LloydsPharmacy Ltd and Sonetik join forces in UK

Market

Swiss hearing aid producer Sonetik AG has announced that it has signed a cooperation agreement with LloydsPharmacy Ltd, one of the biggest pharmacy chains in the UK, to supply hearing aids.

Sonetik is an innovative Swiss hearing care specialist based in Zürich that aims to provide easy access to high-quality hearing tests and hearing aids at affordable prices. It uses new distribution channels such as pharmacies, drugstores and physicians. Its main markets are currently Switzerland and the USA. Lloyds is one of the biggest pharmacy chains in the United Kingdom with more than 1,600 retail stores.

The two companies announced recently that they will partner to become the leading hearing care provider in the UK. The plan is to follow a simple sale and fit model. The partners will hold regular Sonetik hearing days at local LloydsPharmacy branches. Customers will be able to book an appointment for a free hearing test with a trained Sonetik expert, and in less than an hour be given a suitable hearing aid. The Sonetik hearing aids are being sold for a fixed price of GBP 395 (USD 660) in the UK. The two groups are also hoping to convince customers because of the proximity of the supplier stores. LloydsPharmacy stores can be found in nearly every town meaning that potential customers would not need to travel to find an audiologist or clinic.

According to LloydsPharmacy’s Market Development Director, Chris Frost, “We’re very pleased to be working with Sonetik as they provide a high-quality service which complements our community pharmacy offering very well. We know many of our customers are looking for more accessible hearing solutions from a source they can trust and by working with Sonetik we’ve made that search much easier for them.”

Source: Startup Ticker; Sonetik

C.S.