AppYea (OTC: APYP), a medical device technology company, announced today the deemed completion of its previously announced acquisiiton of SleepX, an innovative medical device company focused on the development of SleepX’s flagship product DreamIT – an uncompetitively accurate wearable monitoring solution to treat sleep apnea and snoring and fundamentally improve quality of life.
After the acquisiiton, SleepX will continue operating under its own brand name as a fully owned AppYea subsidiary. The merged company will focus on further development and commercialization of SleepX’s solution, including continued R&D investments and new initiatives in sales and marketing. Also, SleepX intends to begin a calibration trial with DreamIT.
“I am delighted that we have completed the acquisition of SleepX. The company develops a wearble technology solution to treat snoring and sleep apnea, which is patent protected in the US, EU and Israel, and caters to two growing markets in high demand”, said Boris (Bary) Molchadsky, AppYea’s Chairman. “This aqisition allows us to execute our growth strategy towards the beginning of DreamIT’s marketing during the second half of 2022, while continuing its development with the Biomedical Department at Ben Gurion University in Israel, and launching our first calibaration trial. Meanwhile, we are examining the acquisition of other synergetic activities that will complement the SleepX vision to improve sleep quality and quality of life globally.”
According to the market intelligence company Fior Markets, the global anti-snoring treatment market is expected to grow at a 9.07% CAGR to USD 8.6 billion by 2028. The global sleep apnea devices market is expected to grow at a 6.2% CAGR to USD 6.1 billion by 2028, according to Grand View Research’s report.
About SleepX
SleepX, an AppYea (OTC: APYP) subsidiary, is a medical device company, focused on the development of uncompetitively accurate wearable monitoring solutions to treat sleep apnea and snoring and fundamentally improve quality of life.
The company’s solutions are based on its proprietary IP portfolio of AI and sensing technologies for the tracking, analysis, and diagnosis of vital signs and other physical parameters during sleep time, offering extreme accuracy and resistance at affordable cost.
SleepX’s flagship solution is DreamIT – a patented wristband communicating with its smartphone app to gently vibrate with every breathing interruption, and cause a shift from deep to lighter sleep, training the brain to breath properly. The app tracks sleep patterns and using the company’s machine learning technology to adapt the treatment and recommend improvements according to the user’s sleep and breathing patterns. In addition to reducing snoring and improving sleep quality, users will be able to access important statistics relating to their sleep patterns via the app to track and detect anomalies over time.
DreamIT is being developed in collaboration with the Biomedical department of the Ben Gurion University of the Negev and is patent protected in the US, EU and Israel.
According to the market intelligence company Fior Markets, the Global Anti-Snoring Treatment Market is expected to grow to USD 8.6 billion by 2028, at a 9.07% CAGR during 2021-2028. The global sleep apnea devices market size was valued at USD 3.7 billion in 2020 and is expected to expand at a 6.2% CAGR from 2021 to 2028, reaching USD 6.1 billion by 2028, according to a new report by Grand View Research, Inc
SleepX was founded in 2019, and following the acquisition, its headquarters are in Boca Raton, Florida.
Safe Harbor and Forward-Looking Statements
This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. Although APYP believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to our ability to raise capital needed to develop amd market our products, our ability to maange the business post acquisition, economic conditions, intense competition, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, unanticipated losses, financial condition and stock price, inability to carry out research, development and commercialization plans and other specific risks. APYP does not undertake any obligation to publicly update any forward-looking statement. Neither APYP nor SLEEPX are subject to the reporting requirements of the Securities and Exchange Commission.
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