Welcome to Audiology Business Central
There is no hiding from it, the UK Audiology market is changing fast. New technology, cost pressures on the delivery of NHS hearing services and the entrance of significant new operators - with amazing marketing skills and massive expansion plans - mean that the UK audiology sector is in a massive state of flux.
Armed with the right knowledge and advice, we can assist in ensuring you thrive in this ever-changing market, providing a range of services for all audiology professionals.
5 Megatrends set to shape the future of the independent audiology and how to harness them in your practice
What are Megatrends and what is their relevance to YOUR practice?
Megatrends are forces that are reshaping the audiology business landscape and the future prospects of independent practice owners in significant ways. The implications of these forces are broad and varied. They present both amazing opportunities that need to be proactively seized with both hands – and extremely dangerous risks and short-term temptations that need to be actively rationalised and mitigated.
It is important to highlight the fact that the UK independent audiology sector is not a single market. It is a “market of markets”, a sector with substantial regional variations and huge variance in operating models. Some of the 5 megatrends will be more significant to certain types of practice than others. At least 1 or 2 of the 5 will be relevant to every practice.
Ultimately, knowledge is power, and this blog is written to help you understand and anticipate these 5 key industry trends – allowing you – where appropriate – to adapt your thinking, planning and business strategy.
Are you listening? Then we’ll begin.
Here are some of the audiology practices we currently have listed for sale.
Northern Ireland: Asking price – £140,000
This is a superb opportunity to purchase a well-established, independent audiology practice dedicated to serving the local community.
Northwest of England: Asking price – OIEO £600,000
A profitable audiology practice with an extensive reach into the local community, including links into ENT in a number of private hospitals.
South Coast: Asking price – OIEO £450,000
This family-run audiology practice has been the primary provider of hearing aids and wax removal services to this affluent south-coast town for over 3 decades.
South Coast: Asking price offers over £280,000
A profitable family-run independent hearing practice, well managed by its owners and boasting great potential to grow its revenue through the input of a new owner.
Please note that confidentiality is of paramount importance to these two practice owners and all parties expressing interest will be subject to an in-depth vetting process for means and suitability before any information will be disclosed.
For further details of these and other hearcare practices for sale please contact the team at Audiology Business Central. Contact Dominic Watson on email at email@example.com or by phone on 0778 899 6505.
Amplifon’s practice sales go from strength to strength as the market for hearing aids bounces back from the lockdown lows
With 11% of global market share, the latest quarters trading figures from Amplifon confirm it’s position as the world leader in the retail sector for hearing care.
Operating from 11,400 stores in 26 countries, the statistics from the Italian giant are truly impressive. Yet the proactive board are clearly not resting on their laurels, with 2 new significant strategic moves announced over the summer of 2021.
The first press release disclosed the acquisition of Australian rival Bay Audio is in the pipeline – for a reported $402 million in a cash free debt free deal arrangement. When the deal completes later this year – it will immediately add a further 100 stores – primarily in high-end shopping malls on Australia’s plumb East Coast.
A few weeks later a joint venture arrangement with Shengqiao (Hangzhou) Health Technology Co, trading as Sound Bridge was announced. Sound Bridge currently operates from 45 shops in China, giving access to a country with eye watering population statistics and incredible potential for hear care expansion.
Like everyone else in the space, Amplifon’s revenues dropped off during the depths of the pandemic – but sales have come roaring back to life as vaccines have been rolled out, lockdowns lifted and consumer confidence returned. In the first 2 quarters, Amplifon achieved sales of €959 million – a 56% year on year increase – with pre-tax profits / EBITDA coming in at an eye watering €232 million.
So what does all of this mean for the UK audiology market? Amplifon’s growth strategy certainly looks set to continue to be a mixture of organic and fast-track via acquisition of suitable high street opportunities.
This and other key factors are causing the UK audiology practice sales market to heat up. Watch this space!
Diversification And Expansion Into Audiology Still In The Top 3 Hot Topics For The Independent Optical Sector In 2021
Directors of Myers La Roche and Audiology Business Central Dominic Watson and Georgina Myers loved getting the opportunity to finally meet clients in person for the first time since the pandemic struck at the 2021 Association Of Independent Optometrists Conference in Kenilworth, Warwickshire last October 9-10,2021.
Looking beyond Covid-19 trading conditions, the 3 hot topics at this years conference were the increasing trend to ditch NHS contracts and go fully private, myopia control and audiology.
A continued interest in audiology combined with more focus on private patients means that there will continue to be significant opportunities for owners of independent audiology practices in terms of both clinic partnership opportunities within ophthalmic practices and an increasing number of potential purchasers when owners begin to consider their exit plans and put their audiology practices up for sale.
With a foot firmly in both sectors, Audiology Business Central and Myers La Roche are uniquely positioned to assist. Our vision for the future major trends in the UK’s independent audiology sector are set out in our brand-new white paper “Audiology Megatrends.”
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