Vivos Therapeutics, Inc. (NASDAQ: VVOS) shares fell Wednesday. The Littleton, Colorado-based company, a leader in proprietary, non-invasive treatments for obstructive sleep apnea (OSA), today announced a definitive agreement to acquire the operating assets of The Sleep Center of Nevada, the largest operator of medical sleep centers in Nevada.
Significant Vivos investor New Seneca Partners, Inc., a leading North American private equity sponsor, assisted in sourcing, structuring and executing this transaction. The acquisition is expected to close in the later this quarter or in the third quarter, subject to financing, audit and other customary conditions. The proposed transaction does not require Vivos shareholder approval.
Vivos’ acquisition of the profitable and high patient volume SCN accelerates Vivos’ new marketing and distribution model following its June 2024 strategic alliance with Colorado-based sleep center operator Rebis Health. Vivos’ new model is designed to introduce Vivos’ FDA-cleared oral appliance treatments for OSA more directly to the very large and growing population of patients who suffer from OSA.
Many of these patients are looking for lasting solutions for their OSA but are typically forced to choose between unappealing treatment options such as continuous positive airway pressure (CPAP) or surgery or abandoning treatment altogether.
The acquisition aligns with Vivos’ mission to make its clinically proven treatments accessible to the millions of individuals who suffer with OSA. By leveraging SCN’s infrastructure and patient base, Vivos expects to enhance case acceptance, diversify services, and strengthen its market position in a fast-growing region.
Shares in VVOS gave back a dime, or 4.6%, to $2.09.