Demant
Demant A/S is a Danish international company involved with hearing care, hearing aids and audiometric equipment. It is headquartered in Smørum (northwest of Copenhagen) and had a revenue of kr. 22,400,000,000 in 2024.[3] History
Hans Demant buys his first hearing aid to his hearing impaired wife in 1904. He wins a contract with the American manufacturer General Acousticon Company that produces hearing aids called Acousticon. Hans Demant sells his first hearing aids in Odense, Denmark.[4]
After Hans Demant's death in 1910, his widow Camilla and their son William Demant, take over the responsibility of the company. William expands distribution to Finland and Russia. In 1915, William, and his wife Ida Emilie Høst, travels to Russia to sell hearing aids.
William starts the licensed production of hearing aids from General Acoustics Company. The new hearing aid names Acousticus becomes a registered trademark. He then begins to import unassembled hearing aids without wires and batteries, and sets up a production line in Denmark to assemble the devices.
During World War II, William is unable to import good from USA, England and France. He therefore decides to produce components for the latest Acousticon devices in Denmark and start manufacturing the first Danish-made licensed hearing device - the Acousticus - a copy of the original Acousticon model. In 1943, Oticon become the official name of the company. After World War II has ended, the production of hearing aids in Denmark has become a big success, and Oticon establishes an export business. Together with American hearing aid producer Charles Lehman, they establish the American-Danish Oticon Corporation, headquartered in Copenhagen.
In 1957, William and his wife Ida Emilie donate the familiy's shares in the company to "William Demant and wife Ida Emilie's Foundation, also called the Oticon Foundation, which is now called the William Demant Foundation. The Foundation's general aim is charity, with particular emphasis on helping people with a hearing impairment.
During the 1960s, Oticon expands with subsidiaries in The Netherlands, USA, Norway, Switzerland, and Germany. Mangement also changes during this time, with Bent Simonsen, Henning Mønsted, Torben Nielsen, and Bengt Danielsen taking over Oticon, with Bent Simonsen as General Manager.
Oticon establishes a temporary factory in Skinnerup near Thisted in Denmark. An additional factory in Scotland is also established. Oticon also expands with subsidiaries in France and New Zealand. Eriksholm, Oticon's research centre is established outside of Elsinore in Denmark, in a newly renovated building. At the end of this decade, Oticon is the biggest supplier of hearing aids with a market share of almost 15 percent, and William Demant dies.
Oticon Holding A/S is established in 1983. Oticon produces many powerful hearing instruments, including the E28P BTE, the I52 ITE, and the E43 hearing aid.
Under the leadership of Lars Kolind, the company introduces a new and revolutionary way of working under the slogan "Time to think the unthinkable". Lars also introduced the term 'spaghetti organisation', which is an organisation model he introduced in Oticon in 1991. This type of organisation has no formal hierarchical reporting relationships, a resource allocation system built around self-organised project teams, and an entirely open-plan physical layout. Oticon expanded further, establishing subsidiaries in Australia, Poland, South Africa, and China. The Group also acquired Bernafon, a hearing aid manufacturer based in Switzerland. The acquisition also included the manufacturer of diagnostics equipment, Maico, thus laying the foundation for the Group's diagnostic business activity. 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 1998, Niels Jacobsen is appointed President & CEO of William Demant Holding A/S.
William Demant Holding A/S acquired the Danish manufacturer Interacoustics, that specializes in diagnostic instruments and audiometers. The Group further expands its portfolio with diagnostics instruments with the acquisition of Amplivox in 2008 and Grason-Stadler in 2009. At this point, Demant's Diagnostics Instruments solidifies its position as the world's largest supplier of diagnostic equipment. In 2003, German company Sennheiser electronic and William Demant Holding A/S establish a joint venture to produce and sell headsets for office and gaming, which will later be operated by Demant alone under the brand name EPOS. In 2005, William Demant Holding A/S moves its headquarters and, at that time, 475 employees, to Smørum on the outskirts of Copenhagen. The location is still the headquarter today. Oticon establishes a subsidiary in Finland.
In 2010, Otix Global is acquired, giving the Group a third hearing aid brand, Sonic.[5] The Group acquires the French company Neurelec in 2013, adding Cochlear Implants to the Hearing Implants business. The year after, Neurelec is fully re-branded to Oticon Medical. Later, the Group launches its own cochlear implant, Neuro. In 2015, William Demant Holding AS expands its retail business with a majority stake in the French retailer, Audika.[6] 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 1 April 2017, the company has been led by President & CEO Søren Nielsen and by board chairman Niels B. Christiansen.[7] In 2018, William Demant Holding A/S and Sennheiser announce an end to their joint venture in headsets. Going forward, Enterprise Solutions and Gaming becomes independent divisions under the EPOS brand, which is fully owned by William Demant Holding A/S.[8] William Demant Holding A/S and Philips announce a partnership where William Demant Holding A/S brings Philips branded hearing solutions to market, thus adding a fourth hearing aid brand to the Group.[9] In 2019, William Demant Holding A/S changes name to Demant A/S and launches a new brand strategy to support collaboration across the Group. At the same time, the Oticon Foundation is renamed William Demant Foundation. [10]
EPOS is established as the Group's headset and meeting rooms solutions business. In 2024, the Group announces its intention to find a more suitable owner for EPOS.[11] In April 2022, Demant announced it had agreed to sell Oticon Medical to Australian company Cochlear Limited for kr. 850,000,000 and would exit the hearing implant business.[12] In June 2022, Demant acquired ShengWang and their network of 500 hearing aid clinics in China at a cost of CN¥ 1,750,000,000.[13][14][15] In 2025, Demant acquired Germany's KIND Group for €700,000,000.[16] Business areasThe company has three business areas:
Additional business Demant are or has been involved in:
References
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