Swiss hearing aid maker Sonova Holdings AG (SOON.VX) will maintain sufficient financial flexibility to pursue further growth initiatives after announcing plans to buy U.S.-based cochlear implant systems maker Advanced Bionics Corporation, Chief Executive Valentin Chapero said Monday.

Earlier Monday, Sonova said it plans to buy the U.S.-based cochlear implant systems maker for $489 million, which was widely welcomed by the market.

The deal, which costs Sonova a total of 510 million Swiss francs ($505.9 million), is subject to regulatory approval.

Sonova will report first half figures for its 2010 fiscal year on Tuesday.

Company Web Site: http://www.sonova.com

-By Julia Mengewein, Dow Jones Newswires; +41 43 443 80 45; julia.mengewein@dowjones.com
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