Investor news3 August 2018

William Demant and Philips partner in hearing healthcare

Based on a shared vision of improving the lives of people through innovative healthcare, William Demant will bring Philips-branded hearing solutions to the global market. This new cooperation will not only change the way we see hearing healthcare, but also widen the definition of hearing healthcare to the benefit of the end-user and hearing care professionals.

Copenhagen, Denmark – William Demant, a global leader in hearing healthcare, today announced that based on a licensing agreement, they are partnering with Philips to bring Philips-branded solutions to hearing healthcare. Combining William Demant’s world-leading hearing aid technology with Philips’ global brand presence in healthcare, the cooperation will enrich the hearing healthcare experience and support the healthy lifestyle and active life of even more people with hearing loss. Additionally, the solutions will present unique opportunities for hearing care professionals in an ever-evolving market.

“I am happy and proud to partner with Philips – one of the world’s best known and highly trusted healthcare brands. We clearly see a great match between William Demant’s technological know-how and Philips’ broader healthcare offering. By partnering with Philips, we get a unique opportunity to take connected hearing healthcare to the next level and offer new and exciting solutions within integrated healthcare services to the benefit of both professionals and people living with hearing loss,” says Søren Nielsen, President & CEO of William Demant.

“We are excited to partner with William Demant, as they bring audiological leadership and innovative hearing technology to the market. Together, we will be able to help improve the lives of even more people living with hearing loss and deliver on our shared vision of creating a healthier world through innovation,” says Andrew Mintz, SVP, Head of Global Brand Licensing at Philips.

Health, caring and innovation are cornerstones in the vision of both William Demant and Philips, which makes the partnership a great match for the future. Furthermore, it will strengthen and add value to both companies’ ambition to improve people’s lives.

Further details on the cooperation will be communicated at a later stage.

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Further information:
Søren Nielsen, President & CEO
Phone +45 3917 7300
Other contacts:
René Schneider, CFO
Søren B. Andersson, VP IR
Mathias Holten Møller, IR Officer
Trine Kromann-Mikkelsen, VP Corporate Communication

About William Demant
William Demant offers solutions and services that directly or indirectly help people with hearing loss connect and communicate with the world around them. Listed on Nasdaq Copenhagen, William Demant is a leading global hearing healthcare group that is active in the entire hearing healthcare market – from hearing devices and hearing implants to diagnostic equipment – with a vision to make a life-changing difference to people living with hearing loss. The Group operates in a global market with activities in more than 130 countries.