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Investing.com -- Vivos Therapeutics Inc . (NASDAQ:VVOS) stock surged 90% after the company announced its VidaSleep oral appliance received approval from the Centers for Medicare & Medicaid Services (CMS) for treating obstructive sleep apnea (OSA) and snoring in adults.
The approval from Medicare’s Pricing, Data Analysis and Coding contractor positions VidaSleep alongside Vivos’ mmRNA device on the list of covered oral appliances, making Vivos the only company with two Medicare-covered oral appliances featuring different patented technologies. This development significantly expands access to the company’s sleep apnea treatments for millions of Medicare beneficiaries.
VidaSleep features Vivos’ proprietary Unilateral Bite Block technology, which received FDA clearance for treating mild to moderate OSA. The approval is expected to influence commercial insurers that typically follow CMS guidelines, potentially expanding Vivos’ addressable market in the estimated $36 billion sleep therapy sector.
"The PDAC approval of VidaSleep is another milestone achievement for Vivos, strategically positioning us to significantly augment our presence in the value-based care segment of the sleep apnea market," said Kirk Huntsman (NYSE:HUN), CEO and Chairman of Vivos Therapeutics.
The company highlighted that VidaSleep offers a cost-effective alternative while maintaining clinical efficacy, allowing healthcare providers to serve patients across different price points while preserving profit margins. Both VidaSleep and mmRNA can be used as standalone therapies or as adjuncts to CPAP machines.
OSA affects an estimated 80 million Americans, with approximately 80% of cases remaining undiagnosed. The condition is linked to serious health issues including heart disease, stroke, and dementia.
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