Continucare's wholly-owned subsidiary, Seredor has acquired Precision Diagnostic Services and SleepEasy Therapeutics, two related entities based in North Dakota to expand its sleep service business.
Precision Diagnostic Services operates 47 sleep diagnostic centers in eight states primarily in the Upper Midwestern US and of the centers, 44 are hospital based locations operated under management agreements and three are independent company owned centers.
SleepEasy Therapeutics provides continuous positive airway pressure (CPAP) devices and supplies at Precision Diagnostic Services’ independently operated sleep centers and at a retail-type store.
Continucare chairman and chief executive officer Richard Pfenniger, said that the addition of Precision Diagnostic Services and SleepEasy Therapeutics expands Seredor’s sleep service activities and they continue to view sleep services as a promising area with attractive growth prospects and intend to pursue additional acquisitions in this highly fragmented market.