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09/11/2009 | 07:00 CET | Group Announcements

Acquisition of Advanced Bionics

Sonova announces the acquisition of Advanced Bionics Corporation expanding its position as the leading provider of hearing healthcare solutions

Sonova Holding AG, the world's leading provider of hearing systems, announced today that it has entered into a share purchase agreement with the shareholders of Advanced Bionics Corporation, Los Angeles, USA. Advanced Bionics is a global leader in developing and manufacturing cochlear implant systems. The purchase consideration of USD 489 million will be fully paid in cash. Subject to regulatory approvals, the transaction is expected to close within the coming three months.

 

Highlights of the transaction:

  • Sonova becomes the first global hearing healthcare company with a strong worldwide presence in hearing instruments and cochlear implant systems
  • Sonova enters into the high growth market of cochlear implant systems with expected market growth rates of 10-15% p.a.
  • Sonova’s strong commitment to innovation will boost Advanced Bionics’ position as an innovation leader in the cochlear implant industry
  • The Sonova Group targets to improve the performance of Advanced Bionics, doubling sales and increasing EBITA margin to 20% or beyond within the coming three to five years
  • With all cash consideration of USD 489 million plus transaction costs of CHF 10 million totaling CHF 510 million at current exchange rates, the transaction is expected to be accretive to earnings per share (EPS) before transaction-related amortization in the second full year after closing
Media Release