Amplifon is well known to us and we have had many constructive meetings over the last few years with Franco Moscetti, Group CEO of Amplifon, and his management team. Our thinking on strategy, the importance of client service and values are very much align
(PRWEB) October 1, 2010
NHC is pleased to announce that agreement was reached in London on Monday night for Amplifon S.p.A, the leading global audiology group, to acquire NHC Group for A$460 million.
Paul Mirabelle, Group CEO of NHC, said the transaction was a very good one for both organisations.
“Amplifon is well known to us and we have had many constructive meetings over the last few years with Franco Moscetti, Group CEO of Amplifon, and his management team. Our thinking on strategy, the importance of client service and values are very much aligned,” Mr Mirabelle said.
“NHC brings to Amplifon a leadership position in Australia, through National Hearing Care, and in New Zealand, through Bay Audiology and NHC New Zealand. In addition, we have a new and emerging position in India through Hearing Care India. NHC’s Asia Pacific focus is particularly attractive to Amplifon and helps fill out their global portfolio.”
Mr Mirabelle said the transaction was concluded after a comprehensive dual track sale process that involved running separate trade sale and initial public offering processes.
“Given the quality of the business, there was strong interest on both fronts and the process also attracted
significant market speculation. For a while there, it appeared we would be the company to re-open the IPO
stream in Australia,” he said.
Mr Mirabelle said the existing NHC management team would continue to run the businesses within the broader Amplifon group and that no changes were expected to impact on NHC Group’s employees at large.
NHC is the leading audiology provider in Australia and New Zealand with approximately 200 clinics and an emerging business in India. Over 200 clinical professionals supported by a broader team of over 400 employees focus on providing outstanding hearing care for its clients.
Amplifon is the largest audiology group in the world. The company is listed on the Milan Stock Exchange and has extensive audiology operations throughout Europe and North America. Amplifon’s practices are in Italy, France, The Netherlands, Germany, Spain, Portugal, Switzerland, Belgium, Hungary, UK, Ireland, Egypt, US and Canada.
NHC was advised by JP Morgan and Macquarie Bank.
For more information please contact:
Paul Mirabelle, CEO NHC Group
+61 2 9091 8440
Michael Sharp, Kreab Gavin Anderson
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