Sonova completes acquisition of the HYSOUND Group, expanding direct consumer access in China
Sonova Holding AG / Key word(s): Acquisition
Stäfa (Switzerland), December 5, 2022 – Sonova Holding AG, a leading provider of hearing care solutions, has successfully completed the acquisition of the HYSOUND Group, first announced on August 19, 2022. As one of the leading nationwide chains of audiological care clinics in China, with around 200 clinics in over 20 provinces and more than 70 cities, the HYSOUND Group will significantly enlarge Sonova’s store footprint and direct consumer access in this fast-growing market.
Arnd Kaldowski, CEO of Sonova, says: “I would like to extend a warm welcome to the new colleagues who are joining us from the HYSOUND Group. Increasing consumer access through our Audiological Care business is one of the key pillars of Sonova’s strategy. We look forward to combining the complementary strengths of Sonova and the HYSOUND Group to expand our consumer access in the fast-growing market in China together.”
William YingWei Wang, founder & CEO of the HYSOUND Group, adds: “We are confident of the fast growth of China’s hearing healthcare market. With the support and strength of the Sonova Group, we look forward to offering further high-quality products and professional services to new and existing consumers of the HYSOUND Group.”
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Thomas Bernhardsgrütter +41 58 928 33 44
Karl Hanks +41 76 367 72 56
Sonova operates through four businesses – Hearing Instruments, Audiological Care, Consumer Hearing and Cochlear Implants – and the core brands Phonak, Unitron, AudioNova, Sennheiser (under license) and Advanced Bionics as well as recognized regional brands. The Group’s globally diversified sales and distribution channels serve an ever growing consumer base in more than 100 countries.
In the 2021/22 financial year, the Group generated sales of CHF 3.4 billion, with a net profit of CHF 664 million. Over 17,000 employees are working on achieving Sonova’s vision of a world where everyone enjoys the delight of hearing.
For more information please visit www.sonova.com.
Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH0012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.
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