COPENHAGEN, DENMARK – In a significant step to expand its footprint in Denmark, Demant has announced the acquisition of Dansk HøreCenter, a Danish chain of hearing care clinics, from its competitor GN. The deal, worth DKK 100 million (~$14.9m USD), represents one of Demant’s larger transactions in the retail sector, further solidifying its market presence in the region.
With the acquisition of Dansk HøreCenter, Demant’s Danish hearing care entity, Audika, will see a substantial increase in its network of fully owned clinics across Denmark, enabling it to offer more people access to personalized hearing care and the latest Oticon hearing aid technology.
Demant’s Strategic Growth Initiative
The acquisition aligns with Demant’s broader strategy of growth through acquisitions, a key component of its ambition to lead the global hearing healthcare market. Demant has been making similar acquisitions in other markets, steadily expanding its global market presence in hearing care. In Denmark, Audika will continue to operate the newly acquired clinics under its brand name.
“Through personalized hearing care, Audika’s global mission is to help more people hear better, and the integration of Dansk HøreCenter into our Danish hearing care activities supports this. The acquisition is fully in line with Demant’s strategy where growth through acquisitions plays a key part in our ambition as the leading hearing healthcare company to improve as many lives as possible. The acquisition marks the continuation of an exciting growth journey on the Danish hearing care market, and we look forward to delivering an excellent customer experience to even more people in Denmark.”
–Niels Wagner, President of Hearing Care at Demant
Dansk HøreCenter currently has 36 clinics across Denmark
The acquisition significantly enhances Audika’s market presence in Denmark, increasing revenue, market share, and the number of clinics and employees. This growth is expected to generate substantial synergy benefits, providing customers with an expanded network of clinics across the country.
“At Audika, we work passionately every day to help people who live with a hearing loss to re-experience the joy of sound – whether it is hearing birds singing again or getting back the ability to take part in conversations in noisy environments and thus staying socially active,” said Tine Schou, General Manager of Audika Denmark. “We share this passion with Dansk HøreCenter, and we look very much forward to welcoming all the new employees to our company.”
Looking Ahead
Following the acquisition, which is set to be completed on September 2, 2024, Audika Denmark will begin a strategic review of the combined businesses to determine the best setup and structure moving forward. In the short term, both Audika Denmark and Dansk HøreCenter will continue to operate as separate entities, ensuring a high level of service and support for all customers.
Facts about Audika
Demant has actively operated hearing care clinics in Denmark since 2013 and under the Audika brand since 2018. Audika currently has 42 clinics in all regions in Denmark and more than 100 skilled employees. Every day, Audika performs assessments of people’s individual hearing loss through hearing and speech tests, offers counselling on the benefits of hearing aids, fits hearing aids, which includes verification of fitting, counselling on the use of hearing aids and connectivity solutions, and sells and services hearing aids. In short, Audika helps users on every step of their hearing journey.
Facts about Dansk HøreCenter
Dansk HøreCenter was established in 1994 and was acquired by GN in 2013. With 30 years of experience, Dansk HøreCenter is one of the leading hearing care chains in Denmark with highly competent audiologists who, on a daily basis, help people to the optimal hearing solution.
Dansk HøreCenter currently has 36 clinics and approximately 80 employees across all Danish regions.
About Demant
Demant is a world-leading hearing healthcare and technology group built on a heritage of care, health and innovation since 1904. The Group offers innovative technologies, solutions and know-how to help improve people’s health and hearing. In every aspect, from hearing care, hearing aids and hearing implants to diagnostic equipment and services and audio solutions, Demant is active and engaged. Headquartered in Denmark, the Group employs more than 21,000 people globally and is present with solutions in 130 countries where we create life-changing hearing health. William Demant Foundation holds the majority of shares in Demant A/S, which is listed on Nasdaq Copenhagen as a blue chip stock.
Source: Demant
