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 Corporation
Headquartered 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 Werth
Established 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 Statements
Statements 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.
Contacts:
Scott Longval, CFO, 651-604-9526
slongval@intricon.com
or
At
PadillaCRT:
Matt Sullivan, 612-455-1700
matt.sullivan@padillacrt.com