Protech sleeps well with latest acquisition
By HME News Staff
Updated Tue October 27, 2020
CINCINNATI - Protech Home Medical has acquired Sleepwell, a company based in Georgia with unaudited trailing 12-month annual revenues of about $13 million.
Sleepwell has adjusted EBITDA of about $3.25 million, net income of about $2.5 million and no debt.
The company provides sleep services in the Southeastern corridor, as well as Dayton, Ohio, which is a new market for Protech. It adds five locations and 15,000 active patients to Protech's roster.
Dave McLeod, a 12-year veteran of the industry, will join the Protech executive team as director of sleep services.
Following the close of Sleepwell, Protech has a run-rate revenue of about $120 million to $125 million, and adjusted EBITDA of $26 million to $30 million.
Protech now has 48 locations across the U.S., 110,000 active patients and 17,000 unique referrals.
The company has made a number of acquisitions this year, including Buffalo Grove, Ill.-based Health Technology Resources.
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