IntriCon Announces Distribution Agreement with PC Werth in United Kingdom
December 04 2014 - 12:30PM
Business Wire
Appointed as a Main Supplier to the National
Health Service in the United Kingdom
IntriCon Corporation (NASDAQ: IIN), a designer,
developer, manufacturer and distributor of miniature and
micro-miniature body-worn devices, today announced it has signed an
exclusive distribution agreement for its low-cost, high-quality
hearing aid products with PC Werth Ltd in the United Kingdom.
PC Werth, through its partnership with IntriCon, has been
appointed as one of the main suppliers to the National Health
Service (NHS) Supply Chain’s National Framework. The NHS is the
largest purchaser of hearing aids in the world, supplying an
estimated 1.2 million hearing aids annually.
“We are very excited to announce our distribution agreement with
PC Werth,” said Mark S. Gorder, president and chief executive
officer of IntriCon. “This agreement expands our ability to serve a
new geography, including into the NHS. PC Werth was a natural
partner for IntriCon, given their strong market presence in the
United Kingdom and extensive experience with the NHS.”
Under the agreement, PC Werth will distribute IntriCon hearing
aid products under the Kamplex brand name. PC Werth will provide
the required marketing, selling, training and service support.
Said Tom Parker, managing director of PC Werth, “We are
delighted to partner with IntriCon—our high-quality, low-cost
hearing aids will provide more choices for clinicians and users
across the United Kingdom. Furthermore, we believe the introduction
of a range of hearing aids under the Kamplex brand has a strong
symbiosis with our existing range of diagnostic audiological
equipment and accessories that we provide to the NHS. This complete
service package will support sales of hearing aid devices, as well
as benefit our NHS customers.”
IntriCon is currently working on product approval with the NHS
Audiology Supplies Group and anticipates having product approved
and available for sale in the 2015 first quarter. Revenue for this
program is included in the company’s growth estimate for 2015.
Concluded Gorder, “This is another meaningful milestone in our
strategic plan to drive business in the value hearing health
market. The NHS is widely recognized as the most efficient hearing
aid delivery system in the world. We believe we are well positioned
to serve their needs and we are working on technologies to further
enhance efficiencies and standard in the future.”
About IntriCon CorporationHeadquartered 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.
About PC WerthEstablished in 1947 by Peter Werth, PC
Werth played an instrumental role establishing the UK’s independent
hearing healthcare sector and was instrumental in developing the UK
business for three of the World’s six largest hearing aid
manufacturers. Now a leading supplier of hearing healthcare
products and equipment to the NHS and all hearing healthcare
practitioners, PC Werth also supplies communication products and
associated services to schools and learning establishments.
Operating nationwide from offices in London, PC Werth provides a
genuinely personal and nationwide service to hearing healthcare
professionals, and delivers group communication solutions for
environments where the fundamentals of communication and hearing is
of primary importance. Find out more at www.pcwerth.co.uk.
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, 2013. 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.
At IntriCon:Scott Longval, CFO,
651-604-9526slongval@intricon.comorAt PadillaCRT:Matt Sullivan,
612-455-1700matt.sullivan@padillacrt.com
Intricon (NASDAQ:IIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Intricon (NASDAQ:IIN)
Historical Stock Chart
From Apr 2023 to Apr 2024