Audeara Limited announced further success in global expansion plans. The Company has strengthened its commercial relationship with Amplifon. The Companies have negotiated for Audeara products to be available across al Amplifon owned audiology clinics global y. Amplifon is a global leader in hearing care, with 11% global market share and over 9,200 points of sale across 25 countries. Under the terms of the negotiations, Amplifon will purchase a minimum quantity of 5,000 Audeara A-02 TV bundles during the second half of calendar year 2022 across their global network. Each teritory will determine the timing and quantity of purchase that best meets their requirements.
Audeara may need to provide localisation of product packaging and meet other compliance requirements for entry into particular markets. Audeara will assist Amplifon with marketing initiatives. There is an indefinite term to the relationship. Entry into each market will be coordinated between Audeara and Amplifon to ensure optimal uptake throughout the network. At this early stage, due to the uncertainty of timing and market uptake, it is not possible to quantify the final economic impact of this agreement.