Sonova:Able To Pursue Further Growth Post Advanced Bionics Buy
09 November 2009 - 9:32PM
Dow Jones News
Swiss hearing aid maker Sonova Holdings AG (SOON.VX) will
maintain sufficient financial flexibility to pursue further growth
initiatives after announcing plans to buy U.S.-based cochlear
implant systems maker Advanced Bionics Corporation, Chief Executive
Valentin Chapero said Monday.
Earlier Monday, Sonova said it plans to buy the U.S.-based
cochlear implant systems maker for $489 million, which was widely
welcomed by the market.
The deal, which costs Sonova a total of 510 million Swiss francs
($505.9 million), is subject to regulatory approval.
Sonova will report first half figures for its 2010 fiscal year
on Tuesday.
Company Web Site: http://www.sonova.com
-By Julia Mengewein, Dow Jones Newswires; +41 43 443 80 45;
julia.mengewein@dowjones.com
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