WS Audiology
{{Short description|Manufacturer of hearing aids}}
{{Primary sources|date=January 2018}}
{{Use dmy dates|date=October 2021}}
{{Infobox company
| name = WS Audiology
| logo =
| type = Private company
| foundation = 2019
| key_people = Jan Makela, CEO
(since July 2024)
| revenue = {{Increase}} €2.63 billion (fiscal year 2023-24){{Cite web |date=1 January 2023 |title=Annual Report 2023
| url=https://cdn.wsa.com/-/media/images/wsa/2023/wsa_ar-2022-23_final_web.pdf?rev=9217446608a74f6a967e2ae6d6d9259b
|access-date=20 December 2023 |website=WSA.com}}
| num_employees = {{Increase}} ~12,600
| location = Lynge, Denmark; Singapore[https://www.audiology-worldnews.com/market2/3426-sivantos-and-widex-merge-to-become-ws-audiology "Sivantos and Widex merge to become WS Audiology ,"] Audiology Worldnews, 6 March 2019.
| industry = Hearing instruments
| homepage = {{Official URL}}
}}
WS Audiology (formerly Sivantos Group and Widex) is a privately-owned manufacturer of hearing aids with headquarters in Denmark and Singapore with roots going back to 1878 and Siemens AG. The current company was created following the 2019 merger of Sivantos Group and Widex.{{Cite news |date=14 February 2019 |title=Widex, Sivantos win EU approval for $8.3 billion hearing aid merger |publisher=Reuters |url=https://www.reuters.com/article/us-sivantos-m-a-widex/widex-sivantos-win-eu-approval-for-8-3-billion-hearing-aid-merger-idUSKCN1Q30Z4 |access-date=16 April 2021}} Prior to that, Sivantos was spun off from Siemens after Siemens AG sold the company to EQT and Santo Holding in 2015.{{Cite web |title=Sivantos |url=http://eqtpartners.com/Investments/Current-Portfolio/Sivantos/ |archive-url=https://web.archive.org/web/20181115180857/http://eqtpartners.com/Investments/Current-Portfolio/Sivantos/ |archive-date=15 November 2018 |website=EQT AB |department=Current portfolio}}{{Cite web |title=History |url=https://www.sivantos.com/en/about-us/history/ |url-status=dead |archive-url=https://web.archive.org/web/20160709041331/https://www.sivantos.com/en/about-us/history/ |archive-date=9 July 2016 |access-date=8 June 2016 |website=Sivantos Group}} WS Audiology employs about 12,600 people in more than 125 countries. In fiscal year 2023-2024, the company generated revenue of €2.63 billion and adjusted EBITDA of €542 million.
The company develops, manufactures, sells and distributes hearing aids under the following brands: A&M, audibene, Audio Service, Bloom, Coselgi, hear.com, HearUSA, Lifestyle Hearing Network, Rexton, Signia, Shoebox, TruHearing, Widex and Widex Hearing Specialists.{{Cite web |title=Brands |url=https://www.wsa.com/en/about-us/brands/ |website=WS Audiology}}
History
In 1878, Werner von Siemens built a telephone with a horseshoe magnet, which amplified, and improved voice signal quality.{{Cite web |title=History |url=https://www.wsa.com/en/about-us/history/ |access-date=25 April 2021 |website=WSA.com}} In 1913, Siemens introduced the first industrially-produced hearing instrument, the Esha-Phonophor.{{Cite news |last=Bray |first=Chad |date=6 November 2014 |title=Siemens to Sell Its Hearing Aid Unit for About $2.69 Billion |work=The New York Times |url=https://dealbook.nytimes.com/2014/11/06/siemens-to-sell-its-hearing-aid-unit-to-eqt/ |access-date=26 April 2021}}
During the 1950s, Christian Tøpholm and Erik Westermann formed Widex and began developing hearing devices in Tøpholm's converted cellar. In 1956, the company produced its first model, the Widex 561.{{Cite news |last=Glass |first=Nick |date=9 November 2012 |title=Pitch perfect: The quest to create the world's smallest hearing aid |publisher=CNN |url=https://www.cnn.com/2012/11/09/tech/hearing-aid-widex-3d-printing/index.html |access-date=17 May 2021}} In 1959 Siemens developed the Auriculette, a behind-the-ear (BTE) device with small lightweight components that fit together in a single unit. In 1966, they developed their first device worn entirely in-the-ear (ITE), the Siretta 339.
