EUHA 2017 Doesn't Alter Our Current Position on the Hearing Instrument Market
We aren't making any changes to our moats or valuations for Sonova and William Demant following our attendance of EUHA 2017. However, the conference did give us more clarity on the upcoming Bluetooth Low Energy audio streaming standard and on the different strategies each major player in the space is taking ahead of this important industry event. We met with all six major players in the hearing instrument space (of which three are private companies) as well as two cochlear implant firms (Cochlea...William Demant Holding is a holding company. Through its subsidiaries, Co develops, manufactures and sells products and equipment designed to aid the hearing and communication of individuals. Co. focuses on four areas: Hearing Devices, Diagnostic Instruments, Hearing Implants and Personal Communication. Co.'s hearing devices include Oticon, Bernafon, Sonic, Phonic Ear, and FrontRow. Co.'s Hearing implant consist of Oticon Medical. Co.'s diagnostic instruments include Maico, Interacoustics, Amplivox, Grason-Stadler, MedRx, and Micromedical. Co.'s personal communication consists of Sennheiser Communications.
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