Two of the world’s largest hearing aid makers, based a few miles apart from each other in Denmark, are waging a potentially epic worldwide legal struggle over patent issues that may be critical to both their futures — and to the future of “Made-for-iPhone” hearing aids. GN Store Nord, whose GN ReSound hearing aid unit introduced the first iPhone-compatible hearing aids, this week lost a battle with arch-rival Oticon but insists it should ultimately win the war. [Read more…]
The William Demant Group, parent of Oticon hearing aids and other brands, reported 11 percent revenue growth in the first half of 2015 compared to the first half of the previous year, driven by strong performance of its new sound processing platform, especially in the U.S. [Read more…]
With continued revenue growth in its fiscal second quarter, GN Store Nord, parent of the GN ReSound Group of hearing technology brands, is powering through challenges including a costly case of fraud in a U.S. hearing aid subsidiary and contraction of business in its non-hearing-aid headset subsidiary.
The Denmark holding company reported overall growth of four percent, driven by eight percent organic growth in its GN ReSound Group hearing technologies unit, which includes ReSound, Beltone and Interton hearing aids as well as GN Otometrics, a supplier of audiology equipment. The company pointed to the successful launch of ReSound’s second-generation of Made-for-iPhone Linx2 hearing aids as a high point of the quarter, which saw revenue grow to DKK 2,035 million ($303 million USD). [Read more…]
With the conclusion of its multi-billion-dollar acquisition of Siemens AG’s audiology business Thursday, a private investment group led by EQT Partners announced a new name for the company — Sivantos Group — along with an ambitious agenda to quickly make its presence felt as one of the world’s largest independent hearing aid manufacturers.
Siemens Hearing Instruments for decades had been among the “Big Six” manufacturers that account for more than 80 percent of the world’s hearing aid sales. But it’s been five years since the parent conglomerate announced it wanted to spin off its hearing aid business, and the tortuous, stop-and-go process that finally led to yesterday’s announcement left many industry observers scratching their heads: [Read more…]