SOURCE: Graymark Healthcare, Inc.

Graymark Healthcare, Inc.

December 02, 2011 10:03 ET

Graymark Healthcare Signs Milestone 100th Sleep Center Agreement

Company Partners With Spencer Hospital of Spencer, Iowa to Offer Comprehensive Sleep Care

OKLAHOMA CITY, OK--(Marketwire - Dec 2, 2011) - Graymark Healthcare, Inc. (NASDAQ: GRMH), the nation's second largest provider of diagnostic sleep services and an innovator in comprehensive care for obstructive sleep apnea (OSA), has partnered with Spencer Hospital of Spencer, Iowa to offer comprehensive sleep medicine services to city residents and the surrounding areas.

The agreement represents Graymark's 100th sleep laboratory nationwide, consisting of 24 standalone or IDTF facilities in large communities and 76 hospital or rural outreach locations. Spencer Hospital increases the total number of new hospital partnership contracts for Graymark to 14 so far in 2011, compared to 11 total partnerships signed in all of 2010.

"Our partnership with Spencer Hospital builds on our existing operations in the Iowa area and highlights the increasing demand for sleep medicine in rural communities, particularly for the diagnosis and treatment of OSA," said Stanton Nelson, CEO of Graymark Healthcare. "The partnership reflects our commitment to delivering sleep medicine to rural communities that may not otherwise have practical access to comprehensive sleep care."

These sleep medicine programs augment the company-owned, freestanding facilities, and represent Graymark's go-to-market strategy due to the relatively low start-up cost and more rapid deployment, as well as lower ongoing administrative time and expense. Graymark's OSA patients also benefit from the full and immediate resources of a well-established, professionally operated medical facility.

Steve Deutsch, vice president of operations at Spencer Hospital, commented: "Spencer Hospital is excited about the opportunity to work with somniTech and Graymark Healthcare in furthering our sleep disorders testing and treatment program. We are a 99 bed community hospital and have been providing sleep medicine services since 2006. The partnership with somniTech and Graymark Healthcare will greater expand our capacity to serve our growing community."

To find out more or to locate a sleep center near you, visit www.graymarkhealthcare.com.

About Spencer Hospital
Spencer Hospital is located in Spencer, Iowa, employing 539 full and part-time co-workers. Adjoining the hospital is the Abben Cancer Center, providing complete cancer treatment and care including radiation therapy, chemotherapy, and support services.

About Graymark Healthcare
Headquartered in Oklahoma City, Okla., Graymark Healthcare, Inc. (NASDAQ: GRMH) is the nation's second largest provider of sleep management solutions. In addition to diagnosing and treating over 80 sleep disorders, the company specializes in comprehensive care for Obstructive Sleep Apnea (OSA). Graymark offers its services through 100 sleep laboratories primarily in the Midwest, including standalone or IDTF facilities, therapy facilities, rural outreach hospital sites and urban hospital management agreements. For more information, visit www.graymarkhealthcare.com.

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on the Company's current expectations, forecasts and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the Company's expectations, forecasts and assumptions. These risks and uncertainties include risks and uncertainties not in the control of the Company, including, without limitation, the risk that the transaction does not close as planned or at all, the current economic climate and other risks and uncertainties, including those enumerated and described in the Company's filings with the Securities and Exchange Commission, which filings are available on the SEC's website at www.sec.gov. Unless otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Company Contact:
    Graymark Healthcare, Inc.
    Stanton Nelson
    Chairman and CEO
    Tel 405-601-5300

    Investor Relations:
    Liolios Group, Inc.
    Scott Liolios or Cody Slach
    Tel 949-574-3860
    Email Contact