MedWatch

Demant CEO won't rule out dismissals following divestment of implant division

The 700 people employed at Demant’s surgical division, Oticon Medical, have an uncertain future ahead after the parent company announced its intention to sell the unit to Cochlear. CEO Søren Nielsen says some people might be transferred and others reshuffled within Demant, but he won’t reject having to resort to dismissals.

Photo: Kenneth Lysbjerg Koustrup/Jyllands-Posten/Ritzau Scanpix

If any worried faces were detected this morning among the around 700 people working at the implant division of hearing aid manufacturer Demant, it is well understood why.

Wednesday morning, the parent company announced that Australian firm Cochlear is set to take over the business dealing with both bone-anchored solutions and cochlear implants for DKK 850m (USD 121.5m).

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