Fresh off a $12 million fund-raise, sleep services and equipment provider Dormir Inc. has gone shopping, acquiring 15 sleep-therapy centers in the western United States for an undisclosed sum.
New health investor Excel Venture Management added $4 million to complete the $12 million round for Dormir, the sleep-therapy services and equipment provider. Dormir will use the money for expansion.
Small practices play a critical role in healthcare delivery, but they cannot continue to absorb ever-increasing administrative demands without consequences.
CHL Medical Partners and Noro-Moseley Partners lead the round. Dormir Chief Executive Tim Miller stated in a press release that the money would be used to support extremely fast growth in its businesses.