Demant
{{Short description|Medical equipment production company}}
{{for|the surname|Demant (surname)}}
{{Infobox company
| name = Demant A/S
| logo = Demant pos.svg
| logo_size = 220px
| former_name = William Demant Holding A/S (1997–2019)
{{nowrap|Oticon Holding A/S (until 1997)}}
| type = Public (Aktieselskab)
| traded_as = {{OMX|CSE3247|DEMANT}}
| key_people = {{nowrap|Niels B. Christiansen (Chairman)}}
Søren Nielsen (President & CEO)
| industry = Health care
| products = Hearing aids, audiometric equipment
| revenue = {{increase}} DKK 13.189 billion (2017)
| operating_income = {{increase}} DKK 2.338 billion (2017)
| net_income = {{increase}} DKK 1.759 billion (2017)
| assets = {{increase}} DKK 16.222 billion (end 2017)
| equity = {{increase}} DKK 7.433 billion (end 2017)
| num_employees = {{increase}} 21,000+ (2023)
| owner = 55-60% is owned by William Demant Invest A/S (which is wholly owned by the William Demant Foundation)[https://www.demantinvest.com/ Overview], William Demant Invest.
| parent = William Demant Invest A/S[https://www.demantinvest.com/investments Investments], William Demant Invest.
| foundation = {{start date and age|1904}}
| founder = Hans Demant
| location = Smørum, Denmark
| homepage = {{URL|https://www.demant.com/}}
}}
Demant A/S is a Danish multinational company involved with hearing care, hearing aids, audiometric equipment and personal communication devices.
History
{{Refimprove section|date=January 2018}}
The business was founded in 1904 by Hans Demant, under the name Oticon. After his death in 1910, his son William Demant took over.{{Cite web |date=2017-07-25 |title=History |url=https://www.demant.com/about/history |access-date=2022-10-07 |archive-date=2017-07-25 |archive-url=https://web.archive.org/web/20170725235744/https://www.demant.com/about/history |url-status=bot: unknown }}
Already before World War I, Oticon increased its sales volume to cover Scandinavia and Saint Petersburg. In the twenties and thirties, a network of agents was established in Europe.
During World War II, Oticon started its own production due to the scarcity of goods from other countries.
In 1957, William and his wife Ida Emilie donated the Demant family's shares in the company to the Oticon Foundation, which is now called the William Demant Foundation.{{cite web|access-date=18 May 2017|date=2004|title=The Top Management Group That Got Fired – by Itself|url=http://orgcon.ecomerc.com/files/download/student/Oticon.pdf|website=orgcon.ecomerc.com/}} The Foundation's general aim is charity, with particular emphasis on helping people with a hearing impairment, and the Foundation is the main shareholder in the company, with a stake of app. 61%.{{Cite web |date=2017-07-25 |title=History |url=https://www.demant.com/about/history |access-date=2022-10-07 |archive-date=2017-07-25 |archive-url=https://web.archive.org/web/20170725235744/https://www.demant.com/about/history |url-status=bot: unknown }}
During the 1990s, the company expanded further, buying the Swiss hearing aid manufacturer Bernafon, Phonic Ear, the headset manufacturer DanaCom and Interacoustics.
In 1995, the company was listed on the Copenhagen Stock Exchange. In 1997, it was decided to change the name of the company from Oticon Holding A/S to William Demant Holding A/S, because it was considered disadvantageous to use the same name for both the corporate group and for one of its businesses. In 2019, the company changed its name to Demant A/S.
In February 2017, it was announced that then-President and CEO Niels Jacobsen would step down after 25 years in charge of the company. Instead, he would become CEO of William Demant Invest A/S. {{As of|2017|04|01|since=yes}}, the company has been led by President and CEO Søren Nielsen and by board chairman Niels B. Christiansen.{{Cite web |last=Simonsen |first=Peter |date=2019-02-19 |title=William Demant-aktien falder brat |url=https://finans.dk/investor/ECE11199814/william-demantaktien-falder-brat/ |access-date=2023-02-28 |website=Finans |language=da}}
Demant is headquartered in Smørum (northwest of Copenhagen) and had sales of DKK 13.9 billion in 2018.
