Vivos Therapeutics (NASDAQ: VVOS) today announced it has implemented a broad set of initiatives aimed at improving operational efficiencies, reducing expenses and positioning Vivos to take advantage of current growth opportunities. According to the update, the initiatives touch most aspects of Vivos’ operations and include expense reductions, product suite expansion and organizational changes that included an approximate 17% reduction of its workforce. “Vivos has made major strides in recovering from challenges imposed by the COVID-19 pandemic on the dental industry, which lost tens of thousands of qualified dental practice personnel, including many who were trained in the Vivos Method,” said Vivos CEO and Chairman Kirk Huntsman. “I am pleased to say that after several quarters of rebuilding, our field support infrastructure for our Vivos Integrated Providers (‘VIPs’) has now reached what we believe is sufficient critical mass, and we are in a position now to throttle back our rebuild efforts and associated higher rate of spending. We have implemented several internal initiatives to focus on the most impactful programs for near-term revenue generation (including our recently acquired POD ® devices), improve efficiencies and manage operating expenses (including a tactical reduction in our workforce to streamline our operations). These changes are expected to result in relatively flat revenues sequentially for the transitional first half of 2023, and we anticipate top line revenue growth to accelerate beginning in the third quarter of this year.”
To view the full press release, visit https://ibn.fm/1QR4Y
About Vivos Therapeutics Inc.
Vivos Therapeutics 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 over 33,000 patients treated worldwide by more than 1,750 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.
NOTE TO INVESTORS: The latest news and updates relating to VVOS are available in the company’s newsroom at http://ibn.fm/VVOS
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