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

Do you know what happens to a medical device company when its innovative technology, the Cryogen-cooled Monopolar Radiofrequency (CMRF) Viveve System, runs headfirst into a brutal capital market? Viveve Medical, Inc. (VIVE) provides a stark lesson, with its market capitalization plummeting to just $1.08 thousand as of November 2025, a dramatic fall from its peak valuation. The company's story is a complex one, navigating the women's intimate health sector with a proprietary device that generated trailing twelve-month (TTM) revenue of $6.83 Million USD but ultimately led to a Chapter 11 bankruptcy and asset sale to InMode Ltd. in early 2024. So, how did a company with a clear mission and a razor-and-blade business model-selling a console plus single-use treatment tips-end up trading at a fraction of a penny, and what does its history tell us about the future of its core technology now under new ownership?

Viveve Medical, Inc. (VIVE) History

You're looking at the history of Viveve Medical, Inc., and what you need to understand right away is that this is a classic medtech story of innovation hitting the wall of market adoption and capital requirements. The company, known for its non-invasive, radiofrequency-based treatments for women's intimate health, essentially ceased independent operations after a significant corporate restructuring.

Its journey, from a small medical device developer to a publicly traded entity and then through Chapter 11 bankruptcy, offers sharp lessons on the hurdles in the medical device sector. The company's key assets were acquired by InMode Ltd. in early 2024, so its 2025 status is fundamentally different from its operational peak.

Given Company's Founding Timeline

Year established

The company's roots trace back to 2005 with the founding of its predecessor entity, Thermagen, Inc. The current corporate structure, Viveve Medical, Inc., was established through a reverse merger in 2014.

Original location

The operational headquarters were located in the Englewood, Colorado area, though the company was incorporated in Delaware.

Founding team members

While the original Thermagen founders are not widely publicized, the company's trajectory as Viveve Medical was guided by post-merger executives, including Scott Wolf, who served as Chief Executive Officer during a critical growth phase. The company's identity was forged in a reverse merger, not a traditional seed-funded startup.

Initial capital/funding

The company secured capital primarily through public markets and private placements following the reverse merger. One of its most significant funding events was a Conventional Debt round in May 2017, which raised $30 million. This continuous need for capital highlights the high burn rate common in clinical-stage medical device companies.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory was defined by three key, transformative decisions, or rather, inflection points. The first was the reverse merger; the last two were forced by market realities.

• The 2014 Reverse Merger: This was the moment the company chose the public market route for funding, merging with PLC Systems Inc. to gain a public listing. This gave them the capital to launch the Viveve System globally, but it also exposed them to the relentless pressure of quarterly results and public market scrutiny.
• The Pursuit of the SUI Indication: Committing significant resources to a large-scale U.S. clinical trial for stress urinary incontinence (SUI) was a high-risk, high-reward bet. The market potential was huge, but the cost of the trial, coupled with the slow pace of revenue growth, ultimately drained the cash reserves. You can see how this massive R&D spend, which peaked at $13.26 million in 2018, was unsustainable against a 2021 revenue of only $6.43 million.
• The 2023 Bankruptcy and Asset Sale: This was the final, defining moment. After years of operating losses-the accumulated deficit was approximately $95.4 million as of September 2017, and it only grew-the company ran out of runway. Honestly, the Chapter 11 filing in May 2023 and the subsequent sale of the core Viveve System assets to InMode Ltd. in early 2024 marked the definitive end of its independent story.

As of November 2025, the stock trades on the Expert Market (PINK) for a nominal price, reflecting its non-operational status and a tiny market capitalization of about $4.29 thousand. What this estimate hides is that the original business is gone; you're just trading the shell. If you want to dive deeper into the financial players who backed this journey, you can check out Exploring Viveve Medical, Inc. (VIVE) Investor Profile: Who's Buying and Why?

Viveve Medical, Inc. (VIVE) Ownership Structure

The ownership structure of Viveve Medical, Inc. has been fundamentally altered by its financial distress and subsequent liquidation, meaning traditional equity holders have been effectively wiped out. The company's assets were acquired by InMode Ltd. in early 2024, and the remaining entity is now in the wind-down phase of a Chapter 7 liquidation, shifting the focus of ownership interest to creditors.

