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Investments and divestments
In the financial year 2018/19, the Group acquired several small companies in Europe, Americas and Asia/Pacific. Furthermore, the Group divested several audiological care stores in the US region. All of these companies acquired/divested are in the business of producing and/or distributing and servicing hearing instruments. Due to the size of these transactions, they had no material impact on the financial statements.
On March 30, 2018, Sonova Holding AG signed an agreement to divest Ear Professional International Corporation ("EPIC"), representing the Group's US insurance subcontracting business for hearing aids. Further in the 2017/18 reporting period, the Group divested two minor group companies in the EMEA region.
The effect of the acquisitions and divestments for the 2018/19 financial year is disclosed in Note 6.1 of the Sonova Annual Report 2018/19.