- Nuheara (NUH) has secured a global supply agreement with Switzerland-based company Sonova AG to supply its products worldwide
- The initial three-year deal will see Nuheara manufactured and branded products be delivered to Sonova and its affiliates
- Under the agreement, Nuheara will initially supply its products to Sonova entities in the USA and Australia, with further regions to follow shortly after
- As yet, there are no volume commitments or minimum contract value terms for the deal
- Nuheara shares are up 10.5 per cent to 2.1 cents at 11:05 am AEDT
Nuheara (NUH) has locked in a global supply agreement with Switzerland-based company Sonova AG to supply its products worldwide.
Nuheara is a smart hearing technology company that has developed multi-functional, personalised intelligent hearing devices that augment the wearer’s hearing.
The three-year deal with the global supplier of hearing care solutions will see Nuheara manufactured and branded products be delivered to Sonova and its affiliates around the world.
Sonova reaches its customers through multiple channels, including online and via 3200 clinics in over 100 countries globally, including roughly 140 points of sale in Australia. The company’s core hearing aid brands include AudioNova, Geers, Boots Hearing Care, Lapperre, World of Hearing, and Connect Hearing.
Under the agreement, Nuheara will initially supply its products to Sonova entities in the USA and Australia, with further regions to follow shortly after.
As yet, there are no volume commitments for the deal and no minimum contract value. The deal may only be cancelled via breach of performance or change of control.
“The agreement reflects our many years of hard work developing innovative hearing products as well as Nuheara’s reputation for quality in the global market,” Nuheara Co-founder & CEO Justin Miller said.
Nuheara shares are up 10.5 per cent to 2.1 cents at 11:05 am AEDT.