Viveve Medical, Inc.'s Current Status

Viveve Medical, Inc. is a publicly traded entity, but it is not a going concern; it is in the process of a Chapter 7 liquidation, having filed for bankruptcy in late 2023. This means the company is no longer operating as an independent business. Its common stock (VIVE) was delisted from the Nasdaq Stock Market in January 2023 and now trades on the over-the-counter (OTC) market, reflecting its distressed status. As of November 21, 2025, the company's market capitalization stands at a negligible $1.08 thousand, a decrease of nearly 50% in one year, which tells you everything you need to know about the equity's value. Honestly, the stock price of approximately $0.0001 per share as of November 21, 2025, is a stark reminder that common equity is essentially worthless in this scenario.

For more detail on the financial trajectory that led to this point, you can look at Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

Viveve Medical, Inc.'s Ownership Breakdown

Given the company's Chapter 7 liquidation status, the traditional breakdown of ownership is no longer applicable, as common shareholders have lost their investment. The equity is functionally controlled by the creditor claims being settled through the asset liquidation process. This table reflects the reality of the common stock's position as of the 2025 fiscal year, where institutional ownership has vanished.

Here's the quick math: when a company enters Chapter 7, creditors get paid first from any remaining assets. Common stock is last in line, and with the company's key assets already sold, there is defintely nothing left for shareholders.

Viveve Medical, Inc.'s Leadership

As an independent, operational company, Viveve Medical, Inc. does not have an active executive leadership team or a functioning CEO as of November 2025. The company's operational wind-down following the asset sale and Chapter 7 filing means the management structure is essentially dissolved, with any remaining administrative functions focused solely on the liquidation process. The last known CEO, Scott C. Durbin, announced the company's decision to seek strategic alternatives and delist back in January 2023.

What this estimate hides is that the business's strategic direction is now dictated by the bankruptcy court and the trustee overseeing the liquidation, not a corporate CEO or board. The key decision-making is purely administrative.

• Current CEO Status: No active CEO or management team is in place for an operating business.
• Operational Control: All remaining legal and financial decisions are controlled by the Chapter 7 trustee.
• Asset Buyer: Key intellectual property and assets are now owned and managed by InMode Ltd.

Viveve Medical, Inc. (VIVE) Mission and Values

Viveve Medical, Inc.'s core mission was to pioneer clinically proven, non-invasive solutions for women's intimate health, but its operational reality in late 2025 is defined by its post-bankruptcy status and the sale of its core assets to InMode Ltd.. The company's cultural DNA is now a legacy of its original goal to improve women's quality of life via its Cryogen-cooled Monopolar Radiofrequency (CMRF) technology, which ultimately failed a pivotal U.S. trial in early 2023.

Viveve Medical, Inc.'s Core Purpose

The company's historical purpose centered on addressing a significant, yet often unaddressed, medical condition: vaginal laxity and related issues like stress urinary incontinence (SUI). This focus drove its development of the Viveve System, a dual-energy platform device.

Here's the quick math: The company's market capitalization is currently around US$1.075k as of October 2025, reflecting the wind-down of operations following the Chapter 11 filing in May 2023 and the subsequent asset sale. This is defintely a key risk for any investor looking at the legacy entity.

Official mission statement

The formal mission, prior to its major operational changes, was grounded in patient-centric innovation and education. This was the guiding principle behind their commercialization strategy for the Viveve System and its Geneveve™ treatment.

• Advance women's intimate health globally with clinically proven, innovative, energy-based solutions.
• Provide women with low risk, high reward medical procedures that promote personal health and wellness.
• Commit to innovative technological advances and broad, elucidating education for medical and lay audiences worldwide.

Vision statement

The company's long-term aspiration was ambitious-to become a recognized leader in a niche but growing medical device sector. This vision now rests with InMode Ltd., which acquired the intellectual property (IP) assets in early 2024, continuing the technology's potential realization.

• Be recognized as a global leader in developing and commercializing novel applications of its proprietary radiofrequency technology for women's intimate health.
• Transform the standard of care for conditions like vaginal laxity using its patented CMRF technology.

Viveve Medical, Inc. slogan/tagline

A specific, widely recognized, and formally documented company slogan or tagline for Viveve Medical, Inc. from its operational period is not prominently available in public records. The company's branding focused more on the product name, Geneveve™, and the clinical benefits of the procedure, which emphasized a safe, non-surgical approach to a common medical condition. You can learn more about its strategic direction at Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE).

Viveve Medical, Inc. (VIVE) How It Works

As of November 2025, Viveve Medical, Inc. is no longer an operating business; its core assets, including the Viveve System, were acquired by InMode Ltd. in early 2024 following a Chapter 11 bankruptcy filing in late 2023, which was later converted to a Chapter 7 liquidation. To understand the VIVE ticker's story and its former business model, you must look at how the company historically generated revenue by selling a capital equipment system and then securing a recurring revenue stream from disposable treatment tips.