In April 2022, Demant announced it had agreed to sell Oticon Medical to Australian company Cochlear Limited for DKK850 million and would exit the hearing implant business.{{Cite web |last=Ogg |first=Matt |date=2022-04-27 |title=Cochlear to acquire loss-making Oticon Medical for $170 million |url=https://www.businessnewsaustralia.com/articles/cochlear-to-acquire-loss-making-oticon-medical-for--170-million.html |access-date=2022-05-06 |website=Business News Australia |archive-date=2022-05-17 |archive-url=https://web.archive.org/web/20220517151852/https://www.businessnewsaustralia.com/articles/cochlear-to-acquire-loss-making-oticon-medical-for--170-million.html |url-status=dead }}
In June 2022, Demant acquired Chinese retailer ShengWang at a cost of RMB 1.8 billion.{{cite web |title=Demant Announces Full Acquisition of ShengWang |url=https://hearingreview.com/inside-hearing/industry-news/demant-announces-full-acquisition-shengwang |website=The Hearing Review |date=14 June 2022}}
In November 2022, Demant acquired Japanese retailer MTHA.
Business units
The company focuses on these business units:
{{anchor|Neurelec}}
; Hearing aids
: Oticon, Bernafon, Sonic Innovations, Neurelec (cochlear implants, being divested) and Oticon Medical (bone anchored hearing aids) sold to Australian company Cochlear Limited for DKK850 million.{{Cite web |last=Ogg |first=Matt |date=2022-04-27 |title=Cochlear to acquire loss-making Oticon Medical for $170 million |url=https://www.businessnewsaustralia.com/articles/cochlear-to-acquire-loss-making-oticon-medical-for--170-million.html |access-date=2022-05-06 |website=Business News Australia |archive-date=2022-05-17 |archive-url=https://web.archive.org/web/20220517151852/https://www.businessnewsaustralia.com/articles/cochlear-to-acquire-loss-making-oticon-medical-for--170-million.html |url-status=dead }}
; Audiologist / Hearing aid sales
: Audika (Australia, Germany, Denmark, France, Hungary, Italy, New Zealand, Poland, Spain, Sweden, Switzerland)
: Telex (Brazil)
: HearingLife (Canada, United States)
: SWTL (China)
: Acoustica Medica (Greece, Portugal)
: Hidden Hearing (Ireland, United Kingdom)
: MTHA (Japan)
: Hearing Partners (Malaysia, Singapore)
: Van Boxtel (Luxembourg)
: Idis (Turkey)
: Medton-Hedim (Israel)
; Diagnostic instruments
: [https://www.maico-diagnostics.com/ Maico Diagnostics], [https://www.interacoustics.com/ Interacoustics], [https://www.amplivox.com/ Amplivox], [https://www.grason-stadler.com/ Grason-Stadler], [http://www.medrx-usa.com MedRx, Inc.],{{cite web |url=http://www.demant.com/about/business-activities|title=Business Activities|publisher=William Demant |accessdate=18 May 2017 |archiveurl=https://web.archive.org/web/20170508200243/http://www.demant.com/about/business-activities |archivedate=8 May 2017|url-status=dead}} [https://www.audioscan.com/en/ AudioScan] and [https://www.inventis.it/world Inventis].
; Personal communication
: Phonic Ear, Sennheiser Communications (defunct), [https://www.eposaudio.com/en/us/company EPOS]
; Instrument dealers
: Gordon Stowe & Associates Inc., Northeastern Technologies Group Inc., Midlantic Technologies Group Inc.
References
{{Reflist}}
External links
- {{official website|https://www.demant.com}}
{{OMX Copenhagen 20 companies}}
{{authority control}}
Category:Health care companies of Denmark
Category:Electronics companies of Denmark
Category:Otorhinolaryngology organizations
Category:Companies listed on Nasdaq Copenhagen
Category:Companies in the OMX Copenhagen 25
Category:Danish companies established in 1904
Category:Companies based in Egedal Municipality
Category:Technology companies based in Copenhagen