Westone Laboratories, Inc. announces the sale of Westone Audio, LLC to Lucid Audio, LLC
COLORADO SPRINGS, CO – June 19, 2020 – Westone Laboratories (“Westone”), a Fund III portfolio company of HealthEdge Investment Partners, LLC (“HealthEdge”), announced the sale of its music division, Westone Audio, to Lucid Audio. Westone Audio pioneered the custom in-ear monitor market in the 1980’s. The brand is synonymous with a premium audio experience, making its custom and universal earphone solutions a must own product for musicians, audiophiles, and music lovers worldwide. The sale of Westone Audio will allow Westone Laboratories to further focus on its core hearing healthcare and hearing protection business.
“Throughout this process we were looking for a strategic partner with a significant presence in the music and consumer audio markets. We found that partner in Lucid Audio”, said Earl DeCarli, Interim CEO and Board Chairman, Westone Laboratories. “We are confident Lucid Audio will be an outstanding steward of the Westone Audio legacy and continue to provide category leading products and best in class support to the brand’s loyal customers around the globe.”
“As healthcare investors, it has always been our goal to move the Westone Audio brand into the hands of a company with a focus on music products, so that we could focus on Westone’s core mission of providing best in class hearing healthcare and hearing protection products to our clinical and corporate customers. We are pleased to pass the torch to Lucid Audio, which already focuses on music through its Etymotic Research brand and will continue to develop and build Westone Audio into the future,” said Matt Dawson, Principal at HealthEdge Partners.
ABOUT WESTONE LABORATORIES
Established in 1959, Westone Laboratories has celebrated over 60 years of delivering custom earpieces that protect and enhance hearing, facilitate communication, and support hearing healthcare professionals. The largest manufacturer of custom earpieces serving the hearing health community, Westone is recognized as a leading innovator across the custom earpiece and hearing protection markets. Westone is a proud partner of the United States Military providing specially designed communication-enabled and hearing protection earpieces for service members and first-responders around the world. It is our people, our experience, and our products that truly make Westone “The In-Ear Experts®." For more information, visit Westone.com.
ABOUT LUCID AUDIO
Based in Fort Worth, Texas, Lucid Audio® is passionately focused on our goal of helping more people hear better at all ages and stages. We want you to hear your music better, your TV better, your loved ones and the world around you better. In 2018, we acquired Etymotic Research®, and now have a combined foundation of over 75 years of acoustic research and cutting-edge hearing device development, engineered in the USA by our team of experts. Innovation, education and hearing conservation are central to our mission. Audiophile respected, Audiologist tested, and applauded by customers of every age, with Lucid Audio products, you will always Hear Better. More information on the company’s products can be found at www.lucidaudio.com.
ABOUT HEALTHEDGE INVESTMENT PARTNERS
HealthEdge Investment Partners, LLC is an operation-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com, or contact Phil Dingle at HealthEdge Investment Partners, at (813) 490-7101.
Westone® is a registered trademark of Westone Laboratories, Inc. Lucid Audio® and Westone Audio™ are trademarks of Lucid Audio LLC.