Given Company's Product/Service Portfolio (Historical)

Viveve Medical historically operated in the medical technology space, focusing on women's intimate health. Its portfolio centered around a proprietary technology that formed a classic 'razor-and-blade' business model.

Given Company's Operational Framework (Historical)

The company's historical operational framework was built on a capital equipment sales model, which then fed a consumable-based revenue stream. This is the classic 'razor-and-blade' approach: sell the expensive machine (the razor) and profit from the required, disposable parts (the blades). Honestly, it's a smart structure for med-tech if you can get the installed base right.

• Value Creation: The primary value was created through the sale of the initial Viveve System, followed by the high-margin, recurring sale of the single-use treatment tips.
• Manufacturing and Distribution: Manufacturing was typically outsourced to contract partners, keeping the company asset-light on the production side. Distribution was managed through a mix of direct sales teams and international distributors, with historical revenue showing a geographic split, such as $3.7 million from the United States and $2.65 million from the Asia Pacific region in a prior fiscal year.
• Revenue Generation: Revenue was contingent on physician adoption and patient procedure volume. The company had to continually invest in research and development (R&D) and clinical trials to support efficacy claims and gain regulatory approvals, a major cost center that ultimately strained its financial health.

Here's the quick math: A high upfront console price covered R&D and sales costs, but the real profitability hinged on the continuous, high-volume sale of those disposable tips. You can dive deeper into the financial history at Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

Given Company's Strategic Advantages (Acquired)

The strategic advantages that Viveve Medical developed, and which made its assets attractive to InMode Ltd., were primarily technological and clinical. What this estimate hides, though, is that these advantages no longer belong to the now-liquidating entity.

• Proprietary CMRF Technology: The patented Cryogen-cooled Monopolar Radiofrequency technology allowed for uniform volumetric heating to stimulate neocollagenesis (new collagen formation) while protecting the surface tissue with cooling. This was a key differentiator in the non-invasive women's health market.
• Single-Session Protocol: The Viveve System offered a single, in-office treatment session, which was a significant competitive edge over multi-session alternatives, improving patient convenience and compliance.
• Global Regulatory Footprint: The company had secured regulatory clearances in various global markets, including the U.S. Food and Drug Administration (FDA) clearance for use in general surgical procedures for electrocoagulation and hemostasis, which provided a platform for international sales.

The current reality is that Viveve Medical, Inc. is trading at distressed levels, with a market capitalization of only about $4.29K as of November 2025, reflecting its liquidation status, not a functioning business. The value now resides with the acquirer, InMode Ltd., who can defintely integrate the CMRF technology into their existing aesthetic platform.

Next step: Financial professionals should focus on the Chapter 7 trustee's final reports for any residual shareholder value.

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

Viveve Medical, Inc., historically generated revenue by selling its proprietary Viveve System, a capital equipment device, and the recurring, single-use treatment tips that were required for each patient procedure. This two-part model-often called the razor-and-blade strategy-was designed to shift the business from one-time equipment sales to a more predictable, high-margin consumables revenue stream.

However, you need to know the critical context: as of November 2025, Viveve Medical, Inc. is no longer an operating company. Following a Chapter 11 bankruptcy filing in late 2023, the company's key assets, including the Viveve System technology, were acquired by InMode Ltd. in early 2024. Therefore, the operational revenue for Viveve Medical, Inc. in the 2025 fiscal year is effectively $0 (zero), representing a complete business failure and liquidation.

Given Company's Historical Revenue Breakdown (Pre-2024)

The following table reflects the historical revenue model that drove the business before its liquidation, using the last available operational structure. The growth trend listed is based on the period leading up to the company's final operational year in 2023, where revenue was in rapid decline.

Here's the quick math on the model: The company's total revenue for the trailing twelve months (TTM) ending September 30, 2022, was approximately $6.83 million. Capital Equipment Sales, the one-time revenue from selling the console, was the larger component, estimated at 60% or about $4.1 million. Consumable Sales, the recurring revenue from the single-use treatment tips, made up the remaining 40% or about $2.7 million.

The consumable revenue stream was defintely the long-term goal. It was tied directly to procedure volume, meaning every one of the 895 installed systems worldwide needed a new, single-use tip for each patient, creating a high-margin, recurring income source.

