IntriCon Completes Acquisition of Hearing Help Express
IntriCon Corporation (IIN)
Last intricon corporation earnings: 2/24 04:39 pm
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US:NASDAQ Investor Relations:
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Source: Business Wire
Company Also Amends Credit Facilities, Increasing Domestic Borrowing Capacity and Improving Financial Flexibility ARDEN HILLS, Minn.--(BUSINESS WIRE)-- IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, announced that it has completed its acquisition of Hearing Help Express (HHE), acquiring the remaining 80-percent stake of the DeKalb, Ill.-based, direct-to-consumer mail order hearing aid provider. Terms of the transaction include $650,000 in cash, repayment of approximately $1.83 million in debt to HHE’s 80-percent holder and an earn-out. “Completing this acquisition gives IntriCon direct access to consumers and the emerging value-based hearing healthcare market,” said Mark Gorder, president and chief executive officer of IntriCon. “HHE offers a lower-priced alternative for consumers to purchase devices dire
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