Viveve Medical, Inc. (VIVE): History, Ownership, Mission, How It Works & Makes Money

What trajectory led Viveve Medical, Inc., a company once focused on innovating in women's intimate health technology, to its current situation?

This entity, known for its non-invasive, radiofrequency-based treatments, faced significant challenges culminating in a Chapter 11 bankruptcy filing in May 2023 and the subsequent delisting of its stock.

Understanding its history, ownership structure before the filing, operational model, and revenue generation attempts provides critical insights, especially concerning the hurdles faced in clinical trials and market adoption within the medical device sector.

What crucial lessons can we extract from its journey regarding regulatory pathways, capital management, and commercialization strategies in the demanding medtech landscape?

Viveve Medical, Inc. (VIVE) History

Viveve Medical's journey began not as Viveve, but as Thermagen, Inc., incorporated in Delaware. The company evolved significantly over the years, particularly through strategic corporate actions and navigating the complex medical device regulatory landscape.

Viveve Medical, Inc.'s Founding Timeline

Year established

Thermagen, Inc., the predecessor entity, was founded in 2005. It later became Viveve, Inc. and subsequently Viveve Medical, Inc. following a reverse merger transaction.

Original location

The company's operational headquarters were established in the Englewood, Colorado area, though its incorporation was in Delaware.

Founding team members

While specific founders of the original Thermagen entity require deeper archival search, key figures post-merger and during its operational peak included executives like Scott Wolf, who served as CEO.

Initial capital/funding

Details on Thermagen's seed funding are less public. Viveve Medical secured capital post-merger through public markets and private placements. For instance, after going public via the reverse merger, it accessed public equity financing. Subsequent funding rounds occurred, though specific initial amounts pre-public listing are not readily detailed in later financial summaries. The company consistently reported operating losses, necessitating ongoing capital raises throughout its history.

Viveve Medical, Inc.'s Evolution Milestones

Viveve Medical, Inc.'s Transformative Moments

The Reverse Merger Strategy

Choosing a reverse merger in 2012 was pivotal. It offered a faster, potentially less expensive route to becoming a public company compared to a traditional IPO, immediately providing liquidity options and a platform for future capital raises essential for a medical device company requiring significant R&D investment.

Clinical Trial Setbacks

The failure of the key PURSUIT trial in 2020 was a major negative turning point. Having staked significant resources and market valuation on achieving an SUI indication in the US, the negative outcome severely damaged investor confidence and hampered the company's ability to raise capital on favorable terms, directly contributing to its later financial distress.

Navigating Financial Distress and Bankruptcy

The decision to file for Chapter 11 protection in 2023, followed by the asset sale, represented the final major transformation. It allowed for an orderly attempt to maximize value for creditors, albeit marking the dissolution of the company's independent operational existence. Understanding the investor profile during these turbulent times can offer insights. Exploring Viveve Medical, Inc. (VIVE) Investor Profile: Who’s Buying and Why?

Viveve Medical, Inc. (VIVE) Ownership Structure

Viveve Medical, Inc. operated as a publicly traded entity, meaning its ownership was distributed among various institutional investors, company insiders, and the general public through stock exchanges. However, the company's financial trajectory led to significant changes in its operational and ownership status.

Viveve Medical, Inc.'s Current Status

As of the end of 2024, Viveve Medical, Inc. is no longer operating as a going concern in the traditional sense. The company filed for Chapter 11 bankruptcy protection in late 2023, which was subsequently converted to a Chapter 7 liquidation proceeding in early 2024. This means the company ceased operations, and its assets are being sold off by a court-appointed trustee to pay creditors. Its stock (formerly VIVE) was delisted from major exchanges.

Viveve Medical, Inc.'s Ownership Breakdown

Prior to its bankruptcy filing, Viveve Medical's ownership structure resembled that of many publicly traded medical device companies. Institutional investors typically held a significant portion of the shares, often exceeding 50%, reflecting confidence from larger financial entities. Retail investors (the general public) and company insiders, including executives and board members, held the remaining shares. However, following the Chapter 7 liquidation filing in early 2024, common stock equity holders were effectively wiped out. The ownership interest shifted entirely to creditors, whose claims are being settled through the liquidation of company assets. Therefore, traditional shareholder percentages are no longer applicable as of the end of 2024. Understanding the company's prior financial state is crucial; you can explore more details here: Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

Viveve Medical, Inc.'s Leadership

Leading up to the bankruptcy proceedings, Scott Durbin served as the Chief Executive Officer. The executive team also included individuals heading finance, operations, and clinical development. With the conversion to Chapter 7 liquidation in early 2024, the company's management and board effectively lost control. A court-appointed Chapter 7 trustee took over the company's estate, tasked with overseeing the liquidation process and distributing any proceeds to creditors according to legal priorities. As of the end of 2024, the trustee, not the former executive team, manages the remnants of the company.

Viveve Medical, Inc. (VIVE) Mission and Values

Viveve Medical historically centered its efforts on developing medical devices aimed at improving women's intimate health conditions through innovative technology. Understanding the Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE) offers insight into the company's past strategic direction before its significant operational changes, including its bankruptcy filing in late 2023 and subsequent asset sale.

Viveve Medical's Core Purpose

While official statements reflecting the company's current status post-asset acquisition by Lazurite Holdings LLC are not readily available, Viveve's historical purpose revolved around addressing specific women's health issues.

Official mission statement

Historically, Viveve Medical focused on advancing women's intimate health by providing clinically proven, innovative, and energy-based solutions designed to improve quality of life.

Vision statement

The company previously aimed to be recognized as a global leader in developing and commercializing novel applications of its proprietary radiofrequency technology for women's intimate health.

