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Sonova Holding AG
Legal Proceedings Report • Mar 8, 2022
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Legal Proceedings Report
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Ad-hoc | 8 March 2022 17:45
Judgment in patent infringement case – Advanced Bionics files appeal
Sonova Holding AG / Key word(s): Legal Matter
08-March-2022 / 17:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR
Stäfa (Switzerland), March 8, 2022 – Sonova Holding AG, a leading provider of hearing care solutions, informs that the Regional Court of Mannheim in Germany has reached a judgment in the first instance in a patent infringement lawsuit brought by MED-EL Elektromedizinische Geräte GmbH (Med-El) against its German subsidiary Advanced Bionics GmbH and Swiss subsidiary Advanced Bionics AG (AB). The court’s judgment includes an injunction which, if and when enforced by Med-El, would prevent sales of the HiRes Ultra 3D cochlear implant in and from Germany. AB believes the complaint has no merit and has therefore appealed the judgment. The judgment does not affect Sonova’s guidance for financial year 2021/22.
AB will continue to offer its existing and also 1.5T MRI-safe product HiRes Ultra and related accessories in Germany. If enforced, the injunction by Med-El is expected to reduce annual revenues by a mid- to high-single digit million euro amount.
AB has carefully investigated the patent involved and concluded that the patent asserted by Med-El is not infringed and/or not valid. While the ultimate outcome of the dispute remains open, AB continues to believe the complaint has no merit and is vigorously defending its position and intellectual property in court. AB strongly disagrees with the judgment and has appealed the decision. In connection with the appeal, AB will request the appellate court to issue a temporary stay of enforcement of the injunction.
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Contacts:
Investor Relations
Thomas Bernhardsgrütter
Phone +41 58 928 33 44
Mobile +41 79 618 28 07
Email [email protected]
Media Relations
Christiane Jelinek
Phone +41 58 928 33 67
Mobile +41 76 358 80 36
Email [email protected]
Disclaimer
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova’s control. Should one or more of these risks or un-certainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
About Sonova
Sonova is a global leader in innovative hearing care solutions: from personal audio devices and wireless communication systems to audiological care services, hearing aids and cochlear implants. The Group was founded in 1947 and is headquartered in Stäfa, Switzerland.
Sonova operates through four businesses – Hearing Instruments, Audiological Care, Consumer Hearing and Cochlear Implants – and the core brands Phonak, Unitron, AudioNova, Sennheiser (under license) and Advanced Bionics as well as recognized regional brands. The Group’s globally diversified sales and distribution channels serve an ever growing consumer base in more than 100 countries.
In the 2020/21 financial year, the Group generated sales of CHF 2.6 billion, with a net profit of CHF 585 million. Over 15,000 employees are working on achieving Sonova’s vision of a world where everyone enjoys the delight of hearing.
For more information please visit www.sonova.com .
Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH0012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.
End of ad hoc announcement
| Language: | English |
| Company: | Sonova Holding AG |
| Laubisrütistrasse 28 | |
| 8712 Stäfa | |
| Switzerland | |
| Phone: | +41 58 928 33 33 |
| E-mail: | [email protected] |
| Internet: | www.sonova.com |
| ISIN: | CH0012549785 |
| Valor: | 12549785 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1297623 |
| End of Announcement | EQS News Service |