Otometrics begins new era as part of Natus – becomes the world’s largest independent provider of hearing aid fitting solutions.
Taastrup, Denmark | January 4, 2017 – Otometrics (formerly GN Otometrics) announced today that the transaction between between Natus (NASDAQ:BABY) and GN Store Nord A/S (GN.CO) under which Natus acquires the GN Otometrics ("Otometrics") business from GN Store Nord is completed. Otometrics is now part of Natus.
The all cash transaction for $145 million, which was announced September 26, 2016, means that Otometrics becomes the world’s largest provider of hearing aid fitting solutions – independent of hearing aid manufacturers.
“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.”
Founded in 1989, Natus Medical Incorporated is a leading manufacturer of medical devices and software and a service provider for the Newborn Care, Neurology, Sleep, Hearing and Balance markets. Natus products are used in hospitals, clinics and laboratories worldwide.
The Natus mission is to improve outcomes and patient care in target markets through innovative screening, diagnostic and treatment solutions. The acquisition of Otometrics makes Natus the strongest medical device company in the field, particularly in the US.
“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.
About Otometrics
Otometrics is an audiology industry leader providing hearing and balance diagnostic solutions to hearing care professionals worldwide. With more than 500 employees and offices in 20 countries, we help hearing care professionals succeed in improving the quality of life for millions of people by delivering expert knowledge, reliable solutions and trusted partnership.
Otometrics develops, manufactures and markets computer-based audiological, otoneurologic and vestibular solutions in more than 80 countries under the Otometrics MADSEN®, AURICAL®, HORTMANN® and ICS® brand names. Otometrics is part of Natus Medical Incorporated (NASDAQ:BABY). For more information about Otometrics, please visit www.otometrics.com. For more information about Natus, please visit www.natus.com.
