NST poised for growth
CONCORD, N.H. – After several years of focusing on technology, National Sleep Therapy (NST) wants to grow.
“There’s a bunch of smaller providers that haven’t been able to make the investment in technology that we have,” said Peter Falkson, CEO and co-founder of NST. “We have developed all these great systems using technology and now that it’s working we can use it with other providers.”
In September, the provider made its first acquisition, buying Rest Ensured Medical (REM) for an undisclosed sum. Like NST, REM is 100% focused on sleep, with a high level of customer service.
The deal will allow REM, a small national provider of CPAP and CPAP supplies, to use technology to achieve scale it otherwise couldn’t have, said its founder, Andrew Connor.
“Their use of technology not only supports and streamlines but allows to us maintain consistency and quality across a high volume,” he said. “The days of the single shop are numbered and we weren’t going to be able to handle the growth and some of the costs and challenges.”
NST has a proprietary software system that tracks patient data in real time and uses the popular iPad to educate patients on sleep therapy. The provider has a patient compliance rate of nearly 90%.
The acquisition of REM is just the start of a growth phase for NST, said Falkson.
“We are actively pursuing and talking to companies with sales between $500,000 and $1 million,” he said. “We go for the smaller regional or rural players that have similar companies.”
REM will continue to operate under its own brand.