Talk underwater?

From: Sydney Morning Herald - New South Wales,Australia - Mar 16, 2005

by Michael Evans

Hearing implant maker Cochlear has received US Food and Drug Administration marketing approval for its next generation System 4 device, pushing its shares 44c higher to $30.94.

While the approval was expected, it has come earlier than expected and Cochlear has revealed some new details of the new device, including a water-resistant speech processor.

The device, to be known as Nucleus Freedom, will begin shipping on April 3.

Goldman Sachs JBWere analysts welcomed the news, saying: "We believe the FDA approval highlights both Cochlear's and the FDA's confidence in the actual mechanical workings of the device. We believe this should enhance Cochlear's already strong reputation for having reliable devices."

Cochlear's two major competitors have been hit by product recalls in recent months, leading Cochlear to stress the reliability of its products over the competition.

Elsewhere, sleep disorder treatment maker ResMed was stronger after S&P revised its outlook to positive from stable.

Copyright © 2005. The Sydney Morning Herald.