Sanomedics Announces Move Into DME and Sleep Market

Sanomedics International Holdings Inc. announced last week it was signing a letter of intent to acquire an unnamed durable medical equipment provider with a platform in sleep apnea treatment services.

The acquisition has a strong patient base and consistent growth through the last five years within the sleep disorder treatment market. It also offers a wide array of DME and supplies and more than 30 contracts with skilled nursing facilities, according to a company press release.

“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,” Sanomedics chairman and co-founder, Craig Sizer said in a press release.

Sanomedics manufactures and distributes professional medical and home health diagnostic devices and products.