West Chester, PA - American Hearing Aid Associates, Inc. (AHAA) announced today that the company had entered into an investment agreement with William Demant Holding Group. Under the terms of the agreement, Demant Holding will acquire a passive, minority interest in AHAA that will give the group of international companies worldwide rights to use AHAA's business model and intellectual materials with international customers.
'The William Demant Holding Group shares our commitment to providing business, marketing and training services to independent hearing care practitioners,' said Vince Russomagno, President of AHAA. 'We believe the group's investment will strengthen AHAA and enhance our ability to bring our associates an even broader range of cutting-edge services.'
'William Demant Holding continues to look for successful, established companies with solid growth potential, like AHAA, that strive to improve the quality of hearing health care,' explained Mikael Worning, a spokesperson for the William Demant Holding Group. 'AHAA is one of the most successful companies in the U.S. in providing business solutions to hearing care professionals who are not members of one of the hearing aid chains. AHAA offers a much needed support system for these dedicated independent practitioners.'
AHAA will remain independent, under the control of the founding management, and will continue to act as a multi-line supplier of hearing instruments, with Demant Group products as an option. 'We will continue to present a full range of hearing instruments and products to our associates,' noted Russomagno.
AHAA is a multi-brand wholesale distributor of hearing aids and business services to the North American market. Among the advantages AHAA offers independent hearing care professionals are systematized and thoroughly tested business principles. The principles include management and business systems, marketing programs, referral programs, training programs and course modules, as well as a managed care program. Over 1,300 practitioners, representing over 1,800 sites, are associates of AHAA. For more information on AHAA, log onto www.ahaanet.com.
The William Demant Holding Group of international companies develops, manufactures and sells innovative and high technology solutions. The Group operates in a global market. Its core business is hearing aids. Major companies in the Group are Oticon, Bernafon, Phonic Ear, Maico, and Interacustics. For more information on William Demant see www.demant.dk.
For more information on Oticon click here.
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