Hearzap acquires majority stake in Speech and Hearing Care
Harzap's acquistion is expected to be funded from internal cash flows and is part of the company's broader strategy to expand to 250 stores by 2026.
Hearing care provider Hearzap has acquired a majority stake in Speech and Hearing Care for an undisclosed amount.
Speech and Hearing Care is a renowned player in Bihar and Jharkhand. Hearzap funded the acquisition entirely through internal cash flows. The deal is expected to drive Hyderabad-based Hearzap’s revenue past ₹100 crore this fiscal year, securing a 30% market share in key regions.
"This expansion ensures access to top-quality hearing care provided by professionally trained audiologists and supports the company's target of expanding to 250 stores by 2026, doubling its growth by exploring more partnerships," said the company in a press note.
Speech and Hearing Care has strong presence in cities like Patna, Ranchi, and Dhanbad. The acquisition will facilitate integration of operations of the two companies and enable Hearzap to offer services in the hearing care industry in the eastern region.
"By combining our advanced technology with the local expertise of Speech and Hearing Care, we are set to elevate industry standards and provide even better service to our customers,” said S Raja, Founder and Managing Director of Hearzap.
Hearzap raised around Rs 50 crore in a funding round from 360 One Asset Management Ltd. in November 2023. It operates over 130 locations nationwide.
Edited by Megha Reddy