NASHVILLE, TN – Sleep Nation Inc picked up another CPAP business last week, the 43rd such acquisition in the nationwide provider’s 16-month history. Billed as a “national provider of CPAP supplies,” the asset purchase marked the company’s 38th purchase in 2013 as DME companies “continue to sell their assets due to changing industry dynamics.”
According to a company press release, Sleep Nation, through its wholly owned subsidiary, CPAP Care Club, is executing on the opportunity to grow in the expanding sleep apnea market.
“These acquisitions are providing us the scale to grow our business rapidly,” said Richardson M. Roberts, CEO of Sleep Nation. “We provide an alternative for DMEs 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 reimbursement environment that demands increased efficiency.”
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 DMEs 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.”