Company Description

Founded in July 2007 in Dallas, TX, The Snoring Center is the nation’s leading provider of minimally invasive, office-based treatment for snoring and sleep apnea. Snoring and sleep apnea affect more than 75 million adults in the US (nearly 50% of adults), and the problem worsens with age and obesity.

Traditional treatment options (such as surgery) can be very painful, time-consuming and difficult to maintain, and may not be acceptable solutions for millions of patients. In contrast, The Snoring Center delivers state-of-the-art, patient-friendly treatment options marketed directly to consumers. Treatment offerings at The Snoring Center include the proprietary Pillar Procedure (related patents and IP were acquired by The Snoring Center in 2014 from Medtronic), which is a simple procedure performed on over 50,000 patients with no significant adverse effects and a satisfaction rate of over 80%.

The Snoring Center currently owns and operates 3 locations in Texas (Dallas, Austin and Houston) and has licensing agreements with other clinics across the US. The Snoring Center offers a variety of convenient, minimally invasive solutions for snoring and sleep apnea that conveniently meet a patient’s needs in an office setting. In 2014, The Snoring Center earned over $3 million in revenue, and is expected to further increase revenue in 2015 as it helps an increasing number of patients with snoring and sleep apnea. The Snoring Center also plans to grow its business further by increasing Pillar Procedure offerings in the growing dental market for snoring treatment.


Business Model

The Snoring Center delivers state-of-the-art, patient-friendly treatment options for snoring and sleep apnea, marketed directly to consumers. Since it officially opened in 2007, The Snoring Center has become one of the most prominent snoring treatment providers in the nation. In addition to company-owned offices throughout Texas (Dallas, Houston, and Austin), The Snoring Center licenses its brand to other physicians across the country.

In January 2014, The Snoring Center acquired the Pillar Procedure business from Medtronic (NYSE:MDT). The Pillar Procedure is a minimally invasive treatment for snoring and sleep apnea, originally developed by Restore Medical and acquired by Medtronic in 2008. Given that The Snoring Center accounted for nearly 50% of Medtronic’s US sales of the Pillar Procedure, The Snoring Center recognized the potential synergies of acquiring the Pillar Procedure and subsequently purchased the related patent portfolio (and all related domestic business assets) from Medtronic.

The Pillar Procedure is FDA-approved for snoring and sleep apnea treatment. Over 50,000 patients have been treated with no significant adverse effects, with a satisfaction rate of over 80%. The procedure is completed under local anesthesia in 10 minutes, and works by placing small stitches in the soft palate and allowing the body’s natural reaction to stiffen the soft palate. The entire progression generally takes 4-6 weeks following treatment.

The Snoring Center seeks to grow sales by encouraging clinicians to offer patient-friendly, minimally invasive treatment protocols to their patients, built around the Pillar Procedure. The economics of such an approach are compelling for the clinician and represent a good value for the patient, as avoiding surgery makes treatment much less expensive. The cost to consumers for the Pillar Procedure is determined by the clinician, but most prices range from $2,500 to $3,500 for 5 implants. Clinicians are trained to offer the Pillar Procedure in conjunction with other treatments for maximal efficacy.

Additional information about The Snoring Center and its product offerings can be found online at www.snoringcenter.com.


Meet the Team

Craig Schwimmer, MD, MPH, FACS
Founder & President, Director

Dr. Schwimmer is a Board Certified Otolaryngologist (surgical speciality of the Ear, Nose, and Throat). A 1991 graduate of the Emory University School of Medicine, he completed his otolaryngology training at Henry Ford Hospital in Detroit, Michigan, studying under some of the leading clinicians and scientists in the field of snoring and sleep apnea. He has co-authored numerous articles on the subject, including pioneering work on the relationship between obstructive sleep apnea and gastroesophageal reflux. After six years of residency training, he practiced in Baltimore, Maryland, where he was also a member of the teaching faculty at Johns Hopkins University from 1997-2000 and actively involved in training otolaryngology residents. Since 2001, he has practiced in Dallas, where he founded The Snoring Center in 2007.

David Norton
Director

Partner at Shackelford, Melton, McKinley & Norton, LLP

Mr. Norton is the head of his firm’s aviation law practice and a member of the firm’s management committee. He has a nationally recognized aviation law practice that encompasses a broad range of regulatory, transactional and commercial issues. His work has earned him a place on Thomson Reuters Legal’s Texas Super Lawyers listing seven times, from 2008 through 2014. Mr. Norton was an officer in the U.S. Air Force from 1984 to 1993 and received several military decorations, including the Meritorious Service Medal and the Aerial Achievement Medal for his contributions in Operations Desert Shield, Desert Storm and Restore Hope. Mr. Norton is also active in numerous professional and civic organizations, including service as a member of the board of trustees of the Frontiers of Flight Museum, located at Dallas’ Love Field Airport, and served as president and a trustee of Challenge Air for Kids & Friends, Inc., a Dallas-based nonprofit corporation that provides instructional, therapeutic and educational aviation experiences for disabled children.

Paul Savoldelli
Director

CEO of Americas Management Group (AMG)

Mr. Savoldelli has more than 25 years of international transactional experience, with a primary focus on Latin America, and is currently the CEO of Americas Management Group (AMG). AMG works with international private equity groups to create and manage transactions in the region. Mr. Savoldelli has initiated, managed or led the development or funding of more than $2 billion of transactions, including several of the largest cable, media and logistics companies in Latin America. In addition, Mr. Savoldelli has founded several highly successful start-ups and participated in an international legal practice spanning the United States, Europe and the Middle East.