Copenhagen, 2011-08-09 06:00 CEST (GLOBE NEWSWIRE) -- Cochlear™ and GN Resound have entered into a Technology Development and License agreement, whereby GN ReSound will license and supply Cochlear™, the global leader in innovative, implantable hearing solutions, its 2.4 GHz wireless technology.
“The agreement with Cochlear™ is another strong testimony to the attractiveness of GN ReSound’s 2.4 GHz wireless technology which we currently, as the only hearing aid manufacturer, is using. One of the benefits of the technology is that it enables the end-user to receive streamed sound directly without wearing an intermediary device around the neck. The agreement is an exciting opportunity to leverage our wireless technology within the field of implantable hearing solutions and is yet another strong indication that GN ReSound’s 2.4 GHz wireless technology will be the technology of the future for wireless streaming in hearing instruments,” says GN ReSound CEO Lars Viksmoen.
The agreement between GN ReSound and Cochlear™ will only have limited impact on the financial results for 2011 and the guidance for 2011 is therefore unchanged.
About Cochlear™ Limited:
Cochlear™ is the global leader in implantable hearing solutions. It has a dedicated global team of 2,000 people in over 100 countries. Cochlear™ offers implants and bone anchored hearing technologies for hearing impaired that are unable to use ordinary hearing devices. In fiscal year 2010, revenue was AUD 735 million and its market cap was AUD 4,198 million at June 30, 2010. Cochlear™ is listed on ASX, Australian Securities Exchange.
For further information, please contact:
Mikkel Danvold
VP, IR & Communications
GN Store Nord A/S
Tel: +45 45 75 02 71
