Alpaca Audiology Acquires Hearing Health USA
ST. LOUIS (July 24, 2019) – Alpaca Audiology (Alpaca), a portfolio company of Thompson Street Capital Partners (TSCP), announced that it has merged with Belsono Management Group, LLC (Belsono) and its clinic groups Hearing Health USA, LLC and Ideal Practice Management Group, LLC. The transaction was funded by TSCP. Terms of the sale were not disclosed.
Belsono, founded by Amir Hadar and Jonathan Weizman, is headquartered in Mountain Lakes, New Jersey. The merged Alpaca/Belsono organization owns and operates clinic locations in the eastern half of the United States and is now the largest independent network of its kind in the country.
“Combining Belsono with Alpaca has created a unique organization capable of acquiring a single clinic or large-scale, multi-site groups,” said Mr. Weizman, Belsono’s President. “Because we work closely with many different hearing aid manufacturers, our acquired clinics can fit their preferred product, while employing the same strategies that have historically been successful in their respective markets. Through our buying group, Alpaca Audiology, we empower independently owned practices to remain competitive in the ever-changing industry landscape while providing owners with an attractive exit strategy when they decide to sell their practice.”
“The partnership with TSCP provides us with the resources to acquire clinics at very competitive valuations, and close quickly when the right opportunity presents itself. We have found the ultimate partner in Alpaca and are excited about our shared approach to patient-centered hearing healthcare,” said Mr. Hadar, Belsono’s CEO. “We are thrilled about what this merger means for our employees and its effect on our ability to provide unsurpassed patient care to the communities we serve.”
Alpaca consists of two business units: a portfolio of audiology clinics; and a buying group/negotiating network for privately-owned audiology practices, offering a free membership and a broad range of member benefits.
Said Brian Vesley, President and founder of Alpaca, “Belsono brings experienced management capabilities, custom-tailored systems, and a solid infrastructure – attributes that will be invaluable as we work together to create a never-before-seen entity in the audiology sector.”
Jim Cooper, Managing Partner at TSCP said, “By owning both a vast network of clinics and a buying group, Alpaca is now in a unique position to offer independently owned clinics competitive pricing and associated services that are on par with manufacturer owned-clinics. The addition of the Belsono Group creates enormous scalability, coupled with deep-rooted industry expertise and know-how. We look forward to supporting the group’s growth on both the buying group and clinic-acquisition aspects of the business.”