YFM Equity Partners backs buyout of London-based audiology specialist

The specialist community-based provider is currently playing a role in supporting the NHS in its ambition to take low-complexity ear care out of hospital settings, reducing waiting lists and freeing up hospitals to focus on more complex cases.

YFM is backing incumbent managing director, Deep Patel, to lead the business through the next phase.

Additionally, Jon Lowe, the former chief executive officer of Connect Health, has joined AS as a non-executive chair, and Phil Semke has joined as chief financial officer.

Mr Patel said: “YFM are helping us to lay the foundations for the next phase of our growth journey. Their financial support is complemented by leading strategic insight, which will ensure we’re perfectly positioned to achieve our scale-up ambitions.”

Founded in 2014, AS has grown significantly to meet increasing demand and now works with nine Integrated Care Boards (ICBs) across England.

YFM, which has a regional office in Leeds, said its investment will support AS’s ambitious growth plans, enabling further expansion into additional NHS regions as demand for community-based care continues to rise.

Adam Hart, investment director at YFM, said: “Deep and his team have really impressed us with their strong insight into the audiology market, and how they have developed a scalable model with community care at its heart.

"The business has been growing rapidly, and we’re delighted to be supporting them on the next stage of their journey alongside a high-calibre, sector experienced, non-executive chair.”

The YFM team included Adam Hart and Jamie Roberts.

YFM Equity Partners is a specialist, independently owned, private equity investor firm.

The firm invests £2m to £15m into businesses with “strong growth potential” located across the UK through a regional network of offices in Leeds, London, Manchester, Reading and Birmingham.

In September of last year, YFM announced that it had relocated its Leeds headquarters to a new office at 2 Bond Court.

The firm said the move would accelerate its “ambitious investment plans” in the region.

This came after the firm said that it had increased its headcount by 31 per cent during the year, and grew its funds under management by 32 per cent.