Sonova substantially increases its US consumer access by purchasing Alpaca Audiology
acquisitions
One of the largest independent hearing care networks in the USA, Alpaca Audiology, has been purchased for $310m by Swiss giant Sonova, significantly expanding the group's direct consumer access.
Founded in 2011, Alpaca has some 220 clinics, comprising 13 regional brands in the US Northeast, Midwest and South. It currently employs over 500 people. This adds to Sonova’s global Audiological Care network of more than 3,200 locations in 20 key markets. In the US, the business is mainly represented by its brand Connect Hearing, a network of very similar proportions to Alpaca.
What will the deal bring Sonova?
The Swiss group announced that the Alpaca deal, which is to be made on a cash and debt free basis, and financed through the existing cash balance, is expected to contribute annual revenues of around $120m
“This is an exciting step for Sonova. The addition of Alpaca Audiology to our Audiological Care business will significantly increase our presence in the US, the world’s largest audiological care market. With the acquisition, we are doubling our network in the country, strongly expanding our consumer access.” said Arnd Kaldowski, CEO of Sonova.
The transaction, for which Goldman Sachs International (“GSI”) acted as financial advisor, is pending regulatory approval and expected to close before the end of financial year 2021/22.
Source: Sonova
