SALT LAKE CITY, Jan. 15 /PRNewswire-FirstCall/ -- Sonic Innovations, Inc. , a leading producer of advanced digital hearing aids and automated auditory testing equipment, today announced that it has signed a Support Agreement with Audigy Group, LLC. Audigy Group is the hearing (healthcare/aid) industry's largest member-owned hearing care management company comprised of leading and progressive independent practitioners from around the U.S.
"The selection of Sonic Innovations by Audigy is another demonstration of our world-class products, quality and service," said Sam Westover, President and CEO of Sonic Innovations. "We are currently Audigy's top supplier of hearing aids and this agreement solidifies the relationship between us. This transaction is a key component of our strategy to expand the distribution channels for our leading-edge products and demonstrates our strong commitment to building our reputation and presence with individual private hearing healthcare providers."
Brandon Dawson, Founder and Managing Member of Audigy, said, "Our members are excited about this support agreement with Sonic Innovations and we look forward to the contribution this relationship will have to the continued growth of both organizations during the upcoming year.
"Sonic Innovations has been instrumental in providing our organization with leading hearing care technologies. The company's commitment to new feature-laden quality products and excellent customer service has allowed Audigy Group's co-owners to successfully transition a majority of their business to Sonic Innovations from other larger hearing instrument manufacturers. As Sonic Innovations continues to introduce new products and leverage and refine its world-class service platforms, we expect our growth to accelerate throughout 2007."
Sonic Innovations designs, develops, manufactures and markets advanced digital hearing aids designed to provide the highest levels of satisfaction for hearing impaired consumers.
This press release may contain "forward-looking statements" as defined under securities laws. Actual results may differ materially and adversely from those described herein depending on a number of factors including, but not limited to, the following risks: the market acceptance of our products; we face aggressive competition in our business; acquisitions could be difficult to integrate, disrupt our business and harm our operating results; we may lose a large customer or suffer a reduction in orders from a large customer; we must have innovative, technologically superior products to compete effectively; our products, due to their complexity, may contain errors or defects that are only discovered after sales by our customers, thus harming our reputation and business; we may have issues with intellectual property; and we have important international operations, particularly in Germany and Australia, which expose us to a variety of risks that could result in lower sales and operating results. For additional information regarding the risks inherent in our business, please see "Factors That May Affect Future Performance" included in our Annual Report on Form 10-K for the year ended December 31, 2005, as filed with the Securities and Exchange Commission.
Sonic Innovations, Inc.CONTACT: Sam Westover, President and CEO, +1-801-365-2800, or MikeHalloran, Vice President and CFO, +1-801-365-2854, both of SonicInnovations, Inc.
