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04/01/2010 | 07:00 CET | Company announcement

Acquisition of Advanced Bionics completed

Sonova Holding AG, the world's leading provider of hearing systems, announces today, that it has successfully completed the acquisition of Advanced Bionics Corporation, Los Angeles, USA, for a transaction value of USD 489 million following the regulatory approval of the relevant competition authorities. Advanced Bionics is a global leader in developing and manufacturing cochlear implant systems.
Sonova becomes the first global hearing healthcare company with a strong worldwide presence in hearing instruments and cochlear implant systems. The Group aims to double the revenue of Advanced Bionics within the next three to five years and to increase its EBITA margin to 20% or beyond. Advanced Bionics will remain an independent business unit within the Group.