Philips to private-label Demant hearing aids

William Demant (CPH:WDH) said this week that it inked a deal to market its line of hearing aid devices under Royal Philips (NYSE:PHG) brand.

Denmark-based Demant said that Amsterdam-based Philips will offer a complete range of hearing aids, accessories and applications under the Philips HearLink brand

“Based on a shared vision of improving the lives of people through innovative healthcare this new cooperation will not only change the way we see hearing healthcare, but also widen the definition of hearing healthcare, supporting healthier lifestyles and active aging. Combining Demant’s world-leading hearing aid technology with Philips’ global brand presence in healthcare, the cooperation will enrich the hearing healthcare experience,” Philips brand licensing senior director Spencer Ramsey said in a prepared statement.

The companies said that the HearLink devices can be connected to other devices, including smartphones and televisions, and that the products are available now.

“The Philips hearing aids will provide users with an innovative, future-proof hearing solution. We live in an age where user engagement and digital services are shaping the future of healthcare technology. More and more people are conscious of taking control of their own personal healthcare and are using electronic devices to do so. In this light, Philips hearing solutions offers new and exciting premium solutions alongside Philips’ healthcare ecosytem, which will attract interest and generate significant benefits to users, ultimately supporting our valued customer base of hearing care professionals. With this partnership, we take connected hearing healthcare to the next level and offer new and exciting solutions within integrated healthcare services to the benefit of both professionals and people suffering from a hearing loss. Health, caring and innovation are cornerstones in the vision of both Demant and Philips, which makes the partnership a great match for the future. Furthermore, it will strengthen and add value to both companies’ ambition to improve people’s lives,” Demant prez & CEO Søren Nielsen said in a press release.

Earlier this month, Philips won a $450 million contract to supply the U.S. Department