Hearing implant manufacturer Cochlear Limited (ASX: COH) announced that it has teamed up with global electronics giant Apple Inc. today so that hearing implant patients can stream sound from their iPhones or iPads directly to their sound processors.
The feature is available for patients using Cochlear's latest Nucleus 7 Sound Processor, which according to the company is also the "smallest and lightest behind-the-ear cochlear implant sound processor available on the market".
It's Cochlear's market-leading technology and partnerships with companies like Apple that provide it a competitive advantage that helps provide pricing power as patients (public or private) understandably always want the best products whatever the costs.
The complex audiology and network effect also provides what is known in investing as a moat, whereby it is hard for potential competitors to take market share from a leader in a regulated and complex healthcare market.
Cochlear is also now growing its recurring services revenue at strong rates, which is beneficial to investors as it means it is less reliant on the hard task of selling more and more implants every year to grow revenues.
Cochlear shares are up 130% over the past five years, with the company due to report its full year results within the next four weeks.
