Covington Associates Announces Role in
Sleep HealthCenters Merger with REM Medical
September 28, 2009 – Boston, MA – Covington Associates announced today it acted as financial advisor to Sleep HealthCenters in its merger with REM Medical. Sleep HealthCenters is the largest provider of sleep medicine services in New England.
REM Medical Corporation, headquartered in Seattle, delivers comprehensive sleep medicine services through its existing sleep medicine institutes and through employer driven programs. REM Medical operates primarily in the Arizona and Washington marketplaces.
The Sleep HealthCenters and REM Medical union provides a bi-coastal presence of leading, accredited, comprehensive centers for the diagnosis and treatment of sleep disorders. At a single site, patients can receive specialized physician evaluation and consultation, state of the art in-laboratory or at-home diagnostic testing, initiation of treatment including positive airway pressure devices, and long-term follow-up and case management.
“The REM Medical and Sleep HealthCenters merger is the beginning of a focused strategy to provide a national network of high-quality, comprehensive sleep medicine centers,” said Paul Valentine, Chief Executive Officer for Sleep HealthCenters. “Creative clinical programs allow us to provide access to treatment both within our facilities and through strategic relationships. We embrace our role as a market leader and will continue to establish benchmarks for clinical excellence in sleep medicine.”
Tom Cibotti, Managing Director at Covington Associates, commented, “The merger of Sleep HealthCenters and REM Medical strongly positions the combined entity as a market leader in the diagnosis and treatment of sleep disorders.”
About Sleep HealthCenters
Sleep HealthCenters was founded in 1997 and is a network of specialized sleep medicine centers accredited by the American Academy of Sleep Medicine and staffed by board-certified sleep specialists. Providing a comprehensive care solution for the diagnosis and treatment of sleep disorders while raising the awareness about sleep, sleep disorders and issues impacting sleep, Sleep HealthCenters helps patients improve and enhance their health and quality of life.
Sleep HealthCenters currently operates fifteen facilities in Massachusetts, New York and Rhode Island and is affiliated with academic medical institutions such as Brigham and Women’s Hospital and Beth Israel Deaconess Medical Center.
For more information about Sleep HealthCenters, visit www.sleephealth.com.
About Covington Associates
Covington Associates is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare, and technology companies throughout the country. Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to nearly $2 billion for both private and publicly traded companies.