Demant acquires remaining 80% of Shengwang, completing acquisition

The Danish hearing aid giant bought 20% of shares in the Chinese hearing aid clinic network in March, and has now acquired the rest.

Søren Nielsen, CEO of Demant | Photo: Kenneth Lysbjerg Koustrup/Jyllands-Posten/Ritzau Scanpix

Demant has purchased the remaining 80% of shares in Shenwang, a network of hearing aid clinics in China, which was all that was needed for the hearing aid manufacturer to call itself the sole owner of the Chinese company, according to a press release.

In March, Demant bought the first 20% of the firm, saying then that the aim was to buy the remaining shares before the end of H1 2022.

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