Cape Medical Anchors Future with Seacoast Buy

SANDWICH, Mass. — With an eye toward further securing its
future in an increasingly shaky environment, Cape Medical Supply
has acquired six-year-old Seacoast Sleep Solutions of Kittery,
Maine.

The deal marries Cape Medical, a full-line HME serving all of
Massachusetts, with Seacoast, a regional provider of sleep therapy
products, home oxygen and HME for patients in northeastern
Massachusetts, southeastern New Hampshire and southern Maine.
Seacoast was founded in 2005 by a respiratory therapist who will
remain on staff.

“We continue to focus on aggressive growth strategies that will
produce sustainable gains for our customers and team members,” said
Gary Sheehan, Cape Medical CEO, in a release. “This was a dynamic
opportunity for us to produce material growth and diversify our
geographic reach and we are very pleased we were able to complete
the transaction.” Terms of the deal were not disclosed.

As part of the transaction, Cape Medical will rebrand Seacoast
Sleep Solutions as Seacoast Respiratory to better reflect its
breadth of products and services. All of Seacoast’s existing
employees will be retained, and Cape expects to hire additional
employees for the Kittery location and its Sandwich
headquarters.

This marks Cape’s first major acquisition since a 2005 purchase
of two home oxygen therapy business units from Cape Cod Healthcare.
Since, the company has focused on organic growth, opening new
retail facilities as well as a new patient service and
distribution center in the Greater Boston area in the fall of
2010.

According to Sheehan, the industry’s continuing challenges
mandate aggressive growth.

“We are excited for what the future holds for our organization
across New England and more confident today that we are properly
configured to succeed in an incredibly difficult and complex health
care regulatory landscape,” he said.