InterChina Partners advises Sonova AG on its acquisition of Hysound

InterChina Partners, a leading independent corporate finance advisory firm in China, is pleased to announce that it has advised the global leader in hearing aids, Sonova AG, on its acquisition of 100% equity interest in Hysound. The parties entered definitive agreement on 18 August 2022, subject to customary closing conditions, with the closing expected in the second half of FY 2022/2023. Sonova also engaged Goldman Sachs International as its financial advisor for this transaction.

Sonova AG is a global leader in innovative hearing care solutions: from personal audio devices and wireless communication systems to audiological care services, hearing aids and cochlear implants. The Group was founded in 1947 and is headquartered in Stäfa, Switzerland. In the 2021/22 financial year, the Group generated sales of CHF 3.4 billion, with a net profit of CHF 664 million.

Hysound is one of the leading hearing aid retailers in China with over 200 stores located in 20 provinces and more than 70 cities in China. Hysound is one of the oldest, high premium and professional hearing care companies in China. It provides full hearing care services, diagnostic, fitting, product dispensing, and training.

Arnd Kaldowski, CEO of Sonova, says: “This is another important move to increase our consumer access through our audiological care business, which is one of the key pillars of our strategy. China is by far the largest high-growth market globally, which is particularly attractive due to their aging population. We project that the rapid growth of their middle class will strongly increase today’s very low hearing instrument penetration in the next 5 to 10 years. This acquisition puts Sonova in an excellent position to achieve a large-scale consumer access in China. HYSOUND Group, with its rapidly growing traditional retail business, represents the perfect platform to further accelerate Sonova’s participation in the audiological care segment of China.”

InterChina’s deal team is led by Barry Chen, Partner in Charge, and an early involvement of Delia Zhang, Shirley Huang, both directors.

“We are delighted to have supported Sonova in this this highly strategic transaction. Sonova is an incredibly innovative company and by far the global leader in audio care. I believe that Sonova has taken a long-term view on China and made an excellent call in this acquisition. The retail infrastructure will not only allow Sonova to have direct access to Chinese customers, but also serves as a foundation for increasingly broader product offerings of Sonova”

InterChina served as Sonova’s advisor in deal origination and negotiation support.


Sonova AG advised by

InterChina Advisors
Barry Chen
Partner in Charge
Delia Zhang
Shirley Huang
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