Navigation Links
Sanomedics Announces Completion of Prime Time Medical Acquisition
Date:9/3/2013

MIAMI, Sept. 3, 2013 /PRNewswire/ -- Sanomedics International Holdings, Inc. (OTCQB: SIMH) ("Sanomedics"), a medical technology holding company that focuses on game-changing products, services and ideas, today announced that it has completed the previously announced acquisition of Prime Time Medical, Inc., of Largo, Florida ("Prime Time") for a total purchase price of $3,100,000, effective August 30, 2013. The closing price was amended to include the issuance of 531,250 common shares of Sanomedics, $1 million in debt, and $1,250,000 cash consideration with $400,000 paid through closing and the balance of $850,000 in a promissory note payable within 30 days.

Keith Houlihan, Co-founder and President of Sanomedics, stated, "We are very excited about this acquisition, as the completion of this acquisition marks a significant milestone in Sanomedics' high growth strategy of acquiring and integrating positioned medical equipment providers with Anovent in today's ever demanding Sleep Apnea vertical."

About Sanomedics International Holdings, Inc.

Sanomedics International Holdings, Inc. (OTCQB: SIMH) is a medical technology holding company that focuses on game changing products, services and ideas – a place where physicians, entrepreneurs, and medical companies can work together to drive innovative technologies through concept, development, and ultimately commercialization. We plan to grow our existing business organically and through strategic acquisitions specifically relating to sleep disorder diagnosis treatments. Sanomedics seeks to acquire sleep therapy operating businesses and our strategy is to integrate a portfolio of world-class products and service providers in the growing Sleep Apnea market. Our goal is to provide Sleep Apnea patients with a reliable and integrated "end-to-end" service platform.

About Prime Time Medical, Inc.

Prime Time Medical, Inc., is a leading Durable Medical Equipment (DME) provider of home medical equipment with products such as power wheel chairs and scooters specializing in complex rehab products, respiratory equipment including oxygen concentrators and nebulizer compressors, diabetic supplies, hospital beds, bariatric equipment, walkers, CPMs, commodes, manual wheel chairs and support surface products for wound care management, servicing consumers throughout West Central Florida and aggressively expanding throughout the state.  

Health Care Facts:

  • Americans spent $2.6 trillion on health care in 2010 -- ten times more than in 1980. 
  • Home Health Care services as per May 2012 by The United States Department of Labor estimate that almost 3 million are employed full time in the United States. On a whole by 2020, the ranks of home health and personal care aides will have swelled by more than 6 million jobs from 2012, according to the Bureau of Labor Statistics and growing at twice the rate of the national economy.
  • About 4% of U.S. adults aged 20 and over used sleep aids in the past month.
  • One in six adults with a diagnosed sleep disorder and one in eight adults with trouble sleeping reported using sleep aids.

According to estimates, 50–70 million Americans suffer from sleep disorders or deprivation, which can not only hinder daily functioning, but can also adversely affect their health. (Reference: Yinong Chong, Cheryl D. Fryar, and Qiuping Gu are with the Centers for Disease Control and Prevention's National Center for Health Statistics, Division of Health and Nutrition Examination Surveys.)

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, 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.

Contact: Keith Houlihan, 305-433-7814, info@sanomedics.com


'/>"/>
SOURCE Sanomedics International Holdings, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Mr. William Lerner, Esq. nominated to the Board of Directors of Sanomedics International Holdings, Inc.
2. Sanomedics Signs Definitive Agreement to Acquire Prime Time Medical
3. Sanomedics Signs Definitive Agreement for Acquisition of a prominent Texas based Sleep Services company.
4. Sanomedics Receives Financing for Working Capital and Acquisitions
5. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
6. Young Innovations, Inc. Announces Record Sales and EPS for the Quarter Ended March 31, 2012
7. JDRF Announces Research Collaboration with Dexcom, Inc. to Develop "Smart Transmitter" Technology to Accelerate Artificial Pancreas Studies
8. Misonix Announces New Distribution Agreement For Panama
9. University of Maryland BioPark Announces MedImmunes Dr. Bahija Jallal as Newest Member of Board of Directors for UM Health Sciences Research Park
10. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
11. Boston Scientific Announces CE Mark and European Launch of Emerge™ PTCA Dilatation Catheter
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... LONDON , Feb. 11, 2016 The ... current and future adoption patterns on the usage of ... include the following: - Timeframe of liquid ... types—CTCs, ctDNA, cfDNA and Evs—by organization type - Sample ... sample types: blood, saliva, stool, serum, and so on. ...
(Date:2/11/2016)... , Feb. 11, 2016 ... commonly used in laboratories. These may range from microscope ... Laboratory glassware is made from borosilicate glass because of ... plasticware, on the other hand, started gaining popularity over ... was easier to replace glass with plastic in several ...
(Date:2/11/2016)... DUNKIRK, N.Y. , Feb. 11, 2016  Governor ... Athenex that will create 1,400 jobs throughout ... by a partnership with the SUNY Polytechnic Institute, includes ... the Conventus Building in Buffalo , ... square foot manufacturing facility in Dunkirk ...
Breaking Medicine Technology:
(Date:2/12/2016)... ... February 12, 2016 , ... ... at Zuckerberg San Francisco General Hospital on April 5-7. The series is a ... create new habits. The workshops cover a broad range of topics, including coaching ...
(Date:2/12/2016)... ... ... Every winter, someone is killed, injured or loses a home in an accident ... of the Allegheny Health Network, has partnered with Etna Volunteer Fire Department, and Monroeville ... , “Space Heaters Need Space” aims to bring awareness to the risks ...
(Date:2/12/2016)... ... February 12, 2016 , ... AssureVest Insurance Group, a ... initiating a charity drive that will raise funds earmarked to purchase computers and software ... Elementary School. , “My school is in a low-income area and has more than ...
(Date:2/12/2016)... ... ... Vail knee specialist Robert LaPrade, MD, PhD was named one of ... of physicians establishing, leading and partnering with ambulatory surgery centers across the United States. ... also known as an ASC, is a modern health care facility focused on providing ...
(Date:2/12/2016)... ... 12, 2016 , ... Young Asset Protection, a full service ... the latest charity campaign in their community enrichment program. Art Expression utilizes after-school ... cause are currently being accepted at: http://artexpressioninc.org/ . , Art Expression is ...
Breaking Medicine News(10 mins):