Vivos Therapeutics announces agreement to acquire operating assets of SCN

Vivos Therapeutics (VVOS) announced a definitive agreement to acquire the operating assets of The Sleep Center of Nevada, SCN, the largest operator of medical sleep centers in Nevada. Vivos has agreed to pay up to $9 million for the SCN operating assets, including $6 million in cash and $1.5 million in Vivos common stock at closing. An additional $1.5 million in Vivos common stock may be earned in the future if SCN achieves an agreed to financial milestone. Vivos intends to secure the funding for the upfront cash payment primarily with a senior debt facility and also potential equity financing.