Sanomedics To Acquire Sleep Apnea Treatment Service
In a shrewd execution of its business plan and growth strategy, Craig Sizer, Co-founder and Chairman, with Keith Houlihan, Co-founder and President of Sanomedics International Holdings Inc. announced the signing of a letter of intent to acquire a strategically targeted durable medical equipment (DME) provider with a platform in sleep apnea treatment services. The targeted acquisition is accredited by the “Healthcare Quality Association.” The operation with approximately $6 million in revenues and over $1 million in (EBITDA) earnings before interest, taxes, depreciation and amortization is expected to close in early 2012 upon the completion of due diligence and Sanomedics board approval.
“The acquisition of a sleep treatment service based operations is an important step in the growth of Sanomedics, as well as for the distribution and sales expansion of our ThermoMedics line of non-contact clinical thermometers,” said Craig Sizer Chairman and Co-founder.
The targeted acquisition has a strong patient base and consistent growth over the last five years within the sleep disorder treatment market. It also offers a wide array of durable medical equipment and supplies and over 30 contracts with skilled nursing facilities which manages healthcare for a rapidly aging population.
“This acquisition is the first step in our strategy as a sleep medicine based business, it is a first class operation, with values that fit well with our business growth objectives,” said Keith Houlihan, Co-founder and President. “As a pioneer in developing innovative health solutions, this acquisition is a bridge between the high-technology medical world and the growing home healthcare environment.”
Tagged with: acquisition • non-contact clinical thermometers • sanomedics • Sleep • Sleep Apnea • Sleep Apnea Treatment • sleep apnea treatment services • sleep disorder treatment market • Sleep Medicine
Filed under: Obstructive Sleep Apnea • Press Release • Sleep • Sleep Apnea • Sleep Apnea Awareness • Sleep Apnea Devices • Sleep Apnea Events • Sleep Apnea Markets • Sleep Apnea News • Sleep Apnea Treatment • Sleep Disorders • Sleep Medicine • Sleep Problems
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