Hearzap, a 360 ONE-backed hearing care services provider, has acquired a majority stake in Speech and Hearing Care Pvt. Ltd., a well-known player in the Bihar and Jharkhand regions.
He acquisitionwhich is fully funded through internal cash flows, will boost Hearzap’s revenues beyond Rs 100 crore this fiscal year, securing a 30% market share in key regions, The release notes.
What does Hearzap do?
Hearzap is a Hyderabad-based hearing care service provider known for its innovative approach to hearing solutions.
The company claims to have a presence in more than 130 locations and a team of more than 600 employees, helping to improve the lives of more than 1.2 million customers.
“This acquisition marks an important milestone in our mission to make high-quality hearing care accessible to every corner of India. By combining our advanced technology with local expertise in hearing and speech care, we are poised to raise the industry bar and serve our customers even better,” said S. Raja, Founder and CEO of Hearzap.
Providing high quality hearing care
Hearzap said the expansion ensures access to top-quality hearing care provided by professionally trained audiologists and supports the company’s goal of expanding to 250 stores by 2026, doubling its growth by exploring more partnerships.
By integrating speech and hearing care into its operations, the company extends its reach to all regions of India, offering comprehensive speech and hearing solutions under one roof.
“By joining forces with Hearzap, we will improve the quality of life of our customers by making world-class hearing care more accessible in Bihar and Jharkhand,” said Anurag Kumar, Founder, Speech and Hearing Care Pvt. Ltd.
“With Hearzap’s advanced technology and deep local expertise, we are confident in our ability to set new benchmarks in the industry and deliver exceptional care to every corner of this region,” Kumar added.
Association with Bollywood actor Sonu Sood
Hearzap recently appointed Sonu Sood as its ‘Cause Ambassador’. The renowned Bollywood actor and philanthropist’s involvement is expected to bring greater visibility to its mission, particularly in underserved areas.
Last year, in November, the company raised around Rs 50 crore (or about $6 million) in a funding round from 360 One Healthcare Opportunities Fund, a private equity fund that invests in the healthcare and life sciences segment.
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