- Hearzap acquires majority stake in Speech and Hearing Care Centre Pvt. Ltd.
- Hearzap will expand its roots in the eastern regions following this acquisition.
- This acquisition is expected to significantly contribute to Hearzap’s revenue growth, exceeding ₹ 100 crore.
Hyderabad, India, September 4, 2024 – Hearzap, India’s leading hearing care provider funded by 360 ONE, has announced the acquisition of a majority stake in Speech and Hearing Care Pvt. Ltd., a renowned player in the Bihar and Jharkhand regions. Funded entirely through internal cash flows, the deal underscores Hearzap’s solid financial health and strategic capital management. This acquisition will boost 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. By integrating Speech and Hearing Care into its operations, Hearzap extends its reach to every region of India, offering comprehensive speech and hearing solutions under one roof.
“This acquisition marks a major milestone in our mission to make high-quality hearing care accessible to every corner of India. 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 Mr. S. Raja, Founder and Managing Director of Hearzap.
“Joining forces with Hearzap, we will enhance the quality of life for our customers by making world-class hearing care more accessible across Bihar and Jharkhand.”, said Mr Anurag Kumar, Founder of Speech and Hearing Care Pvt. Ltd. “With Hearzap’s advanced technology and deep-rooted local expertise, we are confident in our ability to set new benchmarks in the industry and bring exceptional care to every corner of this region.”
With over two decades of experience in audiology, Speech and Hearing Care Pvt. Ltd has a stronghold in cities like Patna, Ranchi, and Dhanbad. This will play a crucial role in facilitating the integration of the two companies, supporting Hearzap’s efforts to strengthen its presence in the hearing care industry as they work together to improve services and products for customers in eastern regions.
Recently, Sonu Sood has been appointed as the ‘Ambassador for Cause’ by Hearzap. The renowned Bollywood actor and philanthropist involvement is expected to bring greater visibility to Hearzap’s mission, particularly in underserved areas. The company also raised around Rs 50 crores in a funding round from 360 One Asset Management Ltd. in November last year.
Looking ahead, the company is committed to enhancing awareness, accessibility, and affordability in hearing care, reinforcing its leadership as India’s premier hearing care provider.
