ARDEN HILLS, MINNESOTA – the IntriCon Corporation announced in a November 3rd press release that it has acquired the assets of PC Werth, Ltd, a leading supplier of hearing aids and hearing healthcare products in the United Kingdom (UK).
As was previously reported by Hearing News Watch, IntriCon has had an exclusive agreement with PC Werth Ltd to distribute its hearing aid products in the UK under the Kamplex brand name since December 2014. Through the exclusive partnership, it became one of the main suppliers to the UK’s National Health Service (NHS). The NHS, the world’s largest purchaser of hearing aids, provides an estimated 1.4 million hearing aids each year to people in the UK.
IntriCon expects the acquisition will help it generate approximately $4.5-$5.5 million in revenue annually.
The Value Segment and Beyond
According to the company, IntriCon has been focused on pursuing the value segment of the hearing industry, rather than traditional premium products dispensed through private clinics that has been a major focus of the “Big Six” hearing aid manufacturers to date.
While non-traditional partnerships have defined the company in recent years in the US, with the most recent example being the earVenture agreement between IntriCon and the Academy of Doctors of Audiology (ADA), it has steadily been growing its footprint in the UK.
Founded by Peter Werth in 1947, PC Werth has been a major supplier of hearing aids in the UK for many years. The company’s efforts contributed to the establishment of the current independent hearing healthcare sector in the UK.
“Our acquisition of PC Werth provides IntriCon a solid foundation to expand our presence in the U.K. and establishes a direct link to the NHS. An immediate initiative will be to increase our sales and market efforts to drive NHS market share. The NHS is widely recognized as the most efficient hearing aid delivery system in the world, and we believe we are well-positioned to serve their needs.”
-Mark Gorder, President & CEO, IntriCon
The company said that the transaction will require several NHS contracts to be novated, with completion anticipated by the end of the year. IntriCon will continue to use the PC Werth name and Kamplex brand. As part of the transaction, key members of PC Werth management will be retained.