MINNEAPOLIS--(BUSINESS WIRE)--TripleTree, LLC, a strategic advisor and merchant bank serving innovative and market-leading companies in healthcare, is pleased to announce that its client, TruHearing, a hearing healthcare benefits solution provider, plans to enter into a strategic partnership with Sivantos USA, an audiology technology leader. The transaction is subject to customary regulatory approvals and the financial details will remain confidential. The move comes at a transformative time in the hearing industry as hearing loss continues to affect more people at younger ages and as an increasing number of commercial and Medicare Advantage health plans look to offer hearing benefit solutions to drive member satisfaction, increase differentiation and contain costs.
The combined company will have a greater capability to offer high-value hearing benefit solutions to health plans and their members while improving access to a leading network of hearing care providers. Within Sivantos, TruHearing will remain an independent business managed from its existing Salt Lake City headquarters.
“By collaborating with leading health plans across the U.S., TruHearing has created a powerful platform that improves the affordability and access to hearing healthcare,” said Jason Grais, Managing Director at TripleTree. “Sivantos and TruHearing share a common vision and their combined capabilities will further improve and differentiate TruHearing’s hearing benefits management platform.”
“Our partnership with Sivantos will continue to develop and deliver the best hearing healthcare solutions for our health plan partners and their members,” said Tommy Macdonald, CEO of TruHearing. “Partnering with TripleTree allowed us to evaluate a variety of strategic options for our company and we are thrilled with the outcome. TripleTree’s ability to run a highly efficient process and articulate our value proposition allowed us to identify the right long-term partner with which we can continue re-shaping and innovating in the hearing health industry.”
TripleTree acted as the exclusive financial advisor to TruHearing for this transaction.
TripleTree is an independent merchant bank focused on mergers and acquisitions, growth capital, recapitalizations, strategic advisory and principal investing. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit Triple-Tree.com.
TruHearing's mission is to make hearing aids more accessible to those with hearing loss. Working directly with the top hearing aid manufacturers, respected and well-known health plans, and a nationwide network of over 5,000 hearing care provider locations, TruHearing's hearing benefit management and discount programs are available to members of select health plans. For more information, visit TruHearing.com.