OKLAHOMA CITY, OK--(Marketwire - Dec 15, 2011) - Graymark Healthcare, Inc. (NASDAQ: [ GRMH ]), the nation's second largest provider of diagnostic sleep services and an innovator in comprehensive care for obstructive sleep apnea (OSA), has closed the previously announced agreement to acquire the majority interest in Village Sleep Center in Plano, Texas.

"The acquisition of Village Sleep Center is a great addition to our existing operations in the Dallas Fort Worth area and supports our expansion strategy in existing markets," said Stanton Nelson, chairman and CEO of Graymark Healthcare. "We look forward to leveraging the professional support staff already established in the region to offer residents of Plano the most comprehensive sleep care available."

With this acquisition, Graymark now operates a total of 100 sleep laboratories nationwide, comprised of 23 standalone facilities in large communities and 77 hospital, provider or rural outreach sites. While the type of facility may vary based on community need, Graymark ensures that the quality and comprehensiveness of the services provided remain consistently at the highest standard.

Graymark Healthcare's effective five step clinical approach to managing sleep disorders includes a convenient referral process, accurate and timely assessment, diagnosis, treatment and long-term follow-up to maximize patient compliance. All steps are managed by a board certified Sleep Medicine physician. To find out more or to locate a sleep center near you, visit [ www.graymarkhealthcare.com ].

About Graymark Healthcare
Headquartered in Oklahoma City, Okla., Graymark Healthcare, Inc. (NASDAQ: [ GRMH ]) is the nation's second largest provider of sleep management solutions. In addition to diagnosing and treating over 80 sleep disorders, the company specializes in comprehensive care for obstructive sleep apnea (OSA). Graymark offers its services through 100 sleep laboratories throughout the United States, including standalone or IDTF facilities, rural outreach sites and hospital or provider agreements. For more information, visit [ www.graymarkhealthcare.com ].

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on the Company's current expectations, forecasts and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the Company's expectations, forecasts and assumptions. These risks and uncertainties include risks and uncertainties not in the control of the Company, including, without limitation, the risk that the transaction does not close as planned or at all, the current economic climate and other risks and uncertainties, including those enumerated and described in the Company's filings with the Securities and Exchange Commission, which filings are available on the SEC's website at [ www.sec.gov ]. Unless otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.