Just released is this from Sonova, OTC is kicking up a buying frenzy!
Stäfa (Switzerland), January 13, 2022 – Sonova Holding AG, a leading provider of hearing care solutions, has signed an agreement to acquire Alpaca Audiology, one of the largest independent networks of audiological care clinics in the US. Founded in 2011, the company has over 500 employees and operates around 220 clinics across the country. The purchase price amounts to USD 310 million (CHF 285 million) on a cash and debt free basis and will be financed through the existing cash balance. The transaction is pending regulatory approval and expected to close before the end of financial year 2021/22.
Arnd Kaldowski, CEO of Sonova, says: “This is an exciting step for Sonova. The addition of Alpaca Audiology to our Audiological Care business will significantly increase our presence in the US, the world’s largest audiological care market. With the acquisition, we are doubling our network in the country, strongly expanding our consumer access.”