- Published on 04 April 2013
On the 2nd of April, Danish holding company William Demant announced that it has purchased 100% of the shares in French firm Neurelec SA. The total cost of the acquisition was 57.5 million euros.With this acquisition, the holding company, which also owns the Oticon, Oticon Medical, Bernafon and Sonic Innovations brands amongst others, reiterates its aim of expanding its product portfolio and entering a market with significant potential. Neurelec additionally holds a complete portfolio of cochlear implants.
“This market is characterised by significant, long-term growth potential. This purchase is the natural continuation of our successful stake in bone anchored hearing solutions, an area in which we have, within only a few years, captured around a quarter of the world market”, explains the press release.
French company Neurelec specialises in the development of implantable hearing solutions, including cochlear implants, to compensate for severe to total bilateral sensorineural hearing loss. Founded in 2006 as a spin-off from its holding company MXM, in 1992, Neurelec was the first in the world to launch a fully digital cochlear implant system.
Thanks to this acquisition, Neurelec will benefit from the William Demant group’s technical competencies, but also its robust distribution network, which will enable it to accelerate its expansion.
William Demant will also benefit from significant expertise in the field of hearing aids, bone anchored implants and cochlear implants. “With the takeover of Neurelec, the William Demant group will acquire a strategically important business activity and will thus become the only company in the world that covers all categories of products aimed at the deaf and the hearing impaired,” explains Niels Jacobsen, President & CEO of William Demant. “And as the group has now also become the world’s largest and leading supplier of diagnostic instruments, William Demant is now in a unique position when it comes to alleviating hearing loss of every kind.”
Source: William Demant