Irish medical technology firm Medtronic has completed the acquisition of US-based magnetic hearing implants developer and manufacturer Sophono.
Terms of the deal have not been disclosed.
The acquired business will allow Medtronic to expand its ear, nose and throat (ENT) business through developing new therapies and advanced technology solutions.
Medtronic senior vice-president and Restorative Therapies surgical technologies business president Mark Fletcher said: "As the leader in ENT products and therapies, Medtronic is proud to add Sophono’s minimally invasive, low profile hearing implants to our extensive otologic portfolio.
"This acquisition enables us to partner with more surgeons worldwide to help more patients experience better hearing."
Currently, Sophono’s magnetic bone conduction hearing implants are marketed in 42 countries, which are developed for patients five years and older with single-sided deafness (SSD) or conductive, mixed hearing loss.
The firm’s magnetic and transcutaneous Alpha 2 MPO sound processor allows ENTs and audiologists to restore patient hearing through a simple and minimally invasive procedure.
Featuring Transcutaneous Energy Transfer (TET) technology, the Alpha 2 MPO helps patients to achieve improved hearing without the potential skin-related complications associated with current abutment-based percutaneous systems.
Medtronic surgical technologies business develops products and procedural solutions for surgical applications, including ear, nose, and throat, neurosurgery spinal surgery, orthopaedics and surgical oncology.
Around 360 million people are suffering from hearing loss across the globe, as per the World Health Organization.
Image: Medtronic operational headquarters, Minneapolis. Photo: courtesy of Medtronic, Inc.