Vivos Therapeutics Inc, a medical technology company focused on developing treatments for patients with dentofacial abnormalities and/or mild-to-moderate obstructive sleep apnea (OSA) and snoring in adults, reported a decrease in revenue for the third quarter, juxtaposed against its efforts to expand internationally and form strategic partnerships in the sleep apnea treatment market.

Revenue was $3.3 million for the third quarter and $10.6 million for the nine months ended Sept 30, compared to $4.2 million and $12.1 million for the three and nine months ended Sept 30, 2022, respectively.

Vivos attributed the revenue decline mainly to lower product revenue and Vivos Integrated Provider enrollments, offset by increased revenue from home sleep testing services and seminars conducted at the Vivos Institute in Denver. Vivos believes that governmental investigations of third parties with non-US Food and Drug Administration (FDA)-approved products in the sleep apnea treatment space have adversely impacted new Vivos case starts and VIP enrollments during 2023, according to a release from the company. 

As of Sept 30, patients treated with The Vivos Method totaled approximately 40,000, compared to over 31,000 as of the third quarter of 2022. Vivos has also trained more than 1,850 dentists in the use of The Vivos Method and Vivos’ related value-added services, compared to over 1,650 as of the third quarter 2022.

Subsequent to quarter end, in October, Vivos announced an exclusive distribution agreement with NOUM DMCC, 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 region. 

Later in October, Vivos announced that its flagship daytime-nighttime appliance (DNA) will be tested in a clinical trial at Stanford Medicine. The protocol has been finalized and participant enrollment will begin in early 2024. Study participants with moderate to severe OSA will be randomly assigned to either treatment with Vivos’ DNA appliance or CPAP machine. Sleep studies will be performed prior to and following a course of treatment using in-lab polysomnography to assess changes in the patients’ apnea-hypopnea index.

This month, Vivos amended its national distribution agreement with Lincare, a leading supplier of in-home respiratory therapy products and services for approximately 1.8 million patients, giving Lincare a six-month exclusivity period to distribute certain designated Vivos devices. The agreement follows the conclusion of a distribution pilot with Lincare and marks a milestone in Vivos’ strategy to engage with leading durable medical equipment companies in the US, according to a release from the company.

“We continue to believe that our expanding portfolio of proprietary products are the best market solution for treating sleep apnea and related breathing conditions for which we have several FDA approvals,” says Kirk Huntsman, Vivos’ chairman and CEO, in a release. “We will continue to look at and execute on opportunities to expand our product offerings and business collaborations with the goal of driving increased revenues. We intend to make further progress with our strategic revenue initiatives during the rest of this year as well as in 2024.”

Photo 12903183 © Homiel | Dreamstime.com