New Relationships Expected to Add Potentially Significant New Revenue Opportunities for Vivos as well as Airway-Focused Expertise and Potential Cost Savings for Vivos-trained Providers
| Source: Vivos Therapeutics, Inc
LITTLETON, Colo., Oct. 04, 2023 (GLOBE NEWSWIRE) — 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 two key strategic agreements that will expand Vivos’ current product line and are expected to create near term additional revenue opportunities.
Kirk Huntsman, Vivos’ Chairman and Chief Executive Officer, stated “Everyone in the orthodontic industry recognizes Ormco, a division of publicly-traded Envista Holdings Corporation, and Spark™ Clear Aligners as leading brands with exceptional products and customer service. Spark™ Aligners are rapidly becoming the go-to clear aligner of choice for orthodontic specialists. The vast majority of our Vivos-trained providers use clear aligners as a key component of their Vivos treatment. Up to this point, Vivos has not had a means of facilitating any sort of pricing discounts for its providers with margins for Vivos. This agreement facilitates a strong collaboration effort between Vivos and Ormco, and paves the way for joint marketing and sales support from each company’s field sales teams. Using Vivos CARE devices with Spark Aligners, we expect Vivos patients to see faster treatment times and improved predictability for positive clinical outcomes.”
“Our new agreement with On Demand Orthodontist (ODO) represents an exciting new service to our Vivos providers featuring direct access and case collaboration with airway-focused orthodontic specialists who are available to help optimize clinical outcomes for Vivos cases. ODO orthodontists strongly prefer Spark™ Aligners due to their many proven clinical capabilities and advantages over other aligner brands. Vivos-trained dentists will now benefit from better overall pricing, while Vivos benefits from a distribution margin associated with each case,” Mr. Huntsman concluded.
Dr. John Warford, Clinical Director at ODO and nationally renowned expert in clear aligner treatment, stated, “At ODO, we have worked closely for some time now consulting with Vivos doctors on their cases, and we have been extremely impressed by what we have seen. From our direct clinical observations, Vivos CARE device technology appears to work symbiotically with Spark™ Clear Aligners, to deliver a beautiful new smile for patients. Candidly, as an orthodontist who has treated thousands of clear aligner patients, there is simply no other combination of products and techniques that compares to what we are able to do with Spark™ Aligners and Vivos CARE devices for patients with compromised airways.”
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, any anticipated benefits to the Company or additional revenues generated from the Company’s new business collaborations described herein) 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 Vivos may be unable to implement revenue, sales and marketing strategies that increase revenues, (ii) risks associated with regulatory scrutiny of and adverse publicity in the sleep apnea treatment sector; (iii) the risk that Vivos may be unable to secure additional financings on reasonable terms when needed, if at all and (iv) 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.
About the Spark™ Clear Aligner System
Spark Aligners are manufactured by Ormco, a global leader in innovative orthodontics products, with 60 years of expertise, R & D and high manufacturing standards. Ormco has helped doctors treat more than 20 million patients in more than 140 countries. Spark Approver software is designed to give doctors more control and flexibility, while Spark’s advanced aligner technology and TruGEN™ material provide more sustained force retention. Compared to the leading aligner brand, the Spark Aligner has 18% better surface contact with the tooth and is also designed to be clearer and more comfortable, and stain less — which may be why 100% of patients recently surveyed said they would recommend Spark Aligners to a friend.
For more information about Spark Aligners, visit https://ormco.com/en-us/spark.
Envista is a global family of more than 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr, united by a shared purpose: to partner with professionals to improve lives. Ormco, headquartered in Brea, Calif., is a global leader and innovator of orthodontic products and solutions to help enhance the lives of its customers and their patients. For 60 years, Ormco has partnered with the orthodontic community to help create over 20 million smiles in over 140 countries. Distinguished products range from twin brackets (Symetri™ Clear Brackets, Titanium Orthos™ and Mini Diamond™) to pioneering self-ligating appliances with the Damon™ System (including Damon Ultima™ System and Damon™ Clear2). The Spark™ Clear Aligner System is designed to meet the needs of the orthodontist with the TruGEN™ material and Approver software. Ormco’s Insignia™ Advanced Smile Design™ provides an all-inclusive customized indirect bonding solution for efficiency through personalization. From personalized service to professional education programs and marketing support, Ormco is committed to helping orthodontists achieve their clinical and practice management objectives. Connect on Facebook at www.facebook.com/myormco and LinkedIn at www.linkedin.com/company/ormco.
Vivos Investor Relations Contact:
Investor Relations Officer