Why We Invested in Audiological Science

The prevalence of hearing loss is of increasing concern, with the Royal National Institute for Deaf People (RNID) estimating that today 18 million people in the UK are deaf or have hearing loss or tinnitus. That’s 1 in 3 adults, a number which is growing due to the ageing population and increased damage caused by exposure to loud noises through headphone use. Despite this, only 2 million people use hearing aids, with adoption growing thanks to increased awareness and better, more discreet technology.

All these factors mean that audiology services in the UK are stretched and need to scale up in order meet ongoing demand. The NHS are increasingly looking to specialist private audiology providers to support the delivery of this care, particularly for low-complexity cases to enable the NHS to focus on the more complex patients in hospital settings.

One of these specialist providers is YFM investee business, Audiological Science Limited (AS). Headquartered in London, AS is a leading independent audiology provider which currently works with nine NHS Integrated Care Boards (ICBs), delivering high-quality hearing care in community settings across the UK. It is seeking to build upon this, alongside its fast-growing private pay business, helping more people experiencing hearing loss to get expert audiology support quickly.

With YFM’s £12.35 million investment, AS is now set to accelerate its growth plan, expanding into new regions across the UK. It is perfectly positioned to deliver urgently needed services against a backdrop of growing demand. The business will call upon a combination of specific strengths to meet market requirements.

The team of expert audiologists at AS have a deep understanding of how frustrating it can be getting access to hearing care. As a result, they have built a scalable model focussed on delivering care in community settings; settings which are more familiar and more convenient to its patients. Its audiologists are highly trained, delivering expert and empathic care efficiently, meaning more patients can been seen quickly.

All care is delivered by qualified audiologists, with wide knowledge of leading hearing loss technology. They have a strong reputation for outstanding aftercare, which has been a strong draw for NHS clients – helping AS to win 100% of the ICB tenders it has participated in to-date.

The management buyout of AS sees YFM backing incumbent Managing Director, Deep Patel. An experienced audiologist and business leader with 14 years’ experience, Deep was brought in initially to lead on the business’s first NHS contract five years ago. Since then, he has been instrumental in driving the high growth experienced, landing eight additional NHS contracts and growing AS’ private-pay business alongside this.

Since our investment he has been working alongside Non-Executive Chairman, Jon Lowe, and healthcare-experienced CFO, Phil Semke, both introduced to the business by YFM. This team is passionate about the future prospects of the business and boosting its capacity to address growing market demand.

For the team at YFM, AS presents an opportunity to back a company which is expanding quickly and has a clear growth plan in an evolving market.

With a team of leading audiological experts available at a wide range of locations across the country, AS has the agility required to respond to ever-increasing hearing care needs. With YFM’s investment in place it can scale to meet this demand – establishing itself as the go-to provider of community-based hearing care in the UK.