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Sanomedics Signs Definitive Agreement for Acquisition of a prominent Texas based Sleep Services company.
Date:7/11/2013

MIAMI, July 11, 2013 /PRNewswire/ -- Sanomedics International Holdings, Inc. (OTCQB: SIMH) ("Sanomedics"), a medical technology company that focuses on market expanding products and services announced that it has entered into a definitive agreement to acquire its 2nd sleep services based company in Duke Medical LLC, of Baytown, Texas ("Duke") for an aggregate purchase price of $7,000,000, which includes cash, the issuance of common shares of Sanomedics and debt consideration (subject to certain adjustments as set forth in the agreement). The transaction is expected to close during Sanomedics' fiscal third quarter ending September 30, 2013, and is subject to customary closing conditions as set forth in the agreement. Duke generated approximately $4 million in annual revenue with EBITDA of $1.5 million in 2012, and is on target to increase EBITDA close to $2 million this year based upon representations.

Duke Medical LLC, is a leading respiratory and sleep disorder provider of treatment equipment and services. It provides medical supplies to patients with sleep apnea with products such as CPAP/BiPAP, respiratory equipment, nasal and oral masks, and pulse oximeters, Duke Medical services patients throughout the Houston and Galveston, Texas and aggressively expanding throughout the state. The Texas Medical Center is home to 50 institutions including 14 hospitals and two specialty institutions. Since its inception, Duke has maintained the requisite licensure as a qualified Medical Equipment provider from the State of Texas.

The management team of Duke will continue to operate the day-to-day business as a wholly owned subsidiary of Anovent, Inc. ("Anovent"), which is a wholly owned subsidiary of Sanomedics.

Duke's leadership team has combined industry experience of over 34 years. Duke is led by '/>"/>

SOURCE Sanomedics International Holdings, Inc.
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