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EPOS – Demant Group Introduction
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The world’s leading hearing care company – Denmark’s Demant Group
Demant is a world-leading hearing care and technology group that has been committed to care, wellness and innovation since 1904, covering all areas of hearing care. The group provides innovative technologies, solutions and know-how to help people improve their health and hearing. Demant is actively involved in everything from hearing care, hearing aids and hearing implants to diagnostic equipment and services and audio solutions. Headquartered in Denmark, the group operates globally with subsidiaries in more than 30 countries, employs approximately 16,500 people and provides solutions in 130 countries.
In 2020, the Demant Group had revenue of approximately DKK 14.469 billion (USD 2.364 billion) and operating profit (EBIT) of DKK 1.53 billion (USD 250 million). Currently, the William Demant Foundation holds a majority stake in Demant A/S, which is listed as a blue chip stock on Nasdaq Copenhagen (Nasdaq Copenhagen: WDH).
1. History of Demant
In 1904, Hans Demant founded the company, now known as Demant. The following year, he went to London to buy hearing aids for his hearing-impaired wife Camilla. Eventually, their son William Demant took over the company and in 1957 donated shares in the company to the William Demant Foundation – which is now Demant A/S's major shareholder.
Today, the Demant Group is a market leader in hearing care and operates in hearing aids, hearing implants, diagnostic devices and smart audio solutions.
1-1 Early 20th century (1940s)
Hans Demant purchased a hearing aid for his hearing-impaired wife after learning that the Danish-born Queen Alexandra of England wore a hearing aid at her 1902 coronation. He later won a contract with the American General Acoustic Company and sold his first hearing aid in Odense, Denmark.
In 1907, after Hans Demant and his family moved to Copenhagen, he successfully sold the first Acousticon church hearing aid system, which featured a dual microphone and four earpieces. As orders increased, Hans Demant became the exclusive distributor of Acousticon hearing aids in Scandinavia the following year.
In 1910, Hans Demant's son William Demant took over the company after his father's death and established the company with his mother Camilla. Realizing the business opportunities, William Demant began visiting churches in Denmark, and by 1920, Acousticon church hearing aid systems had been installed in many churches across the country.
In 1923, William Demant moved the company to the center of Copenhagen and began producing hearing aids. The new hearing aid name Acousticus becomes a registered trademark.
During World War II (1939-1945), William Demant was unable to import goods from the United States, Britain or France. He decided to produce components for Denmark's latest Acousticon instrument. He then created the first Danish-made licensed hearing aid, the Acousticus, which was a replica of the original Acousticon model.
1-2 20th century (50s-70s)
In 1946, William Demant formed a partnership with American hearing aid manufacturer Charles Lehman. Together they founded the American-Danish company Oticon, headquartered in Copenhagen.
1-3 20th century (80s-90s)
1995 was a year of major change:
In January, the group acquired Swiss-based hearing aid maker Bernafon, which is now an independent business unit of William Demant Group.
In May, William Demant Holdings was listed on the Copenhagen Stock Exchange.
In May 1997, parent company Oticon Holdings A/S changed its name to William Demant Holdings. At the same time, Phonic Ear was also acquired.
1-4 From the beginning of the 21st century to the present
In 2000, Interacoustics was acquired. Interacoustics manufactures audiometers and is currently an important part of the Demant Group's diagnostic instrument activity area.
In 2003, Sennheiser Communications A/S was a joint venture between Germany's Sennheiser Electronics GmbH and William Demant Holding A/S.
With the acquisition of Amplivox in 2008 and Grason Stadler in 2009, William Demant Holding's diagnostic instrument business activities consolidated its position as the world's largest supplier of diagnostic equipment.
In 2010, after acquiring Otix Global, the Demant Group acquired its third hearing aid brand, Sonic.
A major milestone came in 2013 with the group's acquisition of France's Neurelec, thereby entering the important hearing implant market.
In 2015, it acquired a majority stake in French retailer Audika, and the group launched its own implant, Neuro.
In 2018, Demant and Sennheiser KG announced the termination of their joint venture in the headphone field. Going forward, enterprise solutions and gaming headsets will become independent divisions under the Demant Group. In the same year, Demant and Philips announced a partnership in which Demant would bring Philips-branded hearing aid solutions to the market, adding a fourth hearing aid brand to the Demant Group.
