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Amplifon SpA announces entry in Israeli market through acquisition of 60 pct in Medtechnica Orthophone Ltd

Wednesday, 9 Apr 2014 02:53pm EDT 

Amplifon SpA:Signs an agreement for the acquisition of 60 pct of Medtechnica Orthophone Ltd, the Israeli provider of hearing aids and related services.Says, with a market share of around 30 pct, Medtechnica Orthophone operates through a network of 70 direct and indirect points of sale.Says the acquisition, in line with the Group’s internationalization strategy, makes it possible for Amplifon to enter a new market with growth potential.Says the transaction is worth about 12 million euros including the amount related to the call option on the remaining 40 pct and the impact of the consolidation of the acquired company’s debt.The transaction is expected to be finalized in the second quarter of 2014. 

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7:55am EDT