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Sivantos, Widex in $8 billion merger to create No 3 in hearing aids

The merger would enable the company to invest more in research and development

Reuters  |  Copenhagen/Frankfurt 

Hearing aid makers Widex and Sivantos agreed to merge on Wednesday to form the world's third-largest supplier behind market leaders Sonova and William Demant. Germany's Sivantos, formerly known as Siemens Audiology, and Denmark's Widex will create a company worth more than 7 billion euros ($8.28 billion), including some 3 billion euros in debt. Makers of hearing aids, whose customers are typically in their seventies or eighties, are benefiting from rising demand in ageing societies, but some are facing challenges adapting to the digital age and the demands of more ...

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First Published: Thu, May 17 2018. 01:17 IST