July 1...Resound announces completion of the purchase of 3M's worldwide
hearing health system...Cash purchase price was $24.9 million...3M also
agrees to drop it's patent infringement suit against Resound...The
purchase was financed by the private sale of 3,212,176 shares of common
3M hearing health in the U.S. will be renamed Sonar hearing health corp.
and operate in Egan MN as a separate business unit employing most of the
former 3M employees...The new GM will be Ralph Fravel...Outside the U.S.
3M will be merged with Resound...
I've taken the liberty of rewriting this news release and only
highlighted the key points for your info...I'm sure this release is
available in it's entirety from Resound...GG