Sonova strengthens partnership with Boots UK
Staefa (Switzerland), 22.02.2013 - Sonova Holding AG, the world's leading
provider of hearing solutions, announces today that Boots UK Limited, the UK's
leading pharmacy-led health and beauty retailer and member of Alliance Boots,
acquired a 49% minority stake in David Ormerod Hearing Centres, a Sonova Group
company. The move further strengthens the partnership between the two
companies and reflects a long-term commitment to the successful shop-in-shop
business model. Financial details of the transaction are not disclosed.
David Ormerod Hearing Centres launched its partnership with Boots in 2003,
operating shop-in-shop centres within a number of Boots stores in the UK.
Starting with 64 locations, the arrangement has since achieved rapid but
stable growth and today operates over 340* Boots hearingcare locations
throughout the UK. By offering professional audiological services to customers
while increasing store traffic at Boots, the partnership benefits all parties
involved, both in quality of care and business terms.
"The financial commitment gives testament to Boots' belief in the bright
future of the partnership", said Lukas Braunschweiler, CEO of Sonova. "Sonova
is pleased to further strengthen and secure the long-term relationship with
Boots UK. Together, we will continue to provide high-quality professional
audiological services to our customers in the UK and pursue the long-term
growth of the business."
* as of February 2013
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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 uncertainties 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.
Sonova Holding AG, headquartered in Staefa, Switzerland, is the leading
manufacturer of innovative hearing care solutions. The group operates through
its core business brands Phonak, Unitron, Advanced Bionics and Connect
Hearing. Sonova offers its customers one of the most comprehensive product
portfolios in the industry - from hearing instruments to cochlear implants to
wireless communication solutions. Founded in 1947, the group is currently
present in over 90 countries across the globe and has a workforce of over
8,500 dedicated employees. Sonova generated sales of CHF 1,62 billion in the
financial year 2011/12 and a net profit of CHF 246 million. By supporting the
Hear the World Foundation, Sonova pursues its vision of a world where everyone
enjoys the delight of hearing and therefore lives a life without limitations.
For more information please visit www.sonova.com and www.hear-the-world.com.
Sonova shares (ticker symbol:SOON, Security no: 1254978, ISIN: CH1012549785)
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.
Media Release (PDF)
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