Sonova completes Hysound Group acquisition, strengthens presence in China
The hearing aid giant now owns over 200 hearing clinics in China.
MedWatch
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The hearing aid giant now owns over 200 hearing clinics in China.
Carnegie analyst Niels Granholm Leth thinks it will be difficult for Cochlear to get its acquisition of Demant’s Oticon More division past the Australian competition authorities, but thinks Demant has other options for divesting.
Debt normalization for GN Audio is no longer realistic, says Carnegie analyst Niels Granholm Leth. The debt situation has left GN with four options, two of which are realistic, he assesses.
The proposed acquisition of Demant’s Oticon Medical division by Cochlear has caused concern at the Australian Competition and Consumer Commission.
A past investment in convertible notes has now turned into a majority stake of 76.3% in the hearing firm, which also clears its debts.
The hearing company isn’t currently planning to let people go, say CEO Eric Bernard and CFO Marianne Wiinholt. (Corrected)
The hearing aid manufacturer is expecting growth in fiscal 2022/2023 to be under its recent annual result due to a market decline that looks to continue into the future, says CEO Eric Bernard.
The US retail chain has stopped selling its own private label hearing aids – and until the next generation comes along, other hearing companies selling products via Costco are enjoying the empty shelf space.
The hearing giant reported 7% organic revenue growth for the financial year, though macroeconomic conditions have led the firm to be more conservative with next year’s estimates.
Norges Bank was a 5% shareholder in the hearing company for a short while before dropping below the threshold again.
As Sonova pulls products from the US retailer, other brands’ prices have gone up.
Despite the pair having torn up their previous contract, Sonova might find other uses for Costco, an analyst says.
Morten P. Toft has been keeping track of the hearing aid manufacturer’s finances in recent years, but has now announced he is leaving to start in a similar role at greentech company Green2X from February.
The US retail chain’s private label hearing aid has been discontinued by Sonova, the company manufacturing the products.
When the US public hearing aid sales channel provides its next monthly update, Swedish bank Handelsbanken predicts GN Hearing will have increased its foothold, thanks to a new product.
A year involving a couple of downgrades was not what the Danish hearing firm had in mind when 2022 began. Now, Audientes must raise DKK 24.3m (USD 3.3m) to keep going for another twelve months.
CEO Gitte Aabo explains that GN Hearing’s declining VA market share is due to an ”unfortunate” launch – but this is hardly the only factor, responds an analyst. Both agree a new product will turn things around, but to what extent?
Per Wold-Olsen has told a media that he has yet to decide whether he will run to be reelected the chairman of GN Group.
The Danish hearing firm has adjusted its revenue expectations by millions of Danish kroner after a new product launch has been postponed until next year.
The large client, which Sonova doesn’t mention by name, has historically changed suppliers of its private hearing aid label every few years. This is worth keeping in mind if renegotiations were to happen.
Long-standing Chairman of GN Group Per Wold-Olsen is pleased that the company has a large shareholder in its ownership circle again.
In October, the US retail chain reportedly stopped selling a private label hearing aid launched by Sonova. The hearing company now says it stands to lose a ”large contract” in the US.
Though several analysts are pointing fingers, the hearing aid manufacturer’s CEO doesn’t think debts have tied the company down – quite the contrary.
Hearing aid giant Sonova has lowered its expectations for 2022 after the second quarter of its accounting year, which other hearing firms also found to be challenging.
The personal feelings of a chairman do not have a role to play regarding a takeover, points out GN Chair Per Wold-Olsen, noting that such decision-making power resides elsewhere.
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