2. Product introduction of Demant Group
Demant Group develops, manufactures and sells products and devices to help people with hearing loss connect and communicate with the world around them. The group focuses on four business activities: hearing devices, hearing implants, diagnostics and communications.
2-1 hearing aids
The development, manufacturing and wholesale of hearing aids are Demant's core business. The Group's hearing aid activities include four brands: Oticon, Bernafon, Sonic and Philips. In the high-end market segment, Demant has a relatively high market advantage. And, to enable end-users to hear sounds in public spaces such as churches, classrooms, theaters, etc., Demant Group’s Phonic Ear and Front Row companies provide sound and amplification solutions. In addition, Demant owns global hearing aid retailer Audika and several larger retail chains.
Oticon's goal is to provide state-of-the-art technology and hearing based on the needs and wishes of people with hearing impairments, and to offer the best range of hearing aids and fitting systems on the market. Oticon More™ is the world's first hearing aid with a deep neural network (DNN) embedded on the chip, enabling better speech understanding with less effort and greater memory capacity.
Since 1946, Bernafon has been developing and marketing solutions that help people with hearing impairments. Viron is Bernafon’s first True Environment Processing™ hearing aid. You can feel the natural and realistic sound of the environment, and it is easy to operate, allowing users to easily follow the conversation. Spend unforgettable time with friends even in noisy places.
As a U.S.-based manufacturer of hearing care solutions, Sonic envisions a world where everyone can enjoy sound that enriches their daily lives. Radiant™ is the first hearing aid built on the Extend platform, continuing the mission to make "everyday sound" better. Radiant™'s integrated intelligence proactively finds, filters and fine-tunes the sounds users want to hear. With personalization options, wireless connectivity and lithium-ion charging, Radiant™ allows users to make the most of every moment.
Demant is Philips' exclusive hearing aid brand recognized by the public. Philips HearLink hearing aids take connected hearing care to a new level. Philips HearLink hearing aids are durable and use breakthrough SoundMap technology to handle daily activities. And, HearLink hearing aids come in a variety of styles and colors to match the user's hair and skin tone.
2-2 Hearing health care
Demant Group's Hearing Care business area consists of Audika Group, a global retail company providing hearing care and hearing solutions to customers around the world. The Audika Group consists of several strong local brands such as Audika, HearingLife, Hidden Hearing and Acustica Medica. The Audika Group has more than 2,000 hearing care clinics in 22 countries around the world and is one of the world's leading groups in hearing care.
The Audika Group makes every effort to understand its users' hearing and lives, taking into account all nuances. Because it takes personalized solutions to deliver truly life-changing hearing care.
2-3 Hearing implants
By acquiring cochlear implant maker Neurelec in 2013 and changing its name to Oticon Medical in 2014, Demant created a powerful hearing implant company.
2-4 Diagnostic Services
Demant's diagnostics business "Diagnostics" is the global market leader in hearing and balance assessment solutions. The group includes six international companies (Maico, Amplivox, Grason-Stadler, Interacoustics, MedRx and Audioscan) with strong market positions in all product categories and coverage of every major customer segment in all key geographical regions. Their solutions include audiometers, tympanometry, balance systems, otoacoustic emission instruments, and other solutions used by audiologists and ENT specialists.
2-5 Communication technology
Demant launched EPOS in 2019: a company designing advanced messaging solutions and video collaboration solutions for enterprise, gaming and air traffic control. The ADAPT 200 Series makes it easy to connect and switch between multiple audio devices. This series is Microsoft Teams certified for optimal performance, making it the ideal companion for the office, mobile or remote work.
3. Summary
Demant is a world-leading group of hearing care companies covering all areas of hearing care, from diagnostic instruments and hearing devices to cochlear implants and bone-anchored hearing solutions. Demant's hearing care solutions and complete product range help people with all types of hearing loss connect with the world and live their lives to the fullest. In addition, business growth in smart audio solutions for gaming and office communications is also an important part of the group.
As the only company in the world covering all aspects of hearing care, Demant expects to gain significant synergies from this unique position. The synergy will help millions of people experience the joy of listening for many years to come. Just as William Demant envisioned when growing the company in the 20th century.
Data source: 2021-05-20 Siyu Medical Equipment Observation | Author: Dai Haiying, Editor-in-Chief | Zhao Qing here
