SMØRUM, DENMARK — Demant has signed an agreement to sell Oticon Medical to Nordic investment firm Impilo for a total contractual consideration of up to DKK 600 million (approximately USD $85 million). The transaction concludes Demant’s divestment of its Hearing Implants business area.
The agreement ensures continuity for Oticon Medical’s operations and supports its long-term market position, future growth, and continued investment in innovation for the benefit of customers and patients.
“I’m very happy that Impilo is taking over the ownership of Oticon Medical. Impilo is a Nordic company that knows the healthcare – and especially the MedTech – sector very well. They have a long-term perspective, and I’m confident that Oticon Medical will continue to prosper under its new ownership. Oticon Medical is leaving Demant in good shape, as the company has delivered good growth over the years and recently enhanced its product portfolio with the launch of the flagship product, Sentio. Demant is committed to supporting the transition of the business for the benefit of customers, patients and employees”
–Søren Nielsen, President & CEO of Demant
As part of the agreement and to ensure business continuity, Demant will support Impilo for a defined period as it develops Oticon Medical into a stand-alone business. These transitional services will include joint development of next-generation products, supply of existing and future sound processors, and provision of local sales, customer support, and administrative services until these functions are fully established within Oticon Medical.
“We are thrilled to acquire Oticon Medical from Demant. Under Demant’s leadership, Oticon Medical has established itself as a global leader in the bone-anchored hearing systems (BAHS) market, renowned for its innovation and unwavering commitment to patient care. This acquisition marks an exciting new chapter for Oticon Medical, positioning the company for even greater growth and long-term success. In close partnership with Demant, we look forward to investing in and accelerating the development of cutting-edge BAHS solutions to further enhance patient outcomes worldwide,” said Fredrik Strömholm, Managing Partner at Impilo.
Financial Impact and Transaction Details
The transaction involves the divestment of Demant’s Oticon Medical business for a total contractual consideration of up to DKK 600 million (USD $85 million). Subject to net working-capital and debt adjustments, DKK 325 million (USD $46 million) will be paid in cash at closing, with the remaining amount contingent upon the achievement of certain performance targets and milestones over the coming years.
Proceeds from the divestment will be added to Demant’s cash reserves and will reduce the group’s gearing multiple.
The transaction is subject to customary closing conditions and regulatory approvals, with closing expected to take place no later than the end of Q1 2026.
Hearing Implants (Oticon Medical) will be reported as part of Demant’s discontinued operations, alongside Communications (EPOS). The group now expects a loss from discontinued operations of around DKK 200 million (USD $28 million) in 2025, compared with a previously expected profit of DKK 0–50 million. The revised outlook reflects provisions for agreed future services and deliverables, offsetting the positive effect of the gain on the sale of Oticon Medical.
About Demant
Demant is a world-leading hearing-healthcare group built on a heritage of care, health, and innovation since 1904. The Group offers technologies, solutions, and expertise that help people hear better—spanning hearing aids, diagnostics, and hearing-care services. Headquartered in Denmark, Demant employs more than 22,000 people globally and operates in 130 countries. The William Demant Foundation holds the majority of shares in Demant A/S, which is listed on Nasdaq Copenhagen among the 25 most-traded Danish companies.
About Oticon Medical
Oticon Medical is a global company specializing in bone-anchored hearing solutions. Dedicated to improving hearing at every stage of life, the company collaborates with audiologists, surgeons, and other hearing-care professionals to empower tens of thousands of hearing-implant users each day, helping them live full lives through better access to sound and communication.
About Impilo
Impilo is a Nordic investment company focused exclusively on healthcare. Founded in 2017, it manages approximately EUR 2 billion (USD $2.1 billion) on behalf of prominent Nordic and international investors. Impilo’s philosophy centers on sustainable, patient-centric growth, ensuring that its portfolio companies contribute meaningfully to the societies and markets they serve. With offices in Copenhagen and Stockholm, Impilo is dedicated to fostering innovation and long-term value creation in healthcare.
Source: Demant
