SOURCE: Graymark Healthcare

Graymark Healthcare

September 07, 2011 10:31 ET

Graymark Healthcare to Acquire Village Sleep Center of Plano, Texas

Company to Offer Comprehensive Care for Sleep Apnea to Plano Area Residents

OKLAHOMA CITY, OK--(Marketwire - Sep 7, 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 signed a non-binding letter of intent to acquire the majority interest in Village Sleep Center of Plano, Texas, which offers sleep medicine services to city residents and the surrounding area.

According to Stanton Nelson, chairman and CEO of Graymark Healthcare: "Village Sleep Center adds to our existing operations in the Dallas Fort Worth market and is in line with our strategy of aggregating well-run sleep centers in the diagnostic and treatment space. We look forward to serving those in Plano who need and deserve the best treatment for their sleep disorders."

The company expects the acquisition to close as planned within the next 45 days subject to customary closing conditions. With this acquisition, Graymark will be operating a total of 100 sleep laboratories nationwide, comprised of 23 standalone facilities in large communities and 77 hospital, provider or rural outreach sites. While the type of facility may vary based on community need, Graymark ensures that the quality and comprehensiveness of the services provided remain consistently at the highest standard.

"With Graymark's state-of-the-art approach producing an industry-leading compliance rate, we believe our patients will benefit from the most effective sleep care program available today," said Dr. Christopher Crow, managing partner of Village Sleep Center and practicing family physician.

Graymark is dedicated to treating the full range of sleep disorders, including narcolepsy, insomnia, and restless leg syndrome, and specializes in the treatment of sleep apnea, a disorder characterized by abnormal pauses in breathing. Each pause or "apnea" can last from a few seconds to minutes, and can occur from five to more than 30 times per hour. OSA is the most common form of apnea and occurs when the soft tissue in the airway obstructs breathing. The proper diagnosis and treatment of OSA is critical due to the many significant associated health risks, including stroke and cardiac disease.

Graymark Healthcare's effective five step clinical approach to managing sleep disorders includes a convenient referral process, accurate and timely assessment, diagnosis, treatment and long-term follow-up to maximize patient compliance. All steps are managed by a board certified Sleep Medicine physician. To find out more or to locate a sleep center near you, visit www.graymarkhealthcare.com.

About Village Sleep Center
The Village Sleep Center, located within Legacy Medical Village, helps patients overcome sleep conditions that interfere with the ability to get a good night's sleep, a vital component to a healthy life. The center studies, diagnoses and treats patients with sleep conditions including Obstructive Sleep Apnea, Restless Legs, Periodic Limb Movements, Narcolepsy, Insomnia and REM Behavior Disorders. Patients are cared for in a comfortable environment by technicians who work closely with doctors to diagnose and treat sleep disorders. For more information visit www.legacymedicalvillage.com/sleep-center.htm or call (972) 792-2775.

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 throughout the United States, including standalone or IDTF facilities, rural outreach sites and hospital or provider 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