Report
Alex Morozov
EUR 100.00 For Business Accounts Only

We're concerned about wholesalers expanding own-retail channels to the detriment of William Demant.

The May 16 announcement of a merger between Sivantos and Widex is the hearing industry's most meaningful development since Sivantos itself was purchased by EQT Funds from Siemens back in 2015. This deal places Sivantos-Widex roughly in line with Sonova and William Demant in terms of market share, at approximately 25% each. It also addresses both firms' relative weaknesses: For Sivantos, Widex offers a product portfolio that tends to skew to the premium side, with strong reputation and brand awar...
Underlying
Demant A/S

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Alex Morozov

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