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The company will participate in five upcoming European meetings on sleep medicine
SAN FRANCISCO, Sept. 15, 2022 (GLOBE NEWSWIRE) — ProSomnus, a pioneer in precision medical devices for the remedy of obstructive sleep apnea (OSA), today announced that the ProSomnus EVOTM sleep and loud snoring device is now reimbursable through the public health insurance system.
ProSomnus EVO is an option for older oral devices and CPAP machines, and can result in a more effective remedy and greater patient adherence. It repositions and stabilizes the sleep of the jaw, achieving better airflow in the patient’s pharyngeal space. The ProSomnus EVO is composed of jaw and mandibular alignment trays for orthodontic remedies that are manufactured exactly from double asparagus and digitally milled to be patient-specific. Prescribed advances can be achieved by cutting the existing arc of the upper or lower apparatus and placing the next arc on the mandibular advance series.
“The updated reimbursements in Germany offer a wonderful opportunity to expand treatment to thousands of OSA patients,” said Gregory Vogel, Vice President of International Affairs at ProSomnus. “ProSomnus’ precedent in offering world-class products and facilities in North America paves the way for expansion and expansion in Europe. We are excited to continue to invest in the other people and resources needed to help our clinical providers. “
“Reimbursement validation is helping to identify ProSomnus precision intraoral devices as an effective, patient-preferred and economically viable remedy option for healthcare providers in Germany and the estimated 26 million people suffering from OSA in the country,” said Len Liptak, co-founder. and CEO. ProSomnus Officer.
ProSomnus will participate in five European meetings on sleep medicine
ProSomnus will also provide similar studies to its OAT devices at five meetings in Europe in 2022. The company will provide updates on the First Line Obstructive Sleep Apnea Treatment Study (FLOSAT) and release similar studies to its OAT devices. ProSomnus will provide:
22nd Symposium of the German Society of Sleep Dentistry (DGZS) in Frankfurt, Germany, on September 17.
Meeting of the Irish Society of Dental Sleep Medicine (ISDSM) in Dublin, Ireland, in October.
The annual publication of the European Academy of Sleep Dentistry (EADSM) in Florence, Italy, on October 13.
Symposium 2022 of the Belgian Interdisciplinary Academy of Dentistry and Sleep Surgery (IBEDSSMA) in Genval, Belgium, on October 21.
30th Annual Conference of the German Society for Sleep Research and Medicine (DGSM) in Wiesbaden, Germany, from 10 to 12 November.
About ProSomnusProSomnus is the leading manufacturer of personalized, precision oral healing devices to treat OSA, which affects more than 74 million Americans and is linked to serious comorbidities, including heart failure, stroke, hypertension, morbid obesity, and type 2 diabetes. ProSomnus’ patented devices are a more comfortable and less invasive option for continuous positive airway strain (CPAP) treatment and lead to more effective and patient-preferred results. With more than 150,000 patients treated, ProSomnus devices are the most prescribed oral treatment in the United States. For more information, www. ProSomnus. com.
In May 2022, ProSomnus entered into a definitive merger agreement with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), a special target acquisition company. Upon closing, the combined company is expected to replace its call to ProSomnus, Inc. and its Class A common shares are expected to be traded on the Nasdaq capital market under the symbol “OSA”.
Important Notice Of Forward-Looking Statements This press release comprises certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Statements that are not old facts, which add statements about ongoing transactions between Lakeshore Acquisition I Corp. (together with its successors, the “Buyer”), LAAA Merger Sub Inc. , a Delaware corporation and wholly-owned subsidiary of Buyer (the “Merger Subscriber”), ProSomnus, HGP II, LLC, a Delaware limited liability company, as a representative of the shareholders of ProSomnus, and RedOne Investment Limited, a British Virgin Islands corporation, as a representative of Buyer’s shareholders, and the transactions and the parties’ prospects and expectations are forward-looking statements. The words “expect,” “believe,” “estimate,” “pretend,” “plan” and similar expressions imply forward-looking statements. These forward-looking statements are not promises of long-term functionality and are subject to known and unknown risks, uncertainties, assumptions (which aggregate assumptions about general economic, market, industrial and operational factors), which may cause actual effects rather than those stated or anticipated.
