GN Hearing, dba GN ReSound, a Danish manufacturer of hearing instruments and audiological diagnostics equipments and headsets, has acquired Audigy group, a Vancouver-based member-owned organization that provides business management services to the private practice hearing care industry.
The acquisition agreement, which closed earlier this month, is made up of two components: an upfront payment of $91 million and earn-out payments of up to $60 million, dependent on the company´s financial success going forward.
In a press release, GN Hearing said it plans to “preserve and benefit from” Audigy’s business model and management team, and Audigy will operate as a separate company and subsidiary of GN Hearing’s U.S. business entity.
“Partnering with GN ReSound, a leading, innovative hearing technologies company, willing to invest in and support the independent channel in North America, is a significant compliment for our members and the professionals we serve, and will help us to continue to achieve our mission of impacting independent business owners’ ability to thrive in a consolidating industry,” said Brandon Dawson, who founded Audigy Group in 2004.
A repeat finalist for the VBJ’s Business Growth Awards, Audigy Group has been named in the INC 5000 list on 5 different occasions.