.
Vivos owns a proprietary, patented technology for non-surgical enhancement of a person's upper airway to resolve the serious medical condition known as sleep apnea. The Vivos DNA Appliance System has been effective in the resolution of Obstructive Sleep Apnea (OSA) and other sleep and breathing disorders in both children and adults. Sleep apnea is typically treated with a Continuous Positive Airway Pressure device or CPAP, which is thought to be the most effective treatment, though it is not a cure. However, patients frequently stop using the device after a short period of use, thus leaving themselves vulnerable to the medical complications from OSA. Patients who successfully complete the 12-24 month Vivos treatment may no longer require CPAP or Mandibular Advancement (oral devices worn while sleeping over a lifetime). The FDA-cleared Vivos oral appliance treatment is an all-natural, non-invasive, non-pharmaceutical solution effective in addressing some of the underlying causes of OSA. Researchers have published about 80 clinical studies showing clear and compelling evidence of changes in the overall size and position of the upper airway and surrounding facial structures. Many of these articles can be found on the vivoslife.com website.
Statistics regarding the prevalence of sleep disorders in the US vary from study to study, but according to the National Institutes of Health (NIH) website, an estimated 50-70 million American adults suffer with this condition. In addition, the NIH website further states that a comparable percentage (25-30%) of children and adolescents also suffer from sleep disorders. Vivos believes virtually every American family is impacted by the many serious side effects of Sleep Disordered Breathing and OSA in one form or another. The most common treatment in the US, though not a cure, is the CPAP device where more than two million CPAP machines are sold each year. The company believes that their patented technology is a breakthrough compared to other treatments which simply alleviate symptoms. Vivos estimates that the total addressable market is in excess of $250 billion.
Vivos has trained and certified well over 600 dentists throughout the Unites States and internationally. These professionals have treated approximately 7,000 patients, many of whom report resolution of their OSA symptoms and health improvements. The procedure is reimbursed by virtually all medical insurance companies, including Medicare. Vivos is currently expanding into major metropolitan markets by opening branded clinics focused solely on treating sleep and breathing disorders, and craniofacial pain, featuring the unique clinical advantages of the Vivos DNA Appliance System. The company projects 50-75 centers open by the end of 2020.
Kirk Huntsman, CEO and Chairman of Vivos, commented "Merging with Secure Point supplies Vivos with the capital to successfully open centers to distribute this breakthrough treatment in the United States, and eventually around the world. Based on company forecasts, these US centers would represent revenues well in excess of $100 million per year in the years beyond 2020. Our devices address a worldwide market many times the size that Invisalign currently treats with clear aligners."
About Vivos BioTechnologies, Inc.:
Vivos is a privately held corporation with offices in Colorado, Oregon, and Arizona, and certified providers located throughout North America and internationally. Vivos is dedicated to delivering what it believes to be breakthrough patented and proprietary technology to patients suffering from Sleep Disordered Breathing and Obstructive Sleep Apnea.
For further information, please contact RaeAnn Byrnes, Sr. VP at [email protected]
or (303) 2461257
Source: Vivos BioTechnologies, Inc.
