Tag: Sanomedics
Sleep Nation, Sanomedics fuel market activity
September 24, 2013Theresa Flaherty, Managing Editor
MIAMI - Although the sleep space remains attractive, there hasn't been much buying and selling activity in recent months, say analysts, with a few exceptions.Leading the pack: Sleep Nation, which completed its 43rd acquisition in August. The provider, which formed in May 2012, accepted contracts nationwide in Round 2 of competitive bidding.“There's a growing number of focused sleep companies that don't really care at all about any of the other HME,” said Jonathan Sadock, managing partner...
In brief: Prodigy responds to FDA, Sunrise launches program
September 6, 2013HME News Staff
CHARLOTTE, N.C. - Prodigy Diabetes Care has conducted a regulatory assessment by an independent auditor to examine, review and revise certain procedures and training to ensure compliance with FDA requirements, it told patients, caregivers and partners in a Sept. 4 letter.
“Prodigy assures you that this attention to improvement is an ongoing effort to ensure full compliance,” stated CEO Richard Admani in the letter.
In a Feb. 22 letter, the FDA warned Prodigy about numerous violations,...
Sanomedics finishes Prime Time buy
September 3, 2013HME News Staff
MIAMI - Medical technology holding company Sanomedics has completed its acquisition of Largo, Fla.-based Prime Time Medical Inc. for $3.1 million. “The completion of this acquisition marks a significant milestone in Sanomedics' high-growth strategy of acquiring and integrating positioned medical equipment providers in today's ever-demanding sleep apnea vertical,” stated Keith Houlihan, co-founder and president of Sanomedics, in a Sept. 3 press release. The acquisition was effective Aug....
Sanomedics receives financing for deals
August 26, 2013HME News Staff
MIAMI - The medical-technology holding company Sanomedics International Holdings Inc. announced Aug. 26 that it has received $5 million in funding to put toward working capital and the completion of a pair of targeted acquisitions. The financing breaks down to a $3 million revolving line of credit and a $2 million term loan. “This financing is a major step in our success and a further endorsement of the plans we have for the future,” said Keith Houlihan, Sanomedics co-founder and president,...
In brief: Stakeholders to shut down switchboards, Sanomedics to buy sleep provider
July 12, 2013HME News Staff
ALEXANDRIA, Va. - With Round 2 of competitive bidding now underway, industry stakeholders plan to crank up the pressure on lawmakers with a virtual fly-in July 18. AAHomecare is coordinating efforts with The VGM Group, The MED Group and state associations across the country to get providers and their patients to phone, fax or call lawmakers to report problems they've encountered since the program kicked off July 1. Only a few weeks into the program, stakeholders are hearing reports of equipment delays...
Sanomedics to buy sleep provider for $7M
July 11, 2013HME News Staff
MIAMI - Sanomedics International Holdings has entered into a definitive agreement to acquire its second sleep services business, Baytown, Texas-based Duke Medical, for $7 million. Duke Medical generated about $4 million in revenue and an EBITDA of $1.5 million in 2012, and is on target to hit an EBITDA of $2 million this year. Duke Medical provides medical products and supplies to patients with sleep apnea throughout Houston and Galveston. Vann Duke, who has held positions at Rotech Healthcare, Apria...
In brief: Sanomedics buys Prime Time, PE firm backs AxelaCare
April 19, 2013HME News Staff
MIAMI - Sanomedics International, a medical technology holding company, has acquired Prime Time Medical, a Largo, Fla.-based HME provider, for $3 million, according to a press release. The acquisition is Sanomedics' third in the HME industry. “Prime Time Medical is another step in our continual process of expanding our portfolio while we implement our growth strategy,” stated Keith Houlihan, co-founder and president of Sanomedics. Sanomedics seeks to acquire sleep therapy operating...