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MED-EL announces the signature of an asset purchase agreement with
Symphonix Inc, the Nasdaq listed Silicone Valley based developer of the
world’s first US-FDA and CE-approved middle ear implant for moderate to
severe sensorineural hearing loss with currently close to 1000 device
users worldwide.
The agreement is contingent on Symphonix’ shareholders’ approval which is
expected within 60 days. MED-EL will produce, further develop, market, and
service the Vibrant Soundbridge.
The Vibrant® Soundbridge® product represents an innovative approach to
hearing improvement – the first implantable middle ear hearing device.
Unlike acoustic hearing aids, which increase the volume of sound that goes
to the eardrum, the Vibrant Soundbridge bypasses the ear canal and eardrum
by directly vibrating the small bones in the middle ear. Because of its
design, no portion of the device is placed in the ear canal itself.
MED-EL is a leading company in the field of cochlear implants with its
headquarters in Innsbruck, Austria, and through its technology leadership
is the fastest growing cochlear implant company. An international team of
42 nationalities in 14 subsidiaries meets the needs of the deaf and
hearing impaired in 70 countries worldwide. The newly founded company
VIBRANT MED-EL will continue this commitment with the product Vibrant®
Soundbridge®.
The goal of VIBRANT MED-EL and MED-EL will be the global distribution of
the device and its further development. The inventor of the Vibrant
Soundbridge, Geoffrey Ball, will be VIBRANT MED-EL’s chief technology
officer.
After the completion of the transaction the customer service and marketing
and sales activities will quickly commence mostly through the existing
MED-EL distribution network. Because of the existing synergy potential a
smooth and successful start can be expected. The teams of MED-EL and
VIBRANT MED-EL are convinced of the future success of the most advanced,
widespread and technologically leading middle-ear implant Vibrant®
Soundbridge®.
To learn more about MED-EL visit
http://www.medel.com
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