As the population in the United States, and the rest of the world ages, Amplifon SpA wants to be at the forefront of global marketing, selling hearing aids. North America and the United States make up 40% of global hearing aid sales, which roughly translates to about $17 billion dollars in sales.
Vita said, "with favorable demographics and scope for consolidation, the US could be the best bet for future moves." They are noticing a rise in baby boomers investigating their products and making sales with them globally. The Milan, Italy-based company has invested $1.6 billion in acquisitions and plans on continually investing $100 million annually to make more acquisitions happen.
An acquisition in China helped generate 10% more sales. Since Milan native, Enrico Vita has taken over as Chief Financial Officer, Amplifon has acquired Spain's GAES group and helped boost the global market by 11%. Since then they have reported having earned €500 million, which was above analysts' estimates.
Source: Bloomberg