Oticon Medical Acquires Neurelec
With this month’s acquisition of Neurelec SA by parent company William Demant Group, Oticon Medical enters a strategically important growth area for hearing implant technology. Neurelec is a pioneer in cochlear implant technology that benefits people with severe to profound hearing loss.
Cochlear implant technology represents a natural next step for Oticon Medical, a company that in just three years has captured nearly a quarter of the world market in bone anchored hearing solutions for conductive or mixed hearing loss and single-sided deafness.
The integration of Neurelec’s cochlear implant expertise with Oticon’s strengths in audiology, signal processing and wireless technology creates the potential for highly innovative products. These synergies, combined with the considerable reach of Oticon Medical’s international distribution network, will increase the ability to bring treatment and successful outcomes to more patients than ever before.
“Oticon Medical and Neurelec are a great strategic fit. Together, they enable us to bring more expertise, more experience and more patient-centered innovation to a healthcare arena with growing patient demand,” said Oticon Medical President Jes Olsen. “Cochlear implants and bone anchored hearing solutions address different patient groups, and the two product areas complement and extend each other perfectly.”
The acquisition of Neurelec provides a solid platform for continued growth that optimizes each company’s core competencies in their respective areas of implant hearing care. Neurelec, headquartered in Sophia Antipolis, France, has solid in-house R&D capabilities, state-of-the-art manufacturing facilities and a reputation for high quality cochlear implant technology. The two companies will work closely to develop synergies and the present Neurelec organization in France will be preserved.
Oticon Medical will use the company’s considerable distribution power to support growth and increase share in a market for cochlear implants that has shown annual growth of more than 10% in the past several years. The acquisition gives Neurelec access to valuable resources within the William Demant Group including capital investment in the development of enhanced implant hearing technology for severe hearing losses.
“The vision of Oticon Medical is to create life-long patient outcomes,” said Olsen. “Our starting point will always be patients’ everyday challenges and how we can provide innovative solutions that will enable them to realize their full potential and live life to the full. Our new capabilities in cochlear implants increase the potential to achieve that goal for more patients than ever before.”
Oticon Medical distributes the Ponto Bone Anchored Hearing System to a worldwide network of physicians, audiologists and specialty clinics. Neurelec’s cochlear implants are sold to hospitals primarily in France and a few select markets.