Sale of Otometrics to Natus Medical Inc final
Acquisition
Otometrics begins new era as part of Natus – becomes the world’s largest independent provider of hearing aid fitting solutions.
Otometrics (formerly GN Otometrics) has announced that the transaction between Natus (NASDAQ:BABY) and GN Store Nord A/S (GN.CO) under which Natus acquires the GN Otometrics (“Otometrics”) business from GN Store Nord is completed. Otometrics is now part of Natus.
The all cash transaction for $145 million, which was announced September 26, 2016, means that Otometrics becomes the world’s largest provider of hearing aid fitting solutions – independent of hearing aid manufacturers.
“The combination of Natus and Otometrics creates a global leader in hearing aid fitting, hearing assessment, hearing screening and balance assessment,” says Jim Hawkins, President and Chief Executive Officer of Natus. “The Otometrics brand will complement our current portfolio and will further increase our combined growth potential.”
“We are excited about becoming a part of Natus,” says Kim Lehmann, President and Chief Executive Officer of Otometrics. “With Natus as our owner and strategic partner, we gain a new freedom to operate on a global scale, independently from all hearing aid manufacturers. Collectively our product offerings and market presence will provide us with an even stronger platform for growth within all our customer segments: ENT, fitting, screening and neurology; and throughout all markets globally.”
Otometrics customers should expect no interruption in service and business continues as usual.
Source and photo: Otometrics
