Global retail deal with Amplifon has Audeara shouting from on top of the world
Medtech Audeara has signed a global supply deal with leading audiology retailer Amplifon which will see Audeara’s products available across all Amplifon clinics globally.
The global expansion plans of Audeara (ASX:AUA) continue apace, after the company strengthened its relationship with international audiology retail group Amplifon Global.
The new deal with the largest of the ‘big six’ corporations of its kind comes just a month after Audeara inked a reseller agreement with Specsavers – a somewhat surprising bedfellow at first glance, but one which is currently Australia’s fastest growing audiology network.
Brisbane-based Audeara develops and produces the world’s only full-fidelity headphones with an app-based hearing health check that can individualise sound to a person’s own needs.
Building on its strong revenue growth, Audeara has now negotiated for its products to be available across all Amplifon owned audiology clinics for an indefinite term. That’s 9,200 points of sale across 25 countries, with Amplifon’s share of the global market sitting at 11%.
Under the terms of the negotiations, Amplifon will buy a minimum of 5,000 Audeara A-02 TV bundles during the second half of calendar year 2022 across its worldwide network.
Representing more than half the total units Audeara sold last financial year, the purchase order represents a significant uptick in sales growth for the company.
“We look forward to offering our personalised listening solution to communities across five continents,” Audeara CEO Dr James Fielding said.
“The continued growth we’re seeing with the largest groups in the audiology sector provides confidence in our expansion strategy.”
The TV bundles include a streamer that can connect two Bluetooth compatible devices, allowing two people to enjoy listening tailored to their individual preferences.
Each territory will determine the timing and quantity of purchase of the bundles that best meets their needs.
However to maximise uptake, entry into each market will be coordinated between the two companies, and Audeara will assist Amplifon with marketing initiatives.
This latest agreement is also hot on the heels of Audeara completing a $1 million private placement with strategic investor Hsin-Chieh “Bill” Peng.
This article was developed in collaboration with Audeara, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.