NASHVILLE, Tenn., April 11, 2013 /PRNewswire/ -- Sleep Nation, Inc., a national provider of CPAP supplies, today announced a major accomplishment as it has signed contracts with the Centers for Medicare & Medicaid Services (CMS) to be reimbursed for all competitive bid markets in the U.S. On April 9th, CMS officially announced the winners and Sleep Nation's wholly owned subsidiary, CPAP Care Club, LLC, was one of very few companies to receive bids in all 100 markets for CPAP equipment. The contracts affect nearly 50% of the approximately 49 million people enrolled in Medicare and will become effective on July 1, 2013.
"This is a significant milestone for our company," said Richardson M. Roberts, CEO of Sleep Nation. "This not only allows us to continue to serve thousands of existing Medicare beneficiary patients who use our equipment but gives us access to an entire population of patients who will be searching for a new supplier." Roberts added, "This establishes us as one of a small number of CPAP supply companies who can serve every Medicare patient nationwide."
"Industry experts predict that numerous CPAP supply companies will go out of business due to their inability to continue to receive reimbursement from Medicare so we have a unique opportunity to grow market share rapidly and to become one of the fastest growing providers in the CPAP industry," said Roberts. "We've assembled an impressive team of health care executives, we are well financed and our goal is to scale the company to meet increased demand while providing great patient care."
About Sleep Nation
Sleep Nation, Inc. is a health care supply company located in Franklin, TN specializing in patient care for sleep apnea. We provide patient mail order services to thousands of Continuous Positive Air Pressure (CPAP) patients throughout the U.S. for their replacement supplies through our national call center. Sleep Nation, through our wholly owned subsidiary, CPAP Care Club, LLC, is one of the few national companies that is licensed in all required states and we have managed care contracts covering all 50 states and over 166 million patients in the United States. To learn more about the company please visit www.sleep-nation.com.
SOURCE Sleep Nation, Inc.