Left (Mainak santra) Founder and Chairman Somenath Mukherjee (Centre) Priyonath Mukherjee (Right) addressing the media during the launch of Hearing Plus in Delhi NCR.
New Delhi, November 28, 2014: Bengal Speech & Hearing Aid Pvt Ltd, one of India’s most trusted & renowned Audiology and speech & language pathology centers announced their foray in Delhi & NCR region with the opening of 7 centers. These centers are situated in Connaught Place, Chittaranjan Park, Saket, Pitampura, Pashcim Vihar, Laxminagar & Noida. Eight more clinics will be opened in the region by March, 2015. The company has recently received Rs 25 crore Venture Capital Funding from Matrix Partners India, which will give the desired impetus to their ambitious growth plans.
Bengal Speech & Hearing Pvt Ltd has two brands under their umbrella - Hearing Plus & Speech Plus. Hearing Plus is doubling its revenue annually, competing with stand-alone clinics and international ventures present in the hearing impairment diagnosis segment in India. Hearing Plus projects itself as a company that offers "high-quality service at affordable cost at your doorstep”. Hearing Plus has a clear lead in the market with world-class audiologists who form the core team.
Speech Plus consists of a specialist team of corporate speech-language pathologists who are trained to help those with speech, voice or language related difficulties and challenges in everyday, business and academic settings. It has a new department known as Corporate Speech Language Pathology (CSLP) and is being introduced to erase the barriers of effective communication. Every specialist at Speech Plus has completed a 4 year Bachelor degree in Audiology and Speech Language Pathology and a 2 year Master degree in Audiology and Speech Language Pathology under UGC recognised University. They have been professionally certified by Rehabilitation Council of India (RCI) and Indian Speech and Hearing Association (ISHA).
“The demand in the speech and hearing segment is higher and there is enough scope for expansion. Hearing aid market, estimated at over Rs 550 crore, is growing at a rate of more than 20% per annum. We have chalked out an effective plan to tap the market. We are aiming at having 90 more clinics in next three years in metros and tier-II cities. We expect to generate revenue to the tune of Rs 100 crore by 2016 – 17”, said Audiologist, Somenath Mukherjee, Founder and Chairman, Bengal Speech and Hearing Pvt Ltd.
With the launch of these 7 clinics, Bengal Speech now has 30 clinics in eight cities, including Kolkata, Mumbai, Delhi – NCR, Guwahati, Bhubaneswar, Siliguri, Burdwan and Howrah.
As per surveys, India has 90 million people suffering from hearing disorder, which is probably the largest in the world. The number is expected to go up by another 30 million by 2017. The market size for hearing impairment solutions here is rapidly growing. With increased awareness, social stigma associated with the use of hearing aids is waning away. Studies have also shown that about 20 million people are estimated to be suffering from speech related problems and are in the need of speech therapy.
“The journey that began in a hostel room, is now a steady and competing business. Today, we have over 300 employees working for us and the number will go up to around 500 by March, 2015. We would also open up a Speech and Hearing College in Kolkata in the coming two years’ time” added Mukherjee.
Bengal Speech will have more than 500 centres in India within the next 10 years.
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Date:
Friday, November 28, 2014