February 14, 2008
Avada Audiology & Hearing Care Centers, operating subsidiary of Hearing Healthcare Management, Inc. (HHM), recently reported continued strong gains in net sales and profits from operations for the year 2007.
"We are very pleased that our Avada Audiology & Hearing Care Centers continue to show strong growth," Steve Barlow, Avada’s chief executive officer and chairman of the board of managers of HHM, said, "having surpassed our budgeted goals for sales growth in 2007.”
Nationwide, Avada increased net sales by 15.3% in 2007. This significant sales increase has primarily been driven by 69% organic sales increase. Recent acquisitions have also created a positive impact with 31% of the increased sales.
Barlow added, “that just as impressive as the significant sales jump in 2007 has been the bottom line performance of the company overall for the period, with profits improving by 39% year over year. Improvements in all key performance indictors have led to the company’s improved performance.”
Avada reports that during 2007 the organization opened an additional 39 locations throughout the US. The growth in locations was in part due to strategic acquisitions, but primarily fueled by core expansions.
“We continue to focus on improving our patient’s experience and satisfaction. Continuous training and education for all staff personnel is a key factor in our overall success,” Barlow says.
The company states in a news release that Avada expansion activities are continuing. “We are actively seeking high quality practice owners whose philosophies and practice standards mirror our own. We have a variety of scenarios where an existing owner can sell his practice and realize the real equity that has been created,” Barlow says. "We also have opportunities for those who do not necessarily want to sell their practice at this point in time but want to begin to build their practice to its maximum value."