07.20.22
Rank: #28 (Last year: N/A)
CHF 3.36 Billion ($3.63 Billion)
Prior Fiscal: CHF 2.60 Billion
Percentage Change: +29.3%
R&D Expenditure: CHF 248M
No. of Employees: 16,733
Global Headquarters: Stäfa, Switzerland
KEY EXECUTIVES:
Arnd Kaldowski, CEO
Birgit Conix, CFO
Ludger Althoff, GVP Operations
Claudio Bartesaghi, GVP Corporate HRM & Communications
Victoria E. Carr-Brendel, GVP Cochlear Implants
Christophe Fond, GVP Audiological Care
Martin Grieder, GVP Consumer Hearing
Robert Woolley, GVP Hearing Instruments
In a move that aims to bring hearing and consumer audio tech together, Sennheiser sold its consumer electronics division—along with 600 employees—to Swiss hearing aid firm Sonova for about $241 million last May.
It’s an unusual acquisition in the industry, but it makes some sense. Hearing aid companies are adding modern wireless tech into recent products to boost sound quality and enhance their look. In turn, that helps reduce the stigma of hearing loss and Sennheiser can conversely incorporate hearing tech into consumer products.
“A warm welcome to the new colleagues who have joined us from Sennheiser,” Sonova CEO Arnd Kaldowski told the press when the deal closed. “Linking the complementary strengths of Sonova and Sennheiser, we will now reach even more consumers at different stages of their hearing journey, creating a new path for sustainable growth for our company. We are convinced that our expanded offering of personal audio devices with speech enhancement will be a key contributor to increase the adoption of hearing solutions.”
The company is one of the many that rebounded from the COVID-19 pandemic’s stifle on elective products, growing an impressive 29.3% over the prior fiscal year (ended March 31) to post sales of CHF 3.63 billion and reentering the Top 30 once again.
Sales flourished across the world; 70.3% growth was seen in the U.S. In the Europe, Middle East, and Africa region, proceeds shot up 41.3%, mainly driven by the U.K. and France. In the rest of the Americas, sales grew 56.9% thanks to acquisitions. The Asia Pacific region’s revenue expanded 23.2% supported by solid development in China.
Hearing instruments garnered CHF 1.46 billion, increasing 46.9% over the prior year, supported by strong Phonak Paradise sales as well as the introductions of the Audéo Life rechargeable and waterproof hearing aid and ActiveVent intelligent hearing aid receiver.
Last February, Phonak unveiled the seventh generation of its Naída Paradise hearing aid. At 14% smaller and 27% lighter, the latest iteration features a new custom program memory feature with the myPhonak 5.0 app. A double receiver delivers up to 141 dB of peak gain in the UP model and up to 130 dB in the rechargeable version. The hearing aids can automatically enhance soft speech in quiet places and reduce noise in loud environments. A built-in accelerometer detects movement and automatically steers microphones.
The same month Phonak released the Roger Focus II mini hearing device’s release. The tiny, ear-level receiver can improve speech recognition in noise among children over three with unilateral hearing loss, autism, and auditory processing disorder.
A month later came the release of the Serenity Choice Plus custom hearing-protection portfolio. The new hearing protection device touts a custom-made fit, optimal noise protection, breathable filter, and acoustic leakage tester. The portfolio includes six products for sports, music, sleep, flying, hunting/shooting, and work applications.
Sonova’s Unitron business introduced the Blu hearing aid line last April. It’s powered by the company’s new PRISM (processing real-time intelligent sound management) chip and Integra OS signal processor so listening can be tuned to specific situations. Six optional pre-set programs can be adjusted to enhance speech, reduce noise, or focus the microphones. Up to eight Blu devices can by paired to Andoid and Apple products via Bluetooth, as well.
The HANSATON brand rolled out its STRATOS platform of three RIC hearing aids last April as well. A Dynamic SpeechBeam helps focus on conversations in difficult environments regardless of the direction of speech via 360 degree speech recognition. Intelligent NoiseReduction highlights speech coming from the front and canceling intense background noise. STRATOS hearing aids also have a Lifestyle Analyzer to monitor listening environments and report back relevant information.
Phonak’s Roger On remote microphone entered the market last June for hearing aid and cochlear implant wearers. New MultiBeam 2.0 tech chooses the microphone beam with the best signal-to-noise ratio, telling the wearer the speaker’s direction. Pointing Mode 2.0’s three microphones allow zooming in on a conversation over distance by pointing. The microphone beam can also be steered or changed using a smartphone. According to the company, Roger On is compatible with almost every hearing aid and cochlear implant.
Audiological care proceeds rose 48% to CHF 575 million due to the market rebound from the pandemic as well as bolt-on acquisitions in the U.S. The business expanded the range of its service portfolio in September to include services for patients with medical needs that often coexist with hearing loss like tinnitus care, auditory-cognitive training, and fall risk assessment and mitigation.
The beginning of 2022 saw Sonova’s acquisition of Alpaca Audiology, a large independent U.S. network of audiological care clinics. Sonova shelled out about $310 million for Alpaca to expand direct U.S. consumer access since the company is highly complementary to Sonova’s existing store footprint. Alpaca is expected to generate about $120 million for Sonova annually.
Mainly driven by the successful release of two new sound processors—Naída CI Marvel for Adults and Sky CI Marvel for children—the cochlear implant business accrued CHF 138.3 million, a 67.3% growth. This helped to recapture market share lost due to a voluntary field correction made in February 2020.
