MedWatch

Swiss hearing aid giant makes EUR 200m acquisition – poised for new US sales channel

In an EUR 200m deal, hearing aid company Sonova has acquired audio firm Sennheiser's Consumer Division in order to better position itself in the new 'hearables market'. The Swiss company also aims to prepare for a future sales channel for low-cost hearing aids in the US, according to analyst.

Sonova CEO Arnd Kaldowski | Photo: Sonova / PR/Daniel Hager Photography & Film

The largest hearing aid company in the world – Swiss Sonova – has flexed its financial muscle, and in an EUR 200m (USD 243.3m) trade it has acquired audiocompany Sennheiser's division for consumer products, according to a Sonova press statement.

The acquisition adds 600 employees to Sonova's workforce and EUR 250m in revenue, and on the conference call made after the announcement, the firm explains that it plans to elevate its margin for earnings before interest, taxes and amortization (EBITA) to a double-digit figure.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from MedWatch

Orphazyme cuts guidance following FDA setback

Friday's disappointing rejection letter from the US FDA is affecting Orphazyme's guidance for 2021. Now, the biotech firm forecasts an operating deficit of DKK 670-700m, up from DKK 100-150m.

Further reading

Related articles

Latest news

See all jobs