William Demant and Philips in Hearing-Aid Partnership

Date : 08/03/2018 @ 8:09AM
Source : Dow Jones News
Stock : Koninklijke Philips NV (PHIA)
Quote : 38.94  -0.305 (-0.78%) @ 4:40PM
Koninklijke Philips NV share price Chart

William Demant and Philips in Hearing-Aid Partnership

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By Dominic Chopping

 

Danish hearing aid maker William Demant Holding AS (WDH.KO) said Friday that it has signed a licensing deal with Dutch technology firm Koninklijke Philips NV (PHG) to bring Philips-branded hearing-aid products to the global market.

William Demant said the deal will combine its hearing-aid technology with Philips' global brand presence in health care.

"By partnering with Philips, we get a unique opportunity to take connected hearing health care to the next level and offer new and exciting solutions within integrated health-care services to the benefit of both professionals and people living with hearing loss," said William Demant's Chief Executive Soren Nielsen.

Further details of the deal will be communicated at a later stage, the company said.

 

Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics

 

(END) Dow Jones Newswires

August 03, 2018 02:54 ET (06:54 GMT)

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