Hearing device manufacturer Cochlear (ASX:COH) has signed a new agreement with audio solutions company, GN.
The agreement will significantly expand the current collaboration between the companies, the Smart Hearing Alliance.
The Alliance was developed in 2015 to develop the most integrated, best in class hearing solutions – giving hearing aid and cochlear implant recipients access to the latest in connectivity and wireless technology.
The expansion of the relationship includes joint R&D and shared technology.
The companies are now focused on their integrated product offering and expanding their presence in the clinical hearing aid and implantable hearing solutions market globally.
The announcement comes on the back of new news earlier this week that Cochlear will appeal a US$268 million district court fine following a patent infringement lawsuit.
Shares in Cochlear (ASX:COH) shares closed 1.01 per cent higher to $173.02.