Business Economics (The Flawed Model)

The core economic challenge for Viveve Medical was that its high operating expenses consistently outpaced the revenue generated by its razor-and-blade model. The cost structure was simply too high for the rate of system adoption.

• High Customer Acquisition Cost (CAC): Selling a capital equipment system to a physician (gynecologists, urologists) is expensive, involving a direct sales force, extensive training, and high marketing spend.
• Razor-Blade Margin Compression: While the consumable tips had a high gross margin, the company's overall gross profit was low, sitting at only 20% of revenue in Q1 2022. This indicated that the high cost of the initial equipment sale and low volume of consumables were crushing the overall profitability.
• Clinical Trial Drag: A major cost driver was the massive investment in research and development (R&D) for clinical trials, particularly the pivotal U.S. PURSUIT trial for stress urinary incontinence (SUI). These costs, which were necessary for broader market acceptance and regulatory approval, were too much for the sales revenue to cover.

The market opportunity was huge-estimated at a $6 billion to $8 billion total available consumable market worldwide for their initial treatment-but the company couldn't capture it fast enough to sustain its operations.

Given Company's Financial Performance (Pre-Liquidation)

The financial performance data for Viveve Medical, Inc. shows a classic case of a promising technology company that failed at commercialization and cash management, leading directly to its demise. This is the financial health you need to analyze: Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

• Revenue Decline: In the nine months ending September 30, 2023, the company reported a total revenue of only $3.6 million. This was a sharp drop from the $6.83 million TTM revenue reported just a year earlier.
• Net Loss: The company consistently reported substantial net losses. The net loss for the nine months ending September 30, 2023, was approximately $18.7 million. This demonstrates that operating expenses were nearly 5 times the revenue.
• Cash Burn: Cash and cash equivalents plummeted from $14.0 million at the end of Q1 2022 to a level that forced a Chapter 11 filing in late 2023. The company was burning through capital much faster than it could raise it or generate it from sales.
• Gross Margin: The Q1 2022 gross margin of 20% was far too low for a medical device company with a high-cost R&D and sales structure, indicating a fundamental flaw in the pricing or cost of goods sold (COGS) model.

The company's failure wasn't a lack of market need, but a mismatch between its cash-intensive operational costs and its actual sales execution.

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

Viveve Medical, Inc. no longer operates as an independent entity, having ceased operations following its Chapter 11 bankruptcy filing in late 2023 and the subsequent acquisition of its core intellectual property (IP) assets by InMode Ltd. The current VIVE stock, trading on the Pink Sheets, reflects this reality with a market capitalization of approximately $0 Million USD as of November 2025, a dramatic shift from its last reported Trailing Twelve Months (TTM) revenue of $6.82 Million USD before the operational wind-down. The future of the Viveve System technology is now entirely tied to InMode Ltd.'s strategic integration and commercialization efforts within the broader women's health market.

Competitive Landscape

The competitive landscape analysis for Viveve Medical, Inc. must be viewed through a historical lens, as its patented technology is now a component of a larger competitor's portfolio. The company's final independent market share was negligible, but its Cryogen-Cooled Monopolar Radiofrequency (CMRF) technology remains a distinct, high-value asset in the energy-based aesthetic device market.

Opportunities & Challenges

For investors still holding the residual VIVE stock, the risks are existential, but the underlying technology's opportunities now benefit InMode Ltd. Here's the quick math: the potential value is in the recurring consumables revenue the Viveve System can generate under a well-capitalized owner.

Industry Position

The independent Viveve Medical, Inc. is no longer a player in the women's intimate health device industry; it is a historical footnote whose technology has been absorbed by a market leader. This is a common end for small-cap medical device companies that fail to convert clinical data into sustainable commercial scale.

• Technology Survival: The Viveve System's core Cryogen-Cooled Monopolar Radiofrequency (CMRF) technology, known for its single-treatment efficacy for vaginal laxity, is the only asset to survive the bankruptcy.
• Market Shift: The broader energy-based aesthetic devices market is estimated to be valued at $20.62 Billion USD in 2025 and is shifting toward combination treatments and holistic women's wellness solutions.
• New Owner's Strength: The IP is now backed by InMode Ltd.'s financial strength and established global distribution, which should accelerate the technology's reach far beyond what the former company could achieve.
• Investor Reality: For the residual VIVE stock, the position is one of liquidation, not recovery.

You can dive deeper into the strategic framework that guided the company's initial vision by reviewing the Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE).