Sonova completed its $489 million acquisition of AB this week and announced the purchase of InSound Medical. According to the Reuters report, "InSound developed the first hearing system that is placed deep in the ear canal and is invisible from the outside. The hearing system can be used for up to 120 days before being replaced. The deal enables Sonova to tap into the market for mild to moderate hearing loss, which affects a younger age group that has so far been reluctant to wear a hearing aid. In the U.S. alone, there are around 36 million people with mild to moderate hearing loss who do not yet wear a hearing system -- many are potential new customers to whom we can now offer a solution," Sonova Chief Executive Valentin Chapero said in a statement."
Sonova shares rose 3.2% to an all-time high on Wednesday.
This is all great news for AB as the continued synergy between these companies will likely bear fruit for hearing impaired individuals for years to come.
This is great news for Lily as well since she is a new Sonova stock holder. Her Uncle John bought her some shares as a Christmas gift and it apparently is paying off in so many ways. Thanks Uncle John.