Investment firm Cathay Capital has made a strategic investment in CPAP.com. CPAP.com will benefit from Cathay Capital’s support as the company accelerates its development and strengthens its position in the field of sleep apnea treatment.
Founded in 1999, Houston, Texas-based CPAP.com serves the obstructive sleep apnea (OSA) equipment market. It offers machines, supplies, and accessories via its direct-to-consumer e-commerce website.
Andre Puong, partner of Cathay Capital, says in a release, “CPAP.com has been an innovator in the OSA space with an impressive and sustained growth trajectory since its founding. We are excited to work with Johnny and Carolyn Goodman and the team in the next phase of the company’s journey and to build on their hard work. The Cathay team looks forward to leveraging its experiences and resources in e-commerce and healthcare to accelerate the development of the company’s digital infrastructure and product offering to support its leadership in not only the PAP equipment market but also in the broader market serving the increasingly important concept of sleep wellness.”
Johnny Goodman, co-Founder and CEO of CPAP.com, says in a release, “We’re honored to partner with the entire Cathay Capital team to guide us in driving the next phase of our growth. In Cathay we’ve found a diversity of ideas and networks spanning three continents, an alignment of shared values and a clear path to furthering our mission of being the place for all things sleep apnea. We tip our hat to the fellow healthcare innovators under the Cathay umbrella and are looking forward to making our mark.”
Johnny Goodman and company chief financial officer Carolyn Goodman will remain in their roles and sit on the board of CPAP.com’s new holding company, Somnum Bene Holdings, alongside members of the Cathay Capital team. TM Capital served as exclusive financial advisor to CPAP.com in connection with the transaction.