October 05, 2023 07:30 ET| Source: Vivos Therapeutics, Inc
Vivos Executes Distribution Agreement with Established Dubai-based Sleep Testing Company
Subject to Regulatory Approvals, Vivos Could See Revenue From This Collaboration in 2024
LITTLETON, Colo., Oct. 05, 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 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
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Vivos Therapeutics Inc. published this content on 05 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2023 17:45:44 UTC.