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Audiotech Healthcare Corporation (AUD:TSX-V) was founded in 1997 to take advantage of the fragmented hearing care industry in North America by establishing a network of hearing care centres by means of acquisitions and new clinic openings. Currently, the company operates and manages 16 hearing clinics in British Columbia, Alberta, and Idaho.
Over the past several years, Audiotech has become an ideal acquisition candidate for a number of reasons. Most importantly, there is a growing consolidation trend in the industry in which hearing aid manufacturers are buying up successful hearing clinics. Especially attractive takeover candidates are those companies operating chains of hearing care clinics. The third quarter of fiscal 2011 marked the seventh consecutive profitable quarter for Audiotech and the fifth consecutive quarter with net earnings over $100,000.
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