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February 21, 2007
By: Ed Kensik
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Salt Lake City, UT-based Sonic Innovations has sold its money-losing auditory testing equipment unit, Tympany, to privately held Tympany Holdings LLC. Terms of the sale were not disclosed. Sonic, a digital hearing-aid manufacturer, said it expects to recognize a small gain on the sale. Tympany, which was bought by Sonic in December 2004, had losses of $2.2 million in 2006 and $12.7 million in 2005. Earlier this month, Sonic announced that the loss-making division was available for sale.
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