 |
| Company type | Private company |
|---|---|
| Industry | Hearing instruments |
| Founded | 2019 |
| Headquarters | Lynge, Denmark; Singapore [1] |
Key people | Eric Bernard, CEO (since Sep 2019) |
| Revenue |  €2.47 billion (fiscal year 2022-23)
[2] |
Number of employees | ~12,000 |
| Website |
www |
WS Audiology (formerly Sivantos Group and Widex) is a privately-owned manufacturer of hearing aids with headquarters in Denmark and Singapore with roots going back to 1878 and Siemens AG. [1] The current company was created following the 2019 merger of Sivantos Group and Widex. [3] Prior to that, Sivantos was spun off from Siemens after Siemens AG sold the company to EQT and Santo Holding in 2015. [4] [5] WS Audiology employs about 12,000 people in more than 125 countries. In fiscal year 2022-2023, the company generated revenue of €2.47 billion and adjusted EBITDA of €480 million. [2]
The company develops, manufactures, sells and distributes hearing aids under the following brands: A&M, audibene, Audio Service, Bloom, Coselgi, hear.com, HearUSA, Lifestyle Hearing Network, Rexton, Signia, Shoebox, TruHearing, Widex and Widex Hearing Specialists. [6]
History
In 1878, Werner von Siemens built a telephone with a horseshoe magnet, which amplified, and improved voice signal quality. [7] In 1913, Siemens introduced the first industrially-produced hearing instrument, the Esha-Phonophor. [8]
During the 1950s, Christian Tøpholm and Erik Westermann formed Widex and began developing hearing devices in Tøpholm's converted cellar. [7] In 1956, the company produced its first model, the Widex 561. [9] In 1959 Siemens developed the Auriculette, a behind-the-ear (BTE) device with small lightweight components that fit together in a single unit. In 1966, they developed their first device worn entirely in-the-ear (ITE), the Siretta 339. [7] [8]
In 1988, Widex produced the first digitally-programmable hearing aid with a remote control, the Quattro Q8. In 1995, Widex created Senso, the first fully digital unit that fits completely in the ear. [10] In 2004, the company created the world's first hearing aid in which right and left devices were synchronized and in 2008, the world's smallest receiver-in-canal hearing aid. [7]
In 2015, Swedish private equity firm EQT bought Siemens Audiology Solutions for more than 2 billion euros and renamed the company Sivantos. [11]
Sivantos Group joined the UN Global Compact Initiative in 2017 and began to streamline its social activities and CSR policy. The company's first Communication on Progress, the annual report to the office of the UN Secretary General, was published on 24 May 2018. [12]
In 2018, Widex and Sivantos announced an $8B merger, creating the 3rd largest hearing conglomerate in the world. [13] The combined company changed its name to WS Audiology in 2019. [14]
Management
WS Audiology is led by CEO Eric Bernard, who joined the company in June 2019. Previously, Bernard spent over twenty years at the Essilor Group, where he joined the Executive Committee in 2011. He took over from CEO Jørgen Jensen in September 2019. [15]
Brands
The company develops, manufactures, sells and distributes hearing aids under the following brands: A&M, audibene, Audio Service, Bloom, Coselgi, hear.com, HearUSA, Lifestyle Hearing Network, Rexton, Signia, SHOEBOX, TruHearing, Widex and Widex Hearing Specialists. [6]
hear.com / audibene
hear.com and its European brand audibene provide online hearing care through a network of 5,000 independent partner audiologists and 1,000 hearing care experts. The company was founded in 2012 by Dr. Marco Vietor and Paul Crusius. [16] In 2015, the company and Sivantos Group entered into a strategic partnership and investment agreement. The agreement defined that Dr. Marco Vietor and Paul Crusius will become part of the Sivantos management and continue to lead to hear.com (in Europe audibene) business, as well as support the company in its further international expansion efforts.[ citation needed] In 2019, the company generated $150 million in revenue. [17] In 2020, the company was reorganized as hear.com NV, however keeping the brand audibene in Europe.[ citation needed]
References
- ^ a b "Sivantos and Widex merge to become WS Audiology ," Audiology Worldnews, 6 March 2019.
- ^ a b "Annual Report 2023" (PDF). WSA.com. 1 January 2023. Retrieved 20 December 2023.
- ^ "Widex, Sivantos win EU approval for $8.3 billion hearing aid merger". Reuters. 14 February 2019. Retrieved 16 April 2021.
- ^ "Sivantos". Current portfolio. EQT Partners. Archived from the original on 15 November 2018.
- ^ "History". Sivantos Group. Archived from the original on 9 July 2016. Retrieved 8 June 2016.
- ^ a b "Brands". WS Audiology.
- ^ a b c d "History". WSA.com. Retrieved 25 April 2021.
- ^ a b Bray, Chad (6 November 2014). "Siemens to Sell Its Hearing Aid Unit for About $2.69 Billion". The New York Times. Retrieved 26 April 2021.
- ^ Glass, Nick (9 November 2012). "Pitch perfect: The quest to create the world's smallest hearing aid". CNN. Retrieved 17 May 2021.
- ^ Alexander, Howard (26 November 1998). "Hearing Aids: Smaller and Smarter". The New York Times. Retrieved 26 April 2021.
- ^ "Siemens Audiology's New Name Is Sivantos; Purchase Finalized". The Hearing Review. 16 January 2015. Retrieved 17 May 2021.
- ^ "CSR - This is how Sivantos Group gives back". Sivantos. Retrieved 9 July 2018.
- ^ Jacobsen, Stine (15 May 2018). "Sivantos and Widex in $8 billion merger to create No.3 in hearing aids". Reuters. Retrieved 19 June 2018.
- ^ "WS Audiology". Current portfolio. EQT Partners. Retrieved 17 November 2020.
- ^ WS Audiology Promotes Bernard and Bender to New Leadership Roles
- ^ "How two entrepreneurs are revolutionizing hearing care with smart technology". Business Insider. 11 September 2020. Retrieved 26 April 2021.
- ^ Engert, Bettina (3 December 2020). "Listen up! How a Startup From Berlin Revolutionized Hearing Worldwide". Acton. Retrieved 26 April 2021.