Company slogan

A specific, widely recognized company slogan for Viveve Medical is not prominently documented in available public records from its operational period.

Viveve Medical, Inc. (VIVE) How It Works

Viveve Medical historically operated as a medical technology company focused on women's intimate health, primarily generating revenue through the sale of its Viveve® System console and single-use treatment tips used in its patented CMRF procedure. Following its Chapter 11 bankruptcy filing in late 2023, key assets, including those related to the Viveve System, were acquired by InMode Ltd. in early 2024, meaning Viveve Medical, Inc. no longer functions as an independent operational entity in the same capacity.

Viveve's Historical Product/Service Portfolio

Viveve's Historical Operational Framework

Historically, Viveve operated on a capital equipment sales model combined with recurring revenue from consumables. The company focused on research and development to obtain clinical data and regulatory approvals for its technology in various global markets. Its operational process involved manufacturing (often outsourced), marketing and sales targeting medical practices, training physicians on system use, and providing customer support. Generating sufficient clinical evidence to support efficacy claims and gain broader regulatory approvals was a key operational challenge, impacting market adoption and financial performance. Understanding the past financial structure is crucial; you can explore more via Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

• Manufacturing & Supply Chain: Managed production of consoles and sterile, single-use treatment tips.
• Sales & Marketing: Direct sales force and distributors targeted medical professionals globally.
• Clinical & Regulatory Affairs: Conducted clinical trials (like VIVEVE I, VIVEVE II) and sought approvals from bodies like the FDA and international equivalents.
• Training & Support: Provided necessary training for physicians to operate the system effectively and safely.

Viveve's Historical Strategic Advantages

Prior to its financial difficulties and asset sale, Viveve's perceived strategic advantages centered on its proprietary CMRF technology, which offered a differentiated approach compared to laser or other RF treatments by incorporating surface cooling. The company had secured patents protecting its technology and treatment methods. Furthermore, it invested significantly in clinical studies aiming to validate the safety and efficacy of its system for specific indications, providing a potential advantage in discussions with clinicians and regulators, although market acceptance and achieving profitability proved challenging. The single-use treatment tip model also aimed to create a predictable, recurring revenue stream once a system was installed.

Viveve Medical, Inc. (VIVE) How It Makes Money

Historically, Viveve Medical generated revenue primarily through the sale of its proprietary Viveve® System, a medical device using cryogen-cooled monopolar radiofrequency (CMRF) technology, and the single-use treatment tips required for each procedure.

Viveve Medical, Inc.'s Revenue Breakdown

Prior to its Chapter 11 bankruptcy filing in late 2023 and subsequent asset sale, the company's revenue streams typically consisted of:

• Capital Equipment Sales: Revenue generated from the initial sale of the Viveve® System units to medical practices. This portion varied significantly based on sales cycles and market adoption.
• Consumable Sales: Recurring revenue from the sale of single-use treatment tips, which were necessary for performing procedures with the system. This represented a significant, ongoing revenue source tied directly to procedure volume.

As the company ceased independent operations and sold its assets following the bankruptcy filing, generating revenue data for the 2024 fiscal year under the traditional model is not applicable.

Viveve Medical, Inc.'s Business Economics

The company operated on a classic razor-and-blade business model. The initial Viveve® System sale (the 'razor') established the installed base. Higher margin, recurring revenue was then generated through the continuous sale of the necessary single-use treatment tips (the 'blades'). Pricing involved a significant upfront cost for the system unit, followed by per-procedure costs associated with the disposable tips. This model aimed to build a predictable revenue stream once a customer acquired the system, contingent on procedure adoption and utilization rates by the medical practices. However, achieving sufficient scale and utilization proved challenging.

Viveve Medical, Inc.'s Financial Performance

Viveve Medical consistently faced significant financial challenges leading up to its bankruptcy. The company reported substantial net losses year after year, driven by high operating expenses related to research and development, sales and marketing efforts, and general administrative costs, which consistently outpaced revenue generation. For instance, in the nine months ending September 30, 2023, the company reported a net loss of approximately $18.7 million on revenues of only $3.6 million. Gross margins were often strained or negative, reflecting challenges in manufacturing costs and sales volume relative to fixed costs. Persistent negative cash flow from operations necessitated frequent capital raises through equity and debt financing. Ultimately, the inability to achieve profitability or secure further funding led to the Chapter 11 filing in December 2023. There is no operational financial performance data for Viveve Medical as an independent entity for the 2024 fiscal year due to these events. You can learn more by Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors which details the path leading to its financial distress.

Viveve Medical, Inc. (VIVE) Market Position & Future Outlook

Following its Chapter 11 bankruptcy filing in late 2023 and the subsequent acquisition of its assets by InMode Ltd. in early 2024, Viveve Medical no longer operates as an independent entity. Its future, tied to its technology under new ownership, depends heavily on InMode's integration strategy within the competitive energy-based medical device market.

Competitive Landscape

The market for non-invasive women's health and aesthetic treatments remains competitive. With Viveve's assets now part of InMode, the landscape shifts slightly, reinforcing the position of established players.

Opportunities & Challenges

The sector Viveve operated in faces both growth avenues and potential hurdles.

Industry Position

The energy-based aesthetic and women's health device market continued its growth trajectory through 2024, driven by demand for minimally invasive solutions. Industry consolidation, exemplified by InMode's acquisition of Viveve's assets, is a notable trend, potentially strengthening larger players. While the original Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE). focused on pioneering treatments, the realization of that vision now rests with the acquirer. Key success factors in this space include robust clinical data, effective marketing to both physicians and patients, and navigating complex global regulatory environments. Companies with diversified portfolios and strong financial backing are generally better positioned to capture sustained growth.