ReSound Corporation Announces Acquisition of Apex Acoustics, Ltd.
Monday May 11, 8:01 am Eastern Time
REDWOOD CITY, Calif.--(BW HealthWire)--May 11, 1998--ReSound
Corporation (NASDAQ NMS:RSND - news) today announced that it has
acquired the business of Apex Acoustics, Ltd., a manufacturer of
custom hearing devices in the United Kingdom.
Apex Acoustics had been owned by Ultratone Group, the largest hearing
device retail chain in the United Kingdom, located outside of Oxford,
England. ReSound will immediately consolidate its United Kingdom
subsidiary into the Apex facility. Concurrent with the sale and
purchase of Apex Acoustics, ReSound and Ultratone announced the
signing of a multi-year supply agreement for custom hearing devices
including products that incorporate ReSound's proprietary sound
processing technology.
''The acquisition of Apex should set the stage for ReSound to become
one of the top hearing device suppliers in the growing private market
in the United Kingdom,'' said ReSound President and CEO Russell Hays.
''With the purchase of Apex, we obtained a skilled work force and a
significant increase in custom manufacturing capacity which will
allow us to better serve this key European market.''
ReSound is a hearing health care company that designs, develops,
manufactures and markets technologically advanced hearing devices
throughout the world.
Contact:
ReSound Corporation
Jane Whaley, 650/261-6932
www.resound.com
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