Cochlear Limited Acquisition of Sycle LLC
Acquisition of Sycle LLC: Cochlear Limited (ASX: COH), the world leader in implantable hearing solutions, acquired 100% of the shares of Sycle LLC (Sycle), the world’s largest provider of audiology practice management software. Sycle software is used by over 7,000 clinics, with over 20,000 hearing professionals in the US, UK and Canada. In the US, the company’s biggest market, Sycle has an estimated 70% market share. Sycle is a cloud-based practice management solution valued for its simplicity and ease of use as it seamlessly integrates many services including patient clinical data, financing, reimbursement and marketing campaigns, allowing hearing professionals to spend more time with their patients and less time on administrative overhead. Importantly, the acquisition of Sycle is a strategic investment that will strengthen Cochlear’s service offering to its clinical partners. Sycle offers a market-leading practice management solution with a product suite that can be expanded to provide a solution for cochlear implant clinics. This acquisition will enable its partners to enhance clinic efficiency, freeing up more time to deliver patient care. Moreover, there is an opportunity to leverage best practice processes and systems across the hearing services industry, and streamline patient care. Sycle provides a single platform from which it can build awareness of the hearing loss treatment options available as patients are managed through the continuum of care.
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