WS Audiology sells its UK Bloom assets to the growing Outside Clinic project
October 18, 2022. WS Audiology UK (WSA) and Outside Clinic (OC) today announced a deal by which the latter group - to this point a provider eye and hearing care tests in the home for both NHS and private patients - will acquire the UK assets of WSA's worldwide Bloom Hearing Specialists network.
While Denmark-based WSA divests the Bloom brand assets it founded in 2013, it strikes up a partnership as a provider of the new owners, OC, with the hearing care forces of both Bloom and OC merging.
A scaling operation for WSA
Philip Stores, Managing Director of WSA UK declared the operation a long-term partnership based on finding the right scale for both parties’ business: “In WSA our ambition is to deliver wonderful sound for all. To do so, scale is important in a UK specific context. With this partnership we have found a better option to pursue our multi-channel strategy and create value by entering into a long-term strategic agreement with OC.”
“By doing this, OC can reach a larger operational scale which is important to be competitive, while WSA will be the strategic supplier to the OC and the domiciliary channel in the UK,” continued Stores.
The transaction includes the business activities in Bloom Hearing Specialists in the UK only. WSA will remain committed to Bloom Hearing Specialists outside the UK and investing in retail remain a key strategic priority to the WSA Group, the latter points out.
Henry Pitman, Chairman of Optimism Health Group (owners of OC), said: “We are delighted that Bloom Hearing Services is joining Outside Clinic. We look forward to working with the excellent Bloom clinical and support teams, as we continue to grow our business. We are also excited about partnering with WSA as we strengthen our audiology proposition in both the self- pay and health insurance sectors.”
The transaction is subject to final regulatory processes and is expected to close before end of 2022.
Source: WSA
