IntriCon Completes Divestiture of Security, Certain Microphone and Receivers Businesses

  IntriCon Completes Divestiture of Security, Certain Microphone and Receivers
  Businesses

      Sierra Peaks Corporation of New Mexico Acquires IntriCon Tibbetts

Business Wire

ARDEN HILLS, Minn. -- January 28, 2014

IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and
distributor of miniature and micro-miniature body-worn devices, today
announced that it has completed the previously announced divestiture of
Camden, Maine-based, IntriCon Tibbetts and its associated security, certain
microphone and receivers businesses. IntriCon sold the business to Sierra
Peaks Corporation, an Albuquerque, New Mexico-based corporation. The sale of
security, certain microphone and receivers businesses, which closed on January
27, 2014, marks the final milestone in the global strategic restructuring plan
announced by the company in June 2013. Financial terms of the deal were not
disclosed.

“The conclusion of our global strategic restructuring plan will allow us to
accelerate the company's future growth by focusing our resources on the
highest potential growth areas: medical biotelemetry and value hearing
health,” said Mark S. Gorder, president and chief executive officer at
IntriCon. “We are very pleased to have found excellent ownership to take over
IntriCon Tibbetts and retain many of our skilled and dedicated employees.”

IntriCon had previously disclosed its plan to divest the securities, certain
microphone and receivers businesses, and results of operations for the
businesses have been reported in discontinued operations since the second
quarter of 2013.

Said John Rockwell, President of Sierra Peaks Corporation, “Sierra Peaks
Corporation is the established leader in designing, developing and
manufacturing high-quality customized systems. The acquisition of IntriCon
Tibbetts provides a multitude of synergies for our existing business as we
look to further broaden our engineering, technical skills and manufacturing
capabilities. We intend to serve the loyal customer base of IntriCon Tibbetts,
while expanding our reach and product offerings.”

About Sierra Peaks Corporation
Based in Albuquerque, New Mexico, Sierra Peaks Corporation is an agile, common
sense, engineering, design, prototyping and manufacturing company. Sierra
Peaks has over 40 years of experience in designing and building hundreds of
custom systems for the government and commercial industry, including the
aerospace and automation industries.

About IntriCon Corporation
Headquartered in Arden Hills, Minn., IntriCon Corporation designs, develops
and manufactures miniature and micro-miniature body-worn devices. These
advanced products help medical, healthcare and professional communications
companies meet the rising demand for smaller, more intelligent and better
connected devices. IntriCon has facilities in the United States, Asia and
Europe. The company’s common stock trades under the symbol “IIN” on the NASDAQ
Global Market. For more information about IntriCon, visit www.intricon.com.

Forward-Looking Statements
Statements made in this release and in IntriCon’s other public filings and
releases that are not historical facts or that include forward-looking
terminology are “forward-looking statements” within the meaning of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
may be affected by known and unknown risks, uncertainties and other factors
that are beyond IntriCon’s control, and may cause IntriCon’s actual results,
performance or achievements to differ materially from the results, performance
and achievements expressed or implied in the forward-looking statements. These
risks, uncertainties and other factors are detailed from time to time in the
company’s filings with the Securities and Exchange Commission, including the
Annual Report on Form 10-K for the year ended December 31, 2012. The company
disclaims any intent or obligation to publicly update or revise any
forward-looking statements, regardless of whether new information becomes
available, future developments occur or otherwise.

Contact:

At IntriCon:
Scott Longval, CFO, 651-604-9526
slongval@intricon.com
or
At PadillaCRT:
Matt Sullivan,612-455-1700
matt.sullivan@padillacrt.com
 
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