CHF 3.36 Billion ($3.63 Billion)
Prior Fiscal: CHF 2.60 Billion
Percentage Change: +29.3%
R&D Expenditure: CHF 248M
No. of Employees: 16,733
Global Headquarters: Stäfa, Switzerland
KEY EXECUTIVES:
Arnd Kaldowski, CEO
Birgit Conix, CFO
Ludger Althoff, GVP Operations
Claudio Bartesaghi, GVP Corporate HRM & Communications
Victoria E. Carr-Brendel, GVP Cochlear Implants
Christophe Fond, GVP Audiological Care
Martin Grieder, GVP Consumer Hearing
Robert Woolley, GVP Hearing Instruments
In a move that aims to bring hearing and consumer audio tech together, Sennheiser sold its consumer electronics division—along with 600 employees—to Swiss hearing aid firm Sonova for about $241 million last May.
It’s an unusual acquisition in the industry, but it makes some sense. Hearing aid companies are adding modern wireless tech into recent products to boost sound quality and enhance their look. In turn, that helps reduce the stigma of hearing loss and Sennheiser can conversely incorporate hearing tech into consumer products.
“A warm welcome to the new colleagues who have joined us from Sennheiser,” Sonova CEO Arnd Kaldowski told the press when the deal closed. “Linking the complementary strengths of Sonova and Sennheiser, we will now reach even more consumers at different stages of their hearing journey, creating a new path for sustainable growth for our company. We are convinced that our expanded offering of personal audio devices with speech enhancement will be a key contributor to increase the adoption of hearing solutions.”
The company is one of the many that rebounded from the COVID-19 pandemic’s stifle on elective products, growing an impressive 29.3% over the prior fiscal year (ended March 31) to post sales of CHF 3.63 billion and reentering the Top 30 once again.
Sales flourished across the world; 70.3% growth was seen in the U.S. In the Europe, Middle East, and Africa region, proceeds shot up 41.3%, mainly driven by the U.K. and France. In the rest of the Americas, sales grew 56.9% thanks to acquisitions. The Asia Pacific region’s revenue expanded 23.2% supported by solid development in China.
Hearing instruments garnered CHF 1.46 billion, increasing 46.9% over the prior year, supported by strong Phonak Paradise sales as well as the introductions of the Audéo Life rechargeable and waterproof hearing aid and ActiveVent intelligent hearing aid receiver.
Last February, Phonak unveiled the seventh generation of its Naída Paradise hearing aid. At 14% smaller and 27% lighter, the latest iteration features a new custom program memory feature with the myPhonak 5.0 app. A double receiver delivers up to 141 dB of peak gain in the UP model and up to 130 dB in the rechargeable version. The hearing aids can automatically enhance soft speech in quiet places and reduce noise in loud environments. A built-in accelerometer detects movement and automatically steers microphones.
The same month Phonak released the Roger Focus II mini hearing device’s release. The tiny, ear-level receiver can improve speech recognition in noise among children over three with unilateral hearing loss, autism, and auditory processing disorder.
A month later came the release of the Serenity Choice Plus custom hearing-protection portfolio. The new hearing protection device touts a custom-made fit, optimal noise protection, breathable filter, and acoustic leakage tester. The portfolio includes six products for sports, music, sleep, flying, hunting/shooting, and work applications.
Sonova’s Unitron business introduced the Blu hearing aid line last April. It’s powered by the company’s new PRISM (processing real-time intelligent sound management) chip and Integra OS signal processor so listening can be tuned to specific situations. Six optional pre-set programs can be adjusted to enhance speech, reduce noise, or focus the microphones. Up to eight Blu devices can by paired to Andoid and Apple products via Bluetooth, as well.
The HANSATON brand rolled out its STRATOS platform of three RIC hearing aids last April as well. A Dynamic SpeechBeam helps focus on conversations in difficult environments regardless of the direction of speech via 360 degree speech recognition. Intelligent NoiseReduction highlights speech coming from the front and canceling intense background noise. STRATOS hearing aids also have a Lifestyle Analyzer to monitor listening environments and report back relevant information.
Phonak’s Roger On remote microphone entered the market last June for hearing aid and cochlear implant wearers. New MultiBeam 2.0 tech chooses the microphone beam with the best signal-to-noise ratio, telling the wearer the speaker’s direction. Pointing Mode 2.0’s three microphones allow zooming in on a conversation over distance by pointing. The microphone beam can also be steered or changed using a smartphone. According to the company, Roger On is compatible with almost every hearing aid and cochlear implant.
Audiological care proceeds rose 48% to CHF 575 million due to the market rebound from the pandemic as well as bolt-on acquisitions in the U.S. The business expanded the range of its service portfolio in September to include services for patients with medical needs that often coexist with hearing loss like tinnitus care, auditory-cognitive training, and fall risk assessment and mitigation.
The beginning of 2022 saw Sonova’s acquisition of Alpaca Audiology, a large independent U.S. network of audiological care clinics. Sonova shelled out about $310 million for Alpaca to expand direct U.S. consumer access since the company is highly complementary to Sonova’s existing store footprint. Alpaca is expected to generate about $120 million for Sonova annually.
Mainly driven by the successful release of two new sound processors—Naída CI Marvel for Adults and Sky CI Marvel for children—the cochlear implant business accrued CHF 138.3 million, a 67.3% growth. This helped to recapture market share lost due to a voluntary field correction made in February 2020.