GN Hearing has announced the closing of its divestment of Otometrics, its hearing testing device segment. GN Hearing had announced on September 25, 2016, as reported in Hearing Review, a contingent agreement to divest Otometrics to Natus Medical Inc (“Natus”).
According to GN Hearing, the divestment of its hearing testing device segment will further strengthen the company’s focus and strategic direction as a dedicated hearing instrument company, with GN Hearing being in a unique position to continue to deliver industry leading growth and profitability.
“The divestment of Otometrics underlines GN Hearing’s dedicated and focused hearing instrument strategy,” said Anders Hedegaard, CEO of GN Hearing. “Together with our innovation leadership and technology agility, we want to continue to create shareholder value based on our core competencies within sound processing.”
Otometrics—which owns the Aurical, Madsen, and ICS brands, as well as Audiology Systems and GENIE sound rooms—is a large developer and manufacturer of hearing and balance assessment equipment. Its products include testing equipment and software for newborn hearing, audiologic diagnostics, and comprehensive hearing testing and fitting, and includes audiometry, immittance, evoked potential, infant screening, video otoscopy, ENG/VNG, calorics, and balance platforms.
In a separate announcement, Otometrics reported that now that the sales transaction between Natus and GN Store Nord A/S is complete, the company begins a new era as part of Natus – becoming the world’s largest independent provider of hearing aid fitting solutions. Formerly known as “GN Otometrics,” the company will now be known as “Otometrics.” The all-cash transaction for $145 million was previously announced in September 2016.
“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.
Natus is a Nasdaq-listed company (BABY) with revenues of US$376 million in 2015, and is a provider of healthcare products and services used for the screening, detection, treatment, monitoring, and tracking of common medical ailments in neurological dysfunction, epilepsy, sleep disorders, newborn care, hearing impairment, and balance and mobility disorders.
Source: GN Hearing