Philips buys Australian pharmacy sleep services provider
AMSTERDAM, the Netherlands, and SYDNEY – Royal Philips has signed an agreement to buy Australian Pharmacy Sleep Services, in a move that the company says will accelerate its home sleep testing offering through the pharmacy channel in Australia.
“With the addition of APSS to our sleep and respiratory care business in Australia, Philips will be able to provide better access to home sleep testing for those who need it, where and when they need it,” said Kevin Barrow, managing director at Philips Australia and New Zealand.
APSS, founded in 2011, offers a sleep apnea program for pharmacies that includes screening, home-based sleep studies based on CPAP therapy, training and services.
The retail pharmacy market provides a convenient and central local access point to offer simple and effective sleep screening, Philips says.
“This screening is aimed at assessing sleep quality and determining if subsequent sleep treatment may be required,” it stated in a press release. “APSS works closely with medical professionals for assessment and diagnosis of sleep problems, and subsequent sleep treatment.”
Philips expects to complete the transaction in the second quarter of 2017. It will not disclose financial details.