Great Elm Healthcare, LLC Subsidiary Acquires Advanced Medical DME, LLC and PM Sleep Lab, LLC

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Great Elm Group, Inc. (“we,” “us,” “our,” “GEG,” or “Great Elm”) (NASDAQ: GEG), a diversified holding company, announced Tuesday that Focus Respiratory, LLC, a subsidiary of Great Elm Healthcare, LLC (“GEHC”) (the “Company”), acquired Advanced Medical DME, LLC and PM Sleep Lab, LLC, providers of sleep testing, PAP, and other respiratory products and services in nine locations throughout Kansas and Missouri. On a combined basis, the acquired entities reported pro forma unaudited revenues of approximately $5 million in 2020. The acquisition of these entities expands the Company’s existing operating footprint in the Midwestern U.S., with the addition of six locations in Kansas and entry into Missouri with three locations.

ChiliSleep and Ebb Therapeutics Merge to Revolutionize Sleep

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Kryo, the parent company of sleep technology brand ChiliSleep, today announced that it has merged with Ebb Therapeutics (“Ebb”) to become a market leader in innovative sleep products and technologies. As part of the transaction, leading global investment firm KKR, Ebb’s largest investor, led a $37 million investment to accelerate the merged company’s growth in the $432 billion global sleep market. For KKR, the investment is being funded through the firm’s Health Care Strategic Growth Fund, which is focused on investing in high-growth healthcare-related companies for which KKR can be a unique partner in helping reach scale.

Spiro Health Acquires Absolute Respiratory Care

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Spiro Health is pleased to announce the successful acquisition of Absolute Respiratory Care in Johnston, Rhode Island. Absolute Respiratory Care is a leading home medical equipment provider in the state of Rhode Island. The acquisition will continue to allow Spiro Health to have operations across eight states and the District of Columbia; Connecticut, Maine, Maryland, Massachusetts, New Hampshire, Rhode Island, Vermont, and Virginia. Absolute Respiratory Care offers a full range of medical equipment and supplies, with a strong emphasis in providing sleep therapy solutions. Since 2005, their ever-adapting mindset has allowed them to leverage wireless monitoring and create a touchless telehealth model for sleep therapy.

Protech Acquires Sleepwell LLC

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Protech Home Medical Corp. (“Protech” or the “Company”) (TSXV: PTQ), (OTCQX: PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that it has acquired Sleepwell, LLC (“Sleepwell”), a company based in Georgia, reporting unaudited trailing 12-month annual revenues of approximately $13.0 million, adjusted EBITDA of approximately $3.25 million, net income of approximately $2.5 million and no debt. Sleepwell is a leader in sleep services in the State of Georgia, with significant penetration in the Southeastern corridor of the region. Resembling Protech’s mission, Sleepwell and its 34 employees have a keen focus on delivering superior service through patient care and education, providing high-quality equipment, and supplies.

Eastern Ohio Pulmonology Joins NOMS Healthcare

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NOMS Healthcare welcomes Eastern Ohio Pulmonology Consultants (EOPC) to their rapidly growing multi-specialty group. While EOPC’s providers, locations and top-quality care will remain unchanged, patients and doctors will now have access to a single team of providers in over 30 areas of medical specialty. Founded in 2001 by physicians in Sandusky OH, NOMS currently comprises over 250 providers from Toledo in the West to Mahoning Valley and Western Pennsylvania in the East. NOMS exists to provide the most advanced care for the lowest possible patient cost, and best outcomes. EOPC has been on the cutting edge of Pulmonology, Critical Care and Sleep Medicine since 1984. The now NOMS Eastern Ohio Pulmonary, currently has five physicians, two nurse practitioners and a clinical nurse specialist. All of NOMS EOP physicians are board certified in Internal Medicine, Pulmonology and Critical Care. Three physicians are also board certified in Sleep Medicine.

NewSpring Invests in Spiro Health

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NewSpring, a family of private equity strategies, announced that NewSpring Mezzanine, the Firm’s dedicated mezzanine strategy, has invested in Spiro Health in partnership with Upstream Capital. NewSpring Mezzanine has invested debt and equity to support the merger of three leading sleep health and respiratory care providers. America’s HealthCare at Home, Cape Medical Supply, and Health Complex Medical have all come together to form a new entity called Spiro Health. Spiro Health offers a diverse set of home medical equipment (HME) and supplies that promote total sleep health and respiratory care. By leveraging new technology solutions, the company provides patients and partners with a seamless experience when ordering critical HME and supplies. Spiro Health is dedicated to reducing the pain point for referral sources and patients and making their lives easier in the path toward better health and wellness.

FusionHealth and Nox Medical Join Forces to Form Global Sleep Health Leader, Nox Health

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Full-service population sleep health company FusionHealth and sleep monitoring and diagnostics company Nox Medical have joined forces to form Nox Health, becoming one of the world’s largest sleep health leaders. United by a vision to enable access to sleep health care through people-centered solutions, FusionHealth and Nox Medical aim to bring more expertise, innovation and collaboration to the field through their combined efforts as Nox Health.

Cape Medical Supply Acquires Sleep Therapy Assets of Enos Home Medical

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Cape Medical Supply is pleased to announce the acquisition of the sleep therapy assets of Enos Home Medical (EHM), a long-time provider of sleep therapy services in Southeastern MA and RI. The transaction was completed on July 31. “We continue to focus our efforts on building the premiere hospice partnership service in New England,” commented Enos’ President Jonathan Enos. “Cape Medical has a wonderful sleep therapy program and we are confident our patients will be well cared for by them in the future. We can now narrow our focus and continue to build on the parts of our organization that we see as vital to the future.” Cape Medical Supply is based in Sandwich, MA and operates across MA, RI, NH and ME. The company was founded in 1977 by Mark and Nancy Sheehan and remains family owned. The organization has undergone a decade long strategic transformation, focused on enhancing their sleep therapy program and remaining vital in an increasingly complex reimbursement and regulatory environment. This is Cape Medical Supply’s fourth transaction of significant size.