Boston, MA 02/11/2013 (wallstreetpr) –Maker of hearing implants Cochlear Ltd. (ASX:COH), based in Australia says emerging markets like China represent lucrative business opportunities. The 31 year old company was launched to develop the Graeme Clark’s idea of the bionic ear. Hearing implants stimulate audio-nerves in the inner ear which improves sound reception.
About thirty thousand newborns in the China have profound hearing problems, the company’s CEO Chris Roberts told an Australian TV Channel.
Roberts, views China is “a huge opportunity in general”. Economic growth of the communist nation spreads out evenly throughout the growing middle class and rising income levels trigger demand for “good health care”, in that segment of the nation, he said. This makes China a “huge potential market”, for the hearing implants and other hearing aids, he added.
However the company is not a just a China-story, he said. According to a regulatory filing submitted last week, its revenues in the Asia-Pacific region hiked 33% in the half year ended December, 2012.
Cochlear Ltd. (ASX:COH) turned profitable in the last six months of the fiscal year 2012. During that period, it earned A$78 million as compared to a A$20 million loss for the last year. Swiss hearing aid seller, Sonova Holding AG (PINK:SONVY) earned a profit in the first six months of the year as the cochlear implant unit turned profitable.
Cochlear Ltd. (ASX:COH)’s market capitalization thinned down to A$4 billion ($4.1 billion) in response to declining share prices. Its stocks fell by about 12% during this year. Australia’s S&P/ASX 200 Index, advanced 6.9%.
The Cochlear Ltd.(ASX:COH) shares were up 1.54% to close at A$70. Shares of Sonova Holding AG(PINK:SONVY) were up 0.42% to close at $24.17.
For consideration of being featured on WallstreetPR, contact: Editor@Wallstreetpr.com