William Demant to bring Philips brand to hearing aid market
Partnership
William Demant has signed a licensing agreement with Philips, that will enable the Danish manufacturer and retailer to bring Philips-branded hearing solutions to the global market. The Philips brand will join Oticon, Bernafon, Sonic in the portfolio of hearing instrument brands offered by William Demant.
The Company believe the global brand presence of Philips, combined with the Demant technology will provide unique opportunities for hearing care professionals.
Søren Nielsen, President & CEO of William Demant, said of the agreement, “I am happy and proud to partner with Philips – one of the world’s best known and highly trusted healthcare brands. We clearly see a great match between William Demant’s technological know-how and Philips’ broader healthcare offering. By partnering with Philips, we get a unique opportunity to take connected hearing healthcare to the next level and offer new and exciting solutions within integrated healthcare services to the benefit of both professionals and people living with hearing loss.”
Andrew Mintz, SVP, Head of Global Brand Licensing at Philips added, “We are excited to partner with William Demant, as they bring audiological leadership and innovative hearing technology to the market. Together, we will be able to help improve the lives of even more people living with hearing loss and deliver on our shared vision of creating a healthier world through innovation.”
“The Philips brand is not new to hearing instruments. Historically, Philips Hearing Instruments (PHI) was once the 4th largest brand in hearing care, but by 1997 had dropped to 10th and the company was subsequently sold to Beltone in 2000.
Further details on the cooperation between William Demant and Philips will be communicated at a later stage. In the meantime, the half year results for WDH (William Demant Holdings) show their hearing aid wholesale sector deliver 11% growth and revenue increase by 9% to DKK 6,777 million. Hearing Implants also grew by 9% and diagnostic instruments by 11%. Soren Nielsen said, “I’m very pleased with the overall result.”
Source: William Demant
