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HOUSTON and NEW YORK – has received a strategic investment from global investment firm Cathay Capital, the company announced today. will benefit from Cathay Capital’s support as it accelerates its development and strengthens its leadership position in the field of sleep apnea treatment.  

“We’re honored to partner with the entire Cathay Capital team to guide us in driving the next phase of our growth,” said Johnny Goodman, co-founder and CEO of “In Cathay, we’ve found a diversity of ideas and networks spanning three continents, an alignment of shared values and a clear path to furthering our mission of being the place for all things sleep apnea.” 

Founded in 1999, is a direct-to-consumer provider of CPAP machines, supplies and accessories via its e-commerce website. points out demand for sleep apnea equipment is expected to increase at a compounded annual growth rate of more than 6% from 2021 to 2028 in the U.S. and globally, driven by an aging population, increasing rates of obesity and increasing awareness of OSA. 

“ has been an innovator in the OSA space with an impressive and sustained growth trajectory since its founding,” said Andre Puong, partner of Cathay Capital. “We are excited to work with the team in the next phase of the company’s journey and to build on their hard work. The Cathay team looks forward to leveraging its experiences and resources in e-commerce and health care to accelerate the development of the company’s digital infrastructure and product offering to support its leadership in not only the PAP equipment market, but also in the broader market serving the increasingly important concept of sleep wellness.”  

Johnny Goodman and company CFO Carolyn Goodman will remain in their roles and sit on the board of’s new holding company Somnum Bene Holdings, alongside members of the Cathay Capital team. 

TM Capital served as exclusive financial advisor to in connection with the transaction.


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