SINGAPORE AND LYNGE, DENMARK — EQT funds, owners of Sivantos Pte. Ltd. (“Sivantos”), and the Tøpholm and Westermann families, owners of Widex A/S (“Widex”), have announced the successful completion of the merger between Sivantos and Widex.
The newly created company will operate under the name WS Audiology and be headquartered in Lynge, Denmark and Singapore. The newly merged company will have a presence in more than 125 markets, combined revenues of more than EUR 1.7 billion ($1.92 billion USD) and more than 10,000 employees worldwide.
WS Audiology will be led by a highly experienced management team with a balanced representation from both Sivantos and Widex. Jørgen Jensen, who had been serving up to now as CEO of Widex, will head the new company as Chief Executive Officer.
Wolfgang Ollig, Sivantos’ current CFO, will continue in the same position at the newly formed company.
Thomas Ebeling, Chairman of the Board of Directors of Sivantos, has been appointed Chairman of the Board of Directors of WS Audiology. Jan Tøpholm, up to now Chairman of Widex, will take on the role as Deputy Chairman. Ignacio Martinez, to date CEO of Sivantos, will join the Board of Directors, and Henrik Bender, until now CFO of Widex, will lead the integration process.
“Today marks the beginning of a great new journey. Two pioneers joining forces with one clear ambition: to expand access to hearing aids and care to serve the millions of people with hearing needs across the world. This merger gives WS Audiology the scale and innovation capabilities to deliver on this goal. We are setting out to excel with best-in-class products and accelerate our shared growth across all our brands. The future holds great opportunities and together, as one team, we will be able to seize the momentum we have gained”
–Jørgen Jensen, CEO of WS Audiology.
“Both Widex and Sivantos have been at the forefront of innovation in the industry. Together, WS Audiology has abundant resources to create excellent products and further accelerate innovation with creative, high-tech and easy-to-use products and services, broadening the choice for hearing aid users,” said Thomas Ebeling, Chairman of the Board of Directors of WS Audiology.
“As WS Audiology takes shape today, we are one big step closer to becoming the clear innovation leader, developing the best possible hearing aids to improve the life of those with hearing needs. We are united by our proud heritage, our long history as ‘first movers’, and our insatiable curiosity that drives our innovation and technology,” said Jan Tøpholm, Deputy Chairman of the Board of Directors of WS Audiology.
WS Audiology will offer a diverse portfolio of technologically advanced hearing aid products and services. With its brands Signia, Widex, Rexton, Audio Service and others, WS Audiology addresses the needs of the millions of people with hearing requirements.
Going forward, WS Audiology will accelerate its growth, strengthen its market penetration and enhance efficiencies to enable additional investments in R&D and the supply chain. This will allow the company to expand access to hearing healthcare via its dedicated salesforce, “increasing the quality of life for millions of people and allowing them to experience the world of sound to the fullest”.
Source: WS Audiology