Sleep Nation, Inc., a national provider of CPAP supplies, today announced it has made its 43rd acquisition of CPAP business since its inception in May 2012. The asset purchase also marks the 38th made in 2013 alone as Durable Medical Equipment (DME) companies continue to sell their assets due to changing industry dynamics. Sleep Nation, through its wholly owned subsidiary, CPAP Care Club, is executing on the opportunity to grow in the expanding sleep apnea market through acquisitions.
“These acquisitions are providing us the scale to grow our business rapidly. Our team has done an admirable job integrating these acquisitions while providing great patient care,” said Richardson M. Roberts, CEO of Sleep Nation. “We provide an alternative for DME’s that either did not win Medicare competitive bidding, need capital to grow other product lines or don’t have the software systems to handle their patient bases profitably in a re-imbursement environment that demands increased efficiency.”
“We have invested significant resources into our platform’s systems and now are starting to reap benefits as we spread our fixed costs over more and more orders,” said Roberts. “We believe our patients will notice the difference as our associates are able to respond quickly to their needs. Plus, we can interact with an increased number of patients while maintaining a personal touch.”
In addition, Sleep Nation has added insurance contracts that cover another 26 million patients in 2013 and the Company is in-network with health plans comprising 192 million lives in total. “With many DME’s projected to go out of business due to Medicare’s competitive bidding program, patients run the risk of having difficulty finding a provider who is in-network with their insurance,” said Roberts. “We are working diligently with health plans to provide high quality services to their members.”