In Deal Worth Over $600 Million, Amplifon Acquires GAES Group Retail Network; Company Stock Jumps on News
MILAN, ITALY — In a transaction worth €528 million Euros (approximately $617 million USD), Amplifon SpA has reportedly entered into an agreement to acquire the last large, privately-held, hearing aid retail network, GAES Group. Founded in 1949, GAES owns a network of 600 points of sale, with approximately 500 of those located within Spain and the remaining found…
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Amplifon Eyes Hearing Aid Retail Acquisition Targets Across Europe, Canada; Poised to Enter Chinese Market by Year’s End
MILAN, ITALY — One of the world’s largest hearing aid retailers, Amplifon SpA, is reported to be targeting potential retail acquisitions in Germany, France and Canada and announced plans to enter the Chinese market by the end of 2018. The company, which says it holds approximately 10 percent of the global market, has been focused…
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Hearing Aid Market: US Private Sector Grows While VA Encounters Decline
By Amyn M Amlani, PhD The recent industry analysis from Bernstein1 indicates that the US private hearing aid market is experiencing a 6% growth in the first two months of 2018 compared to the same period in 2017. Conversely, the Veteran’s Administration (VA) is experiencing a 1.5% decline during the same comparison period. Hearing…
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IntriCon Announces Record Breaking Year, Poised for Growth
ARDEN HILLS, MINNESOTA — IntriCon Corporation, a leading designer, manufacturer and distributor of miniaturized body-worn devices, including hearing aids, announced financial results for 2017. The suburban Minneapolis company, which provides hearing aids and other components for many distributors, announced record full-year revenue of $88.3 million for 2017, an increase of 30% over 2016. The company…
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Marcon and AuDNet Join Forces as AHG
On January 29th AuDNet, Inc. and Marcon Hearing Group announced a merger. Their newly formed corporation will go by the name AUDNET Hearing Group (AHG). In a press release, AHG said it expects to lower the costs of hearing aids and related products as well as provide a variety of concierge business services for their…
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Hearing Aid Maker, Intricon, Top Performing Public Company in Minnesota in 2017
ARDEN HILLS, MINNESOTA — Minnesota-based hearing aid maker, Intricon, has beat out the likes of Target, Best Buy, 3M and others, to become the best performing publicly-traded company in the state this year. The company’s value per share has more than doubled this year to more than $14/share, reaching a market value of approximately $100…
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American Academy of Audiology Board Meets with FDA, Congress, and Private-Payer Representatives
WASHINGTON, DC — Members of the board of the American Academy of Audiology (AAA) conducted meetings last week with the U.S. Food and Drug Administration (FDA), members of Congress, and representatives from the private-payer community. According to an announcement to its membership on October 30th, AAA said its board used the meetings to represent audiology’s…
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Humana Expands Medicare Advantage Hearing Aid Benefit to 27 More States
LOUISVILLE, KENTUCKY — Humana Inc, announced this month that it will be expanding its relationship with TruHearing, to offer hearing aid benefits to more of its Medicare Advantage plan subscribers. Currently, the company has been offering the benefit in Arizona, Arkansas, Nevada, Ohio, Oklahoma, Texas and Washington. In 2018, the company will be offering the…
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Sonova CEO, Lukas Braunschweiler, to Retire; Company Taps Arnd Kaldowski as Successor
STAEFA, SWITZERLAND — Sonova Holding AG, one of the world’s largest hearing aid manufacturers, announced the retirement of CEO Lukas Braunschweiler this week, after serving in the CEO position since 2011. Braunschweiler’s successor, Arnd Kaldowski, will initially join the company as COO on October 1st, before fully transitioning into the CEO role on April 1,…
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After Launch of ReSound LiNX 3D, GN Posts Strong Q2 Results; CEO Says Company to Compete in Upcoming OTC Market
BALLERUP, DENMARK — GN Store Nord A/S announced the results of the company’s half-year financial report on August 17th, noting a 15% revenue growth in the second quarter (Q2), driven by strong performance at GN Hearing and GN Audio. According to the financial report, GN Hearing’s revenues increased by 12% in Q2, with an organic…
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