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.
Highlights:
- The HYSOUND Group’s nationwide organization and successful retail business model provides a strong platform for Sonova’s further expansion in China.
- The HYSOUND Group’s strengths are a good strategic fit with Sonova’s industry leading digital consumer engagement capabilities in China, which include strong partnerships and a large number of online followers and direct consumer interactions.
- In calendar year 2021, the HYSOUND Group generated a net revenue of approximately RMB 230 million (around CHF 32 million).
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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Contacts:
Investor Relations
Thomas Bernhardsgrütter +41 58 928 33 44
Jessica Grassi +41 58 928 33 22
ir@sonova.com
Disclaimer
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova’s control. Should one or more of these risks or un-certainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
About Sonova
Sonova is a global leader in innovative hearing care solutions: from personal audio devices and wireless communication systems to audiological care services, hearing aids and cochlear implants. The Group was founded in 1947 and is headquartered in Stäfa, Switzerland.
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.
