Sleep apnea biz wakes up to $5M deal

TAMPA — Pharmacy Value Management Solutions Inc. signed a deal worth at least $5 million to provide sleep apnea-related testing and treatment equipment to a New York City medical group.

A wholly owned subsidiary of Tampa-based Advanzeon Solutions Inc., Pharmacy Value Management signed an agreement to be the exclusive provider of the equipment to All Med Medical and Rehabilitation Centers' patients, according to a release. Jerry Smith, Advanzeon's chief operating officer, estimates the agreement will result in at least 4,500 patient contacts generating more than $5 million for the company each year, the release adds.

All Med handles more than 150,000 patient visits each year for medical examinations, specialty care, ambulatory surgery, diagnostics and urgent care. The company has multiple locations in New York City.

Created in 1969, Advanzeon provides behavioral health, substance abuse and pharmacy management services, as well as sleep apnea