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Audiotech Healthcare Corp. will open a new full-service hearing care clinic in Penticton, B.C., effective Aug. 25, 2008.
The new clinic will be located at 2210 Main St., Power Centre Mall, and will provide a wide range of audiology services including hearing assessment and the fitting of hearing aids.
Located in the southern portion of British Columbia's Okanagan Valley between Okanagan Lake and Skaha Lake, the city of Penticton is a popular retirement destination and one of the fastest-growing communities in the province. Penticton boosts a population of just over 30,000 residents, however, the clinic is expected to draw patients from a number of surrounding cities including Summerland, Peachland, Osoyoos and Oliver. To permit future expansion, the new facility was designed to be conducive to operation with multiple clinicians.
Audiotech is pleased to welcome Dr. Cheryl Galloway to its clinical team. Dr. Galloway will be responsible for clinical operations at the new Penticton clinic.
The opening of this new clinic is part of a continuing program of internal expansion aimed directly at strengthening Audiotech's existing dominant regional market position in the interior of B.C. through it's subsidiary Canadian operation Canadian Hearing Care. Penticton was an important strategic location in that Audiotech-Canadian Hearing Care now has at least one clinic location in every major city in the Thompson/Okanagan region. In addition to boosting clinic revenues, management is confident that the investment in new clinics and expansion of existing clinics in key markets will make Audiotech an attractive target for a future acquisition by a major hearing health care provider, hearing aid supplier, or investor seeking to obtain rapid penetration of the B.C. market through the purchase of a modern clinic network.
Due to human resource issues which led to the Victoria clinic failing to meet management's expected sales volumes, Audiotech has decided to close its Victoria, B.C., clinic. These issues were significant contributors to the below expected first and second quarter earnings in Canada. Most of the equipment from this operation have been used in the start-up of the new Penticton clinic. Audiotech will re-examine opportunities in the Victoria market if human resources and market conditions are favourable in the future.
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