SOURCE: Sleep Holdings, Inc.

November 29, 2006 09:00 ET

SLEEP HOLDINGS, INC. to Acquire Another Facility -- National Sleep Centers, Inc. in Austin, Texas

Acquisition Expected to Broaden National Corporate Exposure While Expanding Localized Recognition

DALLAS, TX -- (MARKET WIRE) -- November 29, 2006 -- SLEEP HOLDINGS, INC. (PINKSHEETS: SLHJ) Chairman and CEO Roy Mers announced today that SLEEP HOLDINGS, INC. has entered into a letter of intent to acquire National Sleep Centers, Inc., located at 3500 Oakmont Blvd., Suite #200 Austin, Texas 78731. National Sleep Centers, Inc. is a state-of-the-art sleep diagnostic center and sleep-related medical equipment provider that is headed and owned by Debbie Downey, RRT, RPSGT (Registered Polysomnographic Technologist) who started the company 5 years ago. Mrs. Downey says, "We are looking forward to the many opportunities for growth and development that SLEEP HOLDINGS can offer. With the new teamed effort and capital infusion we are hoping to implement ourselves as a more integral part of the community; to expand awareness and resolutions for both the professional medical community and general population looking to us to meet their needs in sleep medicine."

Mrs. Downey says that "this is a marvelous business, in a great location at an opportune time. The Austin location has been in operation for 5 years." Mrs. Downey further states that "this is a tremendous opportunity for National Sleep Centers, Inc.'s growth into other markets and I believe this will be a great marriage with SLEEP HOLDINGS and its team of professionals, as they implement their growth strategy in the sleep disorders, medicine, diagnostic and therapeutic business." SLEEP HOLDINGS is currently finalizing a definitive agreement to purchase National Sleep Centers, Inc.

Commenting on the proposed acquisition, Mr. Mers said, "Mrs. Downey has built a quality and stabilized business, with an established client base and a seasoned staff in an industry that SLEEP HOLDINGS has a strategic interest in. We are excited about the opportunity to work with Mrs. Downey and her staff of experienced professionals."

In further response to the proposed acquisition, Mrs. Downey said, "We here at National Sleep Centers, Inc. have found a great partner in SLEEP HOLDINGS with impressive resources, expertise, and commitment to the sleep diagnostic industry. Their credentials will serve us well as we continue to offer quality service to our clients."

The Business

SLEEP HOLDINGS is a healthcare service provider focused on the rapidly growing market of sleep medicine. The Company is seeking out prospective sellers of sleep diagnostic centers in various markets within the United States and developing relationships necessary to acquire and fully develop sleep diagnostic centers.

The Strategy

SLEEP HOLDINGS intends to grow its revenues by (i) acquiring small independent sleep centers and corporate-owned diagnostic centers, (ii) opening new freestanding sleep centers, (iii) opening new hospital-based sleep centers under our management in conjunction with hospital partners, (iv) providing management services and technical support for sleep disorder centers and (v) increasing the Company's internal sales and rental volumes of sleep-related medical equipment.

SLEEP HOLDINGS' mission is to provide innovative solutions to patients suffering from sleep disorders. We strive to provide the highest standard sleep studies, medical directorship, patient education, and therapeutic recommendations in order to assist patients with an overall improved quality of life.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties.

Contact Information

  • Contact:
    Investor Relations
    (214) 952-4373