Acquisition of Neurelec Brings New Capabilities in Cochlear Implants.
Copenhagen, DK April 9 – With this month’s acquisition of Neurelec SA by parent company William Demant Group, Oticon Medical enters a strategically important growth area for hearing implant technology. Neurelec is a pioneer in cochlear implant technology that benefits people with severe to profound hearing loss. Cochlear implant technology represents a natural next step for Oticon Medical, a company that in just three years has captured nearly a quarter of the world market in bone anchored hearing solutions for conductive or mixed hearing loss and single-sided deafness. The integration of Neurelec’s cochlear implant expertise with Oticon’s strengths in audiology, signal processing and wireless technology creates the potential for highly innovative products. These synergies, combined with the considerable reach of Oticon Medical’s international distribution network, will increase the ability to bring treatment and successful outcomes to more patients than ever before.
“Oticon Medical and Neurelec are a great strategic fit. Together, they enable us to bring more expertise, more experience and more patient-centered innovation to a healthcare arena with growing patient demand,” says Oticon Medical President Jes Olsen. “Cochlear implants and bone anchored hearing solutions address different patient groups, and the two product areas complement and extend each other perfectly. Our focus has consistently been on solutions for users that have the strongest needs and we can now offer our professional partners a broader range of implant hearing technology with exceptional sound quality, enhanced aesthetics, user friendliness and reliability.”
Jes Olsen
The acquisition of Neurelec provides a solid platform for continued growth that optimizes each company’s core competencies in their respective areas of implant hearing care. Neurelec, headquartered in Sophia Antipolis, France, has solid in-house R&D capabilities, state-of-the-art manufacturing facilities and a reputation for high quality cochlear implant technology. The two companies will work closely to develop synergies and the present Neurelec organization in France will be preserved.
Oticon Medical will use the company’s considerable distribution power to support growth and increase share in a market for cochlear implants that has shown annual growth of more than 10% in the past several years. The acquisition gives Neurelec access to valuable resources within the William Demant Group including capital investment in the development of enhanced implant hearing technology for severe hearing losses. As businesses within the William Demant Group, both companies will also benefit from Oticon’s established manufacturing and logistics infrastructure and 100-plus years of experience in audiology and sound processing and leadership in super power hearing solutions.
“The vision of Oticon Medical is to create life-long patient outcomes,” says Olsen. “Our starting point will always be patients’ everyday challenges and how we can provide innovative solutions that will enable them to realize their full potential and live life to the full. Our new capabilities in cochlear implants increase the potential to achieve that goal for more patients than ever before.”
Oticon Medical distributes the Ponto Bone Anchored Hearing System to a worldwide network of physicians, audiologists and specialty clinics. Neurelec’s cochlear implants are sold to hospitals primarily in France and a few select markets. The ambition is to expand the cochlear implant business internationally and make Neurelec a global player. In the short term, the companies will continue to operate in their current markets and will use a market-by-market approach to reach out to more end-users worldwide.
About Oticon Medical
Oticon Medical combines more than a century of experience in audiology and sound processing with decades of pioneering experience in hearing implant technology. As a business within the William Demant Group, Oticon Medical enjoys valuable resources including the power to invest in the further development of hearing implant systems and unique access to knowledge, resources and technology of leading hearing solution manufacturer Oticon.
Oticon Medical’s “People First” philosophy is a direct heritage from Oticon. Every product Oticon Medical creates – from sound processors and surgical components to fitting, counseling and support tools – is designed with user needs in mind. With a strong focus on creating lifelong patient outcomes, Oticon Medical’s starting point will always be the patient’s everyday challenges and how to overcome them. Oticon Medical aims to empower all users of hearing implant systems to realize their full potential and live life to the fullest. Visit www.oticonmedical.com or the Oticon Medical Expo Page on AudiologyOnline.
