LTM Lands $100 Mn Deal With European Medtech to Support Hearing Devices

LTM has bagged a multi-year, $100-million strategic deal with an undisclosed Europe-based medtech company, described as a leading provider of innovative hearing solutions, to deliver product development and support across its flagship offerings.

The seven-year engagement marks the first major deal following LTM’s recent rebranding, the company confirmed to AIM. However, it added that “it doesn't have anything to do with the rebranding initiative.”

Under the agreement, LTM will leverage iNXT, its cross-industry digital transformation and innovation platform, to help the client manage the convergence of physical and digital technologies.

As part of the mandate, LTM will develop and support the medtech company’s primary hearing instrument brands as well as its private labels.

The scope includes its core wearable hearing devices, the fitting application used by hearing care professionals to configure hearing aids, and the mobile application that enables end users to control their devices.

In addition to technology development and support, LTM will also lead and navigate complex medtech compliance and regulatory frameworks for the client.

On February 11, the company unveiled its new brand identity and positioning as a business creativity partner. It said the initiative reflects LTM’s technology capabilities and deep domain expertise.

“As the business creativity partner, we are creating new ways of working, new productivity paradigms, and new roads to value. Our intent is simple: to help our clients not just outperform the market, but to Outcreate it,” said Venugopal Lambu, Chief Executive Officer and Managing Director, LTM.