Graymark Healthcare to close three sleep diagnostic centers in Oklahoma, Texas

Oklahoma City-based firm seeking to cut costs by shuttering some unprofitable clinics in Oklahoma and Texas.

By Brianna Bailey | Published: January 16, 2013 Comment on this article

Graymark Healthcare Inc. is closing three sleep diagnostic and therapy centers in Oklahoma and Texas as it moves ahead with plans to trim $2 million in costs this year.

The company disclosed plans to close the three centers on Friday in a filing with the U.S. Securities and Exchange Commission. The filing did not specify which centers Graymark planned to close.

Calls to the company were not returned on Tuesday.

The Oklahoma City-based company is the second-largest provider of sleep diagnostic therapy and services in the nation and had 107 sleep clinics in 10 states at the end of September.

Graymark is closing the three centers because they were not profitable, the company said in the filing.

The company's remaining lease obligations, severance payments and other write-downs are expected to cost Graymark $1.5 million in the first quarter of the year, the company reported.

Lost $2.2M in quarter

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