Vivos Therapeutics Partners with Florida Cardiology Group, Projecting $6M+ Annual Revenue from New Sleep Apnea Treatment Model
VVOS sits 32% above its 52-week low of $0.545.
Summary
Vivos Therapeutics announced a key collaboration with South Palm Cardiovascular Associates to form AIM Florida, an entity focused on expanding sleep apnea and insomnia treatment to cardiovascular patients in Florida. Vivos expects to hold at least 80% of AIM Florida, which projects over $6 million in annual revenue with nearly 50% contribution margins from its initial operating team. This partnership is highly significant for Vivos, which has recently reported a 'going concern' warning, Nasdaq non-compliance, and has been converting senior debt to equity to shore up its balance sheet. The new model offers a potentially scalable and profitable revenue stream crucial for the company's financial recovery.
At the time of this announcement, VVOS was trading at $0.72 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.7M. The 52-week trading range was $0.55 to $7.95. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.