These threats and uncertainties include, but are not limited to: (i) the threat that the transaction will not be completed in a timely manner or at all, possibly having an adverse effect on the value of the buyer’s securities; (ii) the threat that the transaction will not close before Buyer’s business combination deadline and the possible inability to discharge an extension of the business combination deadline if requested through Buyer; (iii) failure to comply with the conditions for the closing of the transaction, adding the approval of the business mix agreement through the Buyer’s shareholders, the satisfaction of the minimum amount in money subsequent to any purchase through the shareholders Buyer publics and receipt of secure regulatory approvals; (iv) the absence of a third party evaluation to determine whether or not to proceed with the proposed transaction; (v) the occurrence of any event, replacement or other circumstance that could result in the termination of the business mix agreement; (vi) the effect of the announcement or expectation of the transaction in the commercial relations of ProSomnus, effects of operations and business in general; (vii) threats that the proposed transaction will disrupt ProSomnus’ existing plans and operations; (viii) the final results of any legal continuation that would eventually be brought against ProSomnus or the Buyer in connection with the business combination agreement or the proposed transaction; (ix) the ability to carry Buyer’s securities directory at a national inventory show; (x) adjustments in the competitive industries in which ProSomnus operates, diversifications in operating functionality among competitors, adjustments in laws and regulations having an effect on ProSomnus’ business, and adjustments in the combined capital structure; (xi) the ability to put business plans, forecasts and other expectations into effect after the final touches of the proposed transaction, and to identify and realize additional opportunities; (xii) the threat to ProSomnus’ market position and industry downturn, as well as, among others, due to the COVID-19 pandemic; (xiii) the prices related to the transaction and the failure to realize the expected benefits of the transaction or to materialize the estimated pro forma effects and underlying assumptions, as well as the estimated shareholder returns; (xiv) ability for all of its convertible debt financing; (xv) the threat of potential long-term dilution to shareholders as a result of lender conversions under the Convertible Debt Financing; and (xvi) threats and uncertainties related to the business of ProSomnus, including, among others, threats related to the uncertainty of the projected monetary data related to ProSomnus; threats related to ProSomnus’ limited operating history, ProSomnus’ business rollout and timing of expected business milestones; ProSomnus’ ability to execute its business plan and scale its business, including recruiting fitness professionals to prescribe and dentists to deliver ProSomnus oral appliances; understanding and adoption by dentists and other physical care professionals of ProSomnus oral appliances for mild to moderate OSA; expectations related to the effectiveness of treatment for OSA with ProSomnus oral devices and the patient’s risk of relapse after the end of treatment; the potential monetary benefits to dentists and other physical care professionals when treating patients with ProSomnus oral appliances and using ProSomnus follow-up tools; ProSomnus prospective profit margin on sales of ProSomnus oral appliances; ProSomnus’ ability to train dentists in the use of ProSomnus oral appliances and the other facilities it provides in its dental practices; ProSomnus’ ability to formulate, enforce and modify as mandatory effective sales, market positioning and strategic plans to drive coin growth; ProSomnus’ ability to expand internationally; the viskill of the intellectual assets of ProSomnus and the intellectual assets created in the long term; positioning in the marketposition acceptance of products and installations positioned in the market through ProSomnus; government regulations and ProSomnus’s ability to discharge applicable regulatory approvals and comply with government regulations, including under fitness legislation and US Food and Drug Administration rules and regulations; and the extent of patient reimbursement through health insurance in the United States and abroad. An additional list and description of the threats and uncertainties can be found in the buyer’s initial public offering prospectus dated June 10, 2021 and in the buyer’s quarterly reports on Form 10-Q and annual reports on the Form 10-K filed with the next Securities and Exreposition. Commission (the “SEC”) and in the registry on Form S-4 and the power of attorney that have been and will be filed with the SEC through the acquirer in connection with the proposed transactions, and other documents that the parties would possibly file or would provide to the SEC, which we encourage you to read. In the event that one or more of those threats or uncertainties cover, or cause the underlying assumptions to prove incorrect, the actual effects are likely to differ greatly from those indicated or expected through such future forecasts. Accordingly, you are cautioned not to place undue reliance on such prospective emails. Forward-looking emails speak only as of the date they were made, and Buyer, the merged subsidiary entity, ProSomnus and their affiliates assume no legal responsibility to update forward-looking emails to reflect occasions or occurrences after the date in which they were made. unless required by law or statute. applicable regulations.
Additional Information and Where to Find It In connection with the transaction described herein, Buyer has registered and will file the appropriate documents with the SEC, adding the Declaration of Registration on Form S-4 and a Power of Attorney Circular. The power of attorney circular and a power of attorney will be mailed to shareholders on a registration date to be set for voting at the shareholders’ meeting related to the proposed transactions. buyer. The registration statement on Form S-4 and the proxy circular, once available, can also be downloaded free of charge from the SEC’s online page in www. sec. gov or by writing to the buyer at 667 Madison Avenue, New York, New York 10065.
INVESTORS AND HOLDERS OF BUYER’S SECURITIES ARE INVITED TO READ THESE DOCUMENTS (INCLUDING ANY MODIFICATIONS OR SUPPLEMENTS) AND ANY OTHER RELEVANT DOCUMENTS RELATING TO TRANSACTIONS THAT BUYER WILL FILE WITH THE SEC WHEN AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BUYER, PROSOMNUS AND MINUTES.
Participants in the Buyer Request, Deputy Director of Merger, ProSomnus, certain shareholders of ProSomnus, as well as their respective directors, officers and employees and other persons would possibly be participants in the request for representation of buyers’ non-unusual shares with respect to the proposed transaction. Information about Buyer’s managers and officers and their ownership of Buyer’s non-unusual actions is set forth in Buyer’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC. Further data relating to the Interests of the participants in the request for powers of attorney will be included in the proxy circular relating to the proposed transaction when available. These documents can be received free of charge from the resources listed above.
No Offer or Solicitation This press release is not a representative or a solicitation of a representative, consent or authorization with respect to any assurance or with respect to prospective business mixing or any other matter and does not constitute an offer to sell or a solicitation of an offer to purchase Buyer’s Securities, of ProSomnus or the merged company, and there shall be no sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. No offer of securities could be made other than through a prospectus that meets the needs of the Securities Act of 1933, as amended.
Investor ContactMike CavanaughICR WestwickePhone: 1. 617. 877. 9641Email: Mike. Cavanaugh@westwicke. com
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