SleepQuest Adds Expertise to Build on Continued Growth

SAN CARLOS, Calif., Feb. 9, 2011 /PRNewswire/ -- SleepQuest, Inc., the leading national provider of comprehensive sleep medicine services, announced a 44% increase in 2010 Fourth Quarter earnings over 2009. Growth occurred in all areas of the business, including diagnostics, titration, therapy and ongoing care for patients suffering from Obstructive Sleep Apnea (OSA).

Robert Koenigsberg, President and CEO, said, "2010 was an extraordinary year for SleepQuest as we continued our national expansion and expanded operations."

The Company has also appointed Gary B. Corbett as Vice-President of Business Strategy and Development. Prior to joining SleepQuest, Mr. Corbett was part of the pioneering management team that founded the first company to provide national OSA diagnostic services.  

With successful acquisition of the business by TPG, one of the world's largest private equity funds, Corbett was asked by Robert Koenigsberg to join him at SleepQuest in the introduction of a more comprehensive Sleep Apnea program requested by national payers and clients across the country.

Said Mr. Corbett, "I was excited about the program put together by Koenigsberg in association with Dr. William Dement, SleepQuest's Chief Scientific Advisor and Division Chief of the Stanford University Division of Sleep. Then, after meeting the dedicated and highly qualified team working to build SleepQuest, I was drawn to both invest in and join the company."

"Gary has achieved an enviable track record growing companies and as an executive in both corporate and government," said Koenigsberg. "With over a decade focused on delivering medical services and products directly to patients in their home, he has a wealth of experience and new ideas to make healthcare more efficient and affordable."

SleepQuest also announced that David Goldsmith and Donald Nelson have joined the company's Independent Board of Directors.

David L. Goldsmith brings over 35 years of experience in healthcare, most recently as Chairman of the Board for Apria Healthcare Group where he guided the company's $1.7 billion buyout by The Blackstone Group in late 2008. As a private investor with unique expertise in healthcare financing, David has made numerous investments in both medical products and medical services companies. Goldsmith has served on the boards of numerous private and public healthcare companies, and the board of a nonprofit hospital system.

Donald G. Nelson is an investment banker and venture capitalist who has helped hundreds of Fortune 500 and other companies complete a wide variety of corporate finance transactions. Nelson has held numerous directorships including Sutter Health, Martin Media, Alta Bates Summit Medical Center and the Harvard Business School Association. He currently serves on the Investment Committee of Harvard Angels venture capital group.  

Said Koenigsberg, "David Goldsmith and Donald Nelson will be instrumental in helping SleepQuest achieve additional growth and strategic opportunities. Both individuals bring valuable experience to our board."

"These new board members come at an exceptional time of growth," added Koenigsberg. "David has experience in successfully leading healthcare organizations, including his most recent position as Chairman of Apria. Meanwhile, Don has advised entrepreneurial and mid-sized companies in the completion of over $6 billion in mergers and acquisitions."

Said Goldsmith, "SleepQuest is a transformational company with an advanced technological infrastructure and collaborative clinical model that joins physicians, patients and payers in a comprehensive program of early diagnosis and prompt, effective therapy that reduces the cost of healthcare."

Added Nelson, "I am excited to join an organization with such growth and tremendous opportunity as SleepQuest. The company has a proven technology platform and clinical expertise, and I look forward to being a part of its future success as it continues to expand its portfolio and overall business."

"We are honored that all these executives have joined SleepQuest and we will have the benefit of their strategic insight, management expertise and financing experience as we continue on our path of consistent growth," added Koenigsberg.

About SleepQuest

SleepQuest improves medical outcomes for OSA patients and delivers significant cost savings for them and for payers across the country. Through MySleepQuest.com, the company permits consumers and existing patients across the country to benefit from SleepQuest's experience in providing customized care.

SleepQuest has delivered successful outcomes to thousands of patients suffering from Obstructive Sleep Apnea. Accredited by the Joint Commission, their comprehensive and clinically validated "Continuum of Care" approach includes screening, diagnosis, treatment and ongoing patient management to achieve high compliance rates and successful medical and quality-of-life outcomes.

For additional information, visit SleepQuest at http://www.SleepQuest.com

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SOURCE SleepQuest, Inc.