SleepApneaDisorder/[Press Release]/OKLAHOMA CITY/Graymark Healthcare, Inc. has been concluded previously announced the sale of substantially all the assets of its retail pharmacy ApothecaryRx is Walgreens co. ApothecaryRx operated 18 pharmacies in five States.
Transaction allows you to concentrate on their main activity in the provision of comprehensive care for sleep disorders, especially obstructive sleep apnea, including diagnosis, therapy, and ongoing support of the clinical and product Graymark.
"Millions of Americans suffer from obstructive sleep apnea and many are not aware they have a problem, or that is available in their communities," said Stanton Nelson, Chairman and CEO Graymark health care. "As a pure play of sleep disorders, the company has focused mainly on the obstructive sleep apnea, we believe that it is better able to Graymark help people sleep better."
The first model of comprehensive country Graymark care for patients with obstructive sleep apnea in 2009 and expanded into one of the nation's largest aggregators sleep therapy providers.
"Given our substantially better balance of sale, we are ideally located on the our plans to expand through acquisition of treatment centres, as well as through the development of alliances with other hospitals and other healthcare providers," added Nelson. "Rapidly growing sleep apnea market offers us the opportunity for significant growth and margin expansion."
The sale was made up of Walgreens substantially all of the assets of ApothecaryRx 25.5 million USD, plus approximately $ 3.8 million of inventory. Graymark is expected that the net proceeds of approximately US $ 33 million from the divestiture is completed, including the collection of accounts receivable, and retained the proceeds of the liquidation of the remaining assets ApothecaryRx.
Healthcare investment banking group Morgan Joseph served as financial advisors, LLC to Graymark in this transaction with Greenberg Traurig LLP and Commercial Law Group, P.C. serving as legal advisor to the company Graymark.
About Graymark Healthcare
Graymark Healthcare, Inc. is the nation's second-largest provider of sleep medicine diagnosis and treatment. Graymark owns and operates the Centre, which can be considered diagnostic sleep a variety of sleep disorders and operated by the supply of medical equipment which provides one-time and permanent medical facilities.
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