Dalrada Corporation announced it has entered into a deal to acquire sleep apnea solutions provider Advanced DME Services Inc, doing business as Advanced Homecare.
Founded in 2005, Advanced Homecare has served around 40,000 patients with obstructive sleep apnea.
In a statement, San Diego-based Dalrada said that the deal would create a new subsidiary within the company’s asset portfolio and create new synergies for its Dalrada Health division.
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Advanced Homecare, meanwhile, would be able to reach national clients and execute its “aggressive” growth plans, according to Dalrada.
Advanced Homecare serves patients with obstructive sleep apnea through a unique and exclusive concierge-type service experience for streamlined sourcing of CPAP (Continuous Positive Airway Pressure), APAP (Automatic Continuous Positive Airway Pressure), BiPAP (BiLevel CPAP), Adaptive Servo Ventilation, and BiLevel ST equipment and replacement supplies.
Advanced Homecare operates in partnership with physicians, clinics, hospitals, and sleep centers, Dalrada told shareholders. Its revenues have grown organically and consistently increasing year-over-year: in 2020, the company posted US$10 million in sales.
"For Dalrada, the acquisition of AHC aligns perfectly with making a difference in people's lives through awareness, education, and streamlined healthcare solutions,” CEO Brian Bonar told investors.
Advanced Homecare CEO Gabe Quintanilla added that the acquisition by Dalrada Health “paves the way for expansion into every major city in the US to help sleep apnea patients on a national level."
No financial terms were disclosed. Dalrada said it plans to complete a stock purchase and cash agreement within the next four weeks.
Contact Angela at angela@proactiveinvestors.com
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