Hearzap Acquires Majority Stake in Speech and Hearing Care

Hearzap, a prominent hearing care provider in India, has made a significant move to expand its operations by acquiring a majority stake in Speech and Hearing Care, a well-established hearing care provider in Bihar and Jharkhand. This acquisition, funded by Hearzap's internal cash flows, is anticipated to propel the Hyderabad-based company's revenue beyond INR 100 crore in the current fiscal year. Moreover, this strategic move aims to secure a substantial 30% market share in key regions.

• Speech and Hearing Care boasts a strong presence in prominent cities like Patna, Ranchi, and Dhanbad, solidifying Hearzap's footprint in the eastern region of India.
• This acquisition aligns with Hearzap's ambitious goal to operate 250 stores by 2026, demonstrating their commitment to scaling their hearing care services across India.

Expansion into Eastern India

The integration of Speech and Hearing Care's operations will enable Hearzap to extend its services into the eastern region of India, further solidifying its position as a leading player in the hearing care industry. This strategic move strengthens Hearzap's commitment to making high-quality hearing care accessible to a wider population.

• By combining Hearzap's advanced technology with the local expertise of Speech and Hearing Care, the company aims to enhance industry standards and provide exceptional service to customers in the region.

Hearzap's Mission and Vision

S Raja, Founder and Managing Director of Hearzap, emphasizes the significance of this acquisition in achieving their mission of making high-quality hearing care accessible across India. He highlights the potential to elevate industry standards and provide superior service to customers by leveraging the combined strengths of both companies.

• Anurag Kumar, Founder of Speech and Hearing Care, shares his enthusiasm about the partnership, stating that it will enhance the quality of life for their customers by making world-class hearing care readily accessible in Bihar and Jharkhand.

Hearzap's Ambitions and Growth Strategies

Beyond this acquisition, Hearzap has taken further steps to bolster its presence and impact in the hearing care industry. The company appointed Bollywood actor Sonu Sood as the 'Ambassador for Cause,' aiming to increase awareness and visibility for their mission, particularly in underserved regions.

• This strategic move underscores Hearzap's commitment to addressing hearing loss needs in areas that may lack access to quality hearing care.

Financial Strength and Investments

Hearzap's financial strength is evident in its recent achievements. Last year, the company successfully secured INR 50 crore in a funding round led by 360 One Asset Management. This demonstrates the confidence investors have in Hearzap's vision and growth trajectory.

• With a robust network of over 130 locations and a dedicated team of 600+ employees, Hearzap remains steadfast in its commitment to making hearing care accessible and affordable across India.

Hearzap's Impact on the Hearing Care Industry

Hearzap's strategic acquisitions and initiatives have a significant impact on the hearing care industry in India. The company is actively expanding its reach and improving access to quality hearing care for individuals facing hearing loss.

• By integrating advanced technology with local expertise, Hearzap is setting new standards for hearing care services in the country.
• Their commitment to affordability and accessibility ensures that hearing care is within reach for a wider segment of the population.

Hearzap's Continued Growth and Expansion

Hearzap's growth trajectory suggests that the company is poised for continued success in the Indian hearing care market. Their commitment to expansion, partnerships, and innovation positions them as a leader in providing comprehensive hearing care solutions.

• By addressing the needs of individuals facing hearing loss across India, Hearzap is making a positive impact on the lives of countless people.