Alpaca Audiology (“Alpaca”) announced that it has merged with Belsono Management Group, LLC (“Belsono”) and its clinic groups Hearing Health USA, LLC (“HHUSA”), and Ideal Practice Management Group, LLC (“IPMG”). Thompson Street Capital Partners (“TSCP”), a private equity group located in St Louis, Missouri funded the transaction. The terms were not disclosed.
Belsono Group was founded by Amir Hadar and Jonathan Weizman and is headquartered in Mountain Lakes, NJ. The merged Alpaca and Belsono organization owns and operates clinic locations in the eastern half of the United States and is reportedly “the largest independent network in the country,” according to the company’s announcement.
“Combining the Belsono Group with Alpaca has created a unique organization capable of acquiring a single clinic or large-scale, multi-site groups,” said Weizman, Belsono Group’s President. “Since we work closely with many different hearing aid manufacturers, our acquired clinics can fit their preferred product, while employing the same strategies which have historically been successful in their respective markets. Through our buying group Alpaca Audiology, we empower independently owned practices to remain competitive in the everchanging 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 Hadar, Belsono Group’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.
“Belsono brings experienced management capabilities, custom-tailored systems, and a solid infrastructure—attributes which will be invaluable as we work together to create a never-before-seen entity in the audiology sector,” said Brian Vesely, President and founder of Alpaca.
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, which are on par with manufacturer owned-clinics. The addition of the Belsono Group creates enormous scalability, coupled with deep-rooted industry expertise/know-how. We look forward to supporting the group’s growth on both the buying group and clinic acquisition aspects of the business.”
Source: Alpaca Audiology
Images: Alpaca Audiology, Belsono Management
