Dutch capital fund acquires 18 audiology clinics in Denmark  

2008.02.14
Dutch capital fund Hal Investments has acquired 18 privately owned audiology clinics in Denmark and plans further expansion
Dutch capital fund Hal Investments has acquired 18 privately owned audiology clinics in Denmark, four of which were bought last year, and established a new chain, AudioNova Hearing Center. The aim is to generate revenues in the range of DKK 120-150m (USD 24-30m) in three years, Henrik Haack, managing director of AudioNova, told financial daily newspaper Børsen.
 
"The business objective is that AudioNova Hearing Center has more than 21 private audiology clinics by the end of 2008. Over 2-3 years, the objective is 30-35 clinics and thus one third of all private audiology clinics in Denmark," Haack said.
 
In recent years, the number of private audiology clinics has surged from 40 to almost 100. One of the reasons for this is that the Danish government in 2002 increased public subsidies on hearing aids, in order to bring down waiting lists in the public sector. People with hearing problems can use private audiology clinics and still receive public sector subsidies.
 
It is estimated that around 800,000 people in Denmark have hearing problems, and 300,000 use hearing aids or other technical aids because of impaired hearing. Half of all Danes above 75 years suffer from impaired hearing.

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