IntriCon Signs Supplier Agreement for AudioNova’s smartsound Brand of Listening Devices
July 10 2015 - 11:13AM
Business Wire
IntriCon Corporation (NASDAQ: IIN), a designer,
developer, manufacturer and distributor of miniature and
micro-miniature body-worn devices, today announced it has signed a
two-year manufacturing agreement with AudioNova International B.V.
for their smartsound brand of listening devices. AudioNova is one
of Europe’s leading hearing aid providers, operating more than
1,300 retail stores in 11 countries.
Through the program, AudioNova will offer technically advanced
hearing devices, manufactured by IntriCon. AudioNova’s smartsound
brand is based on IntriCon’s Audion™ amplifier, which includes
proven value-added features such as wide-dynamic-range compression,
patented adaptive feedback cancelling and layered noise reduction,
at value hearing health price points.
“We are thrilled to work with AudioNova to deliver high-quality,
low-cost hearing devices to the European market,” said Mark S.
Gorder, president and chief executive officer of IntriCon.
“AudioNova is one of the largest and most well-respected hearing
aid retailers in Europe—and this is a great opportunity for both
organizations. Furthermore, we believe our value hearing health
vision is closely aligned with their focus on removing barriers to
hearing device use.”
AudioNova has begun rollout of the smartsound brand in the
Netherlands and intends to expand the program to other targeted
European countries in the future. IntriCon expects to begin
shipping product in the third quarter. Revenue from this program is
included in the company’s growth estimate for 2015.
Concluded Gorder, “This is another meaningful milestone in our
strategy to drive business in the growing value hearing health
market. And we are very pleased to be expanding our European
presence, especially with a partner of AudioNova’s stature. As a
company, we are well-positioned to serve their needs and we look
forward to our partnership.”
About AudioNova International B.V.Headquartered in
Rotterdam, Netherlands, AudioNova International B.V. is one of the
largest retail hearing aid companies on the world. The company
operates over 1,300 retail stores in 11 European countries. The
company is focused on providing their customers with the selection
of the best hearing solution for their needs, improving quality of
life through better hearing. AudioNova is owned and supported by
HAL Investments, an active long term investor who is fully
committed to assist and finance AudioNova’s strategy. For more
information about AudioNova, visit http://www.audionova.com.
About IntriCon CorporationHeadquartered in Arden Hills,
Minn., IntriCon Corporation designs, develops, manufactures and
distributes miniature and micro-miniature body-worn devices. The
company is focused on three key markets: medical, hearing health,
and professional audio communications. 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 StatementsStatements 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, 2014. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150710005511/en/
At IntriCon:Scott Longval, CFO,
651-604-9526slongval@intricon.comorAt PadillaCRT:Matt Sullivan,
612-455-1700matt.sullivan@padillacrt.com
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