In 1988, Widex produced the first digitally-programmable hearing aid with a remote control, the Quattro Q8. In 1995, Widex created Senso, the first fully digital unit that fits completely in the ear.{{Cite news |last=Alexander |first=Howard |date=26 November 1998 |title=Hearing Aids: Smaller and Smarter |work=The New York Times |url=https://www.nytimes.com/1998/11/26/technology/hearing-aids-smaller-and-smarter.html |access-date=26 April 2021}} In 2004, the company created the world's first hearing aid in which right and left devices were synchronized and in 2008, the world's smallest receiver-in-canal hearing aid.
In 2015, Swedish private equity firm EQT bought Siemens Audiology Solutions for more than 2 billion euros and renamed the company Sivantos.{{Cite web |date=16 January 2015 |title=Siemens Audiology's New Name Is Sivantos; Purchase Finalized |url=https://www.hearingreview.com/practice-building/practice-management/continuing-education/blog-siemens-new-name-will-sivantos |access-date=17 May 2021 |website=The Hearing Review}}
Sivantos Group joined the UN Global Compact Initiative in 2017 and began to streamline its social activities and CSR policy. The company's first Communication on Progress, the annual report to the office of the UN Secretary General, was published on 24 May 2018.{{Cite news |title=CSR - This is how Sivantos Group gives back |language=en-US |work=Sivantos |url=https://www.sivantos.com/societal-impact/ |access-date=9 July 2018}}
In 2018, Widex and Sivantos announced an $8B merger, creating the 3rd largest hearing conglomerate in the world.{{Cite news |last=Jacobsen |first=Stine |date=15 May 2018 |title=Sivantos and Widex in $8 billion merger to create No.3 in hearing aids |work=Reuters |url=https://www.reuters.com/article/us-sivantos-m-a-widex/sivantos-and-widex-in-8-billion-merger-to-create-no3-in-hearing-aids-idUSKCN1IH0KL |access-date=19 June 2018}} The combined company changed its name to WS Audiology in 2019.{{Cite web |title=WS Audiology |url=https://www.eqtgroup.com/Investments/Current-Portfolio/wsaudiology/ |access-date=17 November 2020 |website=EQT AB |department=Current portfolio}}
Management
WS Audiology is led by CEO Jan Makela, who took over from CEO Eric Bernard in July 2024.[https://www.wsa.com/press-release/jan-makela-to-succeed-eric-bernard-as-ws-audiology-president-and-ceo/ Jan Makela to succeed Eric Bernard as WS Audiology President and CEO]
Brands
=hear.com / audibene=
hear.com and its European brand audibene provide online hearing care through a network of 5,000 independent partner audiologists and 1,000 hearing care experts. The company was founded in 2012 by Dr. Marco Vietor and Paul Crusius.{{Cite web |date=11 September 2020 |title=How two entrepreneurs are revolutionizing hearing care with smart technology |url=https://www.businessinsider.com/sc/how-smart-technology-in-hearing-aids-can-treat-hearing-loss-2020-9 |access-date=26 April 2021 |website=Business Insider}} In 2015, the company and Sivantos Group entered into a strategic partnership and investment agreement. The agreement defined that Dr. Marco Vietor and Paul Crusius will become part of the Sivantos management and continue to lead to hear.com (in Europe audibene) business, as well as support the company in its further international expansion efforts.{{Citation needed|date=April 2021}} In 2019, the company generated $150 million in revenue.{{Cite web |last=Engert |first=Bettina |date=3 December 2020 |title=Listen up! How a Startup From Berlin Revolutionized Hearing Worldwide |url=https://medium.com/actoncapital/listen-up-how-a-startup-from-berlin-revolutionized-hearing-worldwide-7cdfb6041fe |access-date=26 April 2021 |website=Acton}} In 2020, the company was reorganized as hear.com NV, however keeping the brand audibene in Europe.{{Citation needed|date=April 2021}}
References
{{Reflist}}
External links
- {{Official website}}
{{Authority control}}
Category:Hearing aid manufacturers
Category:Health care companies established in 1878
Category:Medical technology companies of Denmark
Category:Manufacturing companies of Denmark
Category:Medical technology companies of Singapore