Vivos Therapeutics Inc. has announced the acquisition of Sleep Centers of Nevada $(SCN.AU)$, marking a strategic pivot towards expanding its sleep medicine and testing services. The transaction involved a $6 million cash payment and $1.5 million in Vivos common stock to SCN. An additional $1.5 million in Vivos common stock could be awarded if SCN achieves certain financial milestones. The acquisition is financed through a senior term loan from Streeterville Capital LLC and a private placement investment by New Seneca Partners. Vivos expects this acquisition to enhance its diagnostic and treatment revenues, aiming for cash flow positivity as SCN locations integrate Vivos treatments. CEO Kirk Huntsman expressed excitement about the acquisition, noting that SCN patient bookings are already fully scheduled.
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