Hearzap, a hearing care provider backed by 360 ONE, has acquired a majority stake of 51% stake in Speech and Hearing Care, a health services company focused on improving allied health needs for individuals.
This acquisition was funded entirely through internal cash flows and underscores Hearzap’s financial health and strategic capital management. As per the Company, this acquisition will boost Hearzap’s revenue past Rs 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, the company stated.
By integrating Speech and Hearing Care into its operations, Hearzap aims to extend its reach to every region of India, offering comprehensive speech and hearing solutions under one roof. The company is committed to enhancing awareness, accessibility, and affordability in hearing care, reinforcing its leadership as India’s premier hearing care provider.
With over two decades of experience in audiology, Speech and Hearing Care 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, actor Sonu Sood was appointed as the ‘Ambassador for Cause’ by Hearzap. The Bollywood actor and philanthropist’s involvement is expected to bring greater visibility to the company’s mission, particularly in underserved areas.
The company also raised around Rs 50 crore in a funding round from 360 ONE Asset Management in November last year.
Speaking on the development, S. Raja, Founder and Managing Director, Hearzap, said, “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.”
In addition to the above, Anurag Kumar, Founder, Speech and Hearing Care, said, “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. 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.”
