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December 19, 2006

Cochlear buys key supplier for $19m

From: The Age - Melbourne,Victoria,Australia - Dec 19, 2006

Ear implant maker Cochlear Ltd has acquired parts of one of its suppliers, Crystalaid Manufacture Pty Ltd, for about $19 million.

Crystalaid is a key manufacturer and supplier of certain parts and accessories of the cochlear implant system.

The acquisition, which will be marginally accretive in fiscal 2007 and see Cochlear take on all Crystalaid's 200 staff, secures Cochlear's supply of external parts for its speech processors.

The acquisition is part of the Cochlear's supply chain redesign.

Cochlear says it is acquiring only those activities of Crystalaid relevant to the production of components used by Cochlear.

© 2006. The Age Company Ltd.