Amplifon strengthens its presence in India with 38 new stores in the most important cities. The group that produces hearing aids thus rises to 66 stores in the country and becomes the market leader. The acquisition of the new stores was made possible thanks to an agreement with GN ReSound, one of the world's leading manufacturers of hearing aids as part of a medium-long term strategic project that will leverage medical expertise and the network of Amplifon stores, while the devices distributed will be supplied by GN ReSound, a pioneer in the hearing aid sector.
A partnership, the group states in a note, "represents an operation of significant strategic value, since it allows it to further increase its presence in a geographical area with high potential for future development". India has a rapidly expanding market for hearing solutions, also due to the growing awareness of the Indian medical profession towards the continuous improvement of the diagnosis and treatment of problems related to hearing loss (in 2011 approximately 220.000 hearing aids were sold, with an increase of 15% compared to 2010).
"Although it is still widely underpenetrated and fragmented - notes Amplifon - the Indian market presents very promising prospects linked to the growing purchasing power of the population, the low rate of use of "digital devices" and the strong interest of the medical profession in supporting treatment of hearing loss. High-end solutions currently represent only 10% of the total market, but it is significant that only 5 years ago they were completely absent". On the Stock Exchange, Amplifon shares dropped 3,37%, just under the -3,88% of the Mid cap index.
