Demant A/S intends to divest its Hearing Implants business
12 maggio 2022 – Following a strategic review, Demant A/S has decided to discontinue its Hearing Implant business area and announced the intention to sell Oticon Medical to Cochlear Limited, a market leader in implantable hearing. In the review of options for the future, it was of utmost importance to find a professional counterpart, who would commit to ensuring the best lifelong support of existing customers and patients. Cochlear has committed to provide ongoing support for the entire patient base, which include cochlear implants (CI) and bone anchored hearing systems (BAHS). The total consideration is DKK 850 million.
Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close in H2 2022, following consultation of relevant workers’ councils.
Walder Wyss AG acted as Swiss counsel to Demant A/S and its lead counsel Please. The team comprised by Urs P. Gnos (Partner, Corporate/M&A) and Christian Hagen (Managing Associate, Corporate/M&A).