(Source: Business Wire)Advanced Bionics (AB), the only U.S.-based manufacturer of cochlear implants (or "bionic ears"), announced today that it has entered into a definitive merger agreement with Sonova Holding AG, the world's leading provider of hearing systems. Pending regulatory and shareholder approval, the transaction is expected to close within the next three months. The acquisition represents a strategic expansion into the area of cochlear implants for the Sonova Group, enabling the group to offer a comprehensive range of solutions for hearing loss.

"Sonova was attracted to our company for our advanced technology, commitment to our patients and our potential for expansion," said Jeffrey Greiner, CEO of Advanced Bionics. "Not only will we continue to grow under the leadership of Sonova, but we have taken an enormous step toward ensuring that AB remains the industry's performance leader, now and in the future. We are truly excited by the technological possibilities that this acquisition will offer our candidates and our recipients."

The Sonova Group brings together Advanced Bionics, a global leader in cochlear implant manufacturing, and Phonak, a global provider of micro hearing systems. Both pioneers in their field, Advanced Bionics and Phonak have 75 years of combined experience in engineering innovative hearing solutions.

Like Phonak, AB will remain an independent division within the Sonova Group, but will share the elements that have been driving the success of AB's new parent company over the last decade: global sales coverage, outstanding customer service, a global supply chain, and a dedication to innovation. The partnership will also provide:

Versatile, attractive, easy-to-use products

High-performance hearing devices

State-of-the-art acoustics and engineering

Industry-leading technology and performance innovations

Expanded international distribution

Lifelong commitment to patients' needs

Attentive, caring customer service

Improved quality of life for patients

In addition, Phonak's proven capabilities in the field of micro auditory devices will set the stage for AB to develop smaller, higher performing sound processors for patients across the globe.