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Resound /3M complete sale

Gary Gams Higgins at DEDOT.COM
Fri Jul 5 00:18:55 EST 1996


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 
stock...

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



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