Sanomedics International Holdings Inc. Signs Letter of Intent to Acquire East Coast Based Durable Medical Equipment Business
Published: Dec 19, 2011
MIAMI, Dec. 19, 2011 /PRNewswire/ -- (Pink Sheets: SIMH) Sanomedics continues its planned growth strategy into the expansive sleep apnea treatment market by the signing of a letter of intent with an acquisition target on the east coast to complement its recently announced proposed acquisition on the west coast last week. The proposed east coast transaction is expected to close by early 2012. The acquisition is subject to, among other things, the successful completion of due diligence as well as the negotiation and execution of definitive agreements.
The operation is geographically well positioned for Sanomedics planned growth on the east coast and into its home market of Florida with sleep treatment devices and services. The target company has grown rapidly in recent years with revenue over $2 million (profitable operations) and, following the completion of the acquisition, it is expected to continue its growth projections under the management of Sanomedics with its focus on sleep treatment devices and services.
Sleep related disorders are getting a lot of attention in the clinical and consumer communities these days, and in particular, interrupted sleep (Sleep Apnea). Studies published in the New England Journal of Medicine (NEJM) demonstrated that patients with sleep apnea have a heightened risk of heart disease and other related health risks. By far, the largest and fastest growing segment of the sleep apnea market is treatment products. These represented 80% of the overall multi-billion dollar market, with the largest treatment segment being positive airway pressure devices. The market for these devices and services is forecast to grow considerably over the next five years, according to reports.
"The acquisition of a regionally established sleep treatment based operation is an important step in the national growth of Sanomedics," said Keith Houlihan, Co-founder and President.
Sanomedics International Holdings, Inc. (SIMH) manufactures and distributes innovative professional medical, as well as, home health diagnostic devices and products. As a pioneer in the trend toward preventive medicine, Sanomedics' goal is to act as a bridge between the high-technology medical world and the home healthcare environment. All Sanomedics professional and home healthcare diagnostic products are extremely easy to use, while providing accurate results in less than one second.
Forward Looking Statements
This press release may contain statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the intent belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties (i.e., the proposed acquisition may not be completed), and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The Company's periodic filings with the Securities and Exchange Commission should be viewed for a complete understanding of risk and uncertainty.
©2011 Sanomedics International Holdings Inc. All rights reserved. www.sanomedics.com
Co-Founder and President
SOURCE Sanomedics International Holdings, Inc.