05.14.13
Sanomedics International Holdings Inc., a Miami, Fla.-based maker of devices for the treatment of sleep disorders, has agreed to a deal to buy Prime Time Medical Inc., a home medical equipment provider based in Largo, Fla. The acquisition is valued at $3 million.
Sanomedics did not disclose how it will fund the acquisition.
Prime Time’s revenue for fiscal year 2012 was approximately $5 million.
“Prime Time Medical . . . is another step in our continual process of expanding our portfolio while we implement our growth strategy,” said Keith Houlihan, Sanomedics’ co-founder and president. “This acquisition is highly complementary to our business and furthers our ability towards a national expansion of our services. We look forward to the assistance of the management of Prime Time in implementing our core strategy.”
Sanomedics aims to build its portfolio of sleep apnea products, which fall under home medical equipment. Sanomedics has two subsidiaries: Anovent and Thermomedics. The former focuses on ear, nose and throat treatments for sleep disorders; the latter on diagnostic equipment.
Sanomedics did not disclose how it will fund the acquisition.
Prime Time’s revenue for fiscal year 2012 was approximately $5 million.
“Prime Time Medical . . . is another step in our continual process of expanding our portfolio while we implement our growth strategy,” said Keith Houlihan, Sanomedics’ co-founder and president. “This acquisition is highly complementary to our business and furthers our ability towards a national expansion of our services. We look forward to the assistance of the management of Prime Time in implementing our core strategy.”
Sanomedics aims to build its portfolio of sleep apnea products, which fall under home medical equipment. Sanomedics has two subsidiaries: Anovent and Thermomedics. The former focuses on ear, nose and throat treatments for sleep disorders; the latter on diagnostic equipment.