Dormir Boosts Sleep-Clinic Business With Avastra Deal
12/14/2009
Carmel, IN (VentureWire) -- Dormir Inc., a provider of sleep diagnostic services, sleep therapy and equipment to patients and their physicians, acquired Pacific Sleep Medicine Services Inc. and Sleepwell Partners from Avastra USA Inc., a subsidiary of Avastra Sleep Centers Ltd. Dormir acquired 15 locations in California, Oregon and Utah.
The acquisition includes an agreement to manage Pacific Sleep Medicine, consisting of seven doctors solely focused on sleep medicine and sleep-related research.
Dormir is a Carmel, Ind.-based health care company that develops and manages sleep centers across the United States through its MD Sleep LLC subsidiary and distributes respiratory durable medical equipment to patients who suffer from sleep apnea via its CardioSom LLC subsidiary.
In July the company brought its Series A round to $12 million with the addition of new investor Excel Venture Management. Dormir previously closed $8 million toward the round in mid-May. CHL Medical Partners led the round, which included Noro-Moseley Partners and Excel Venture Management. Valuation was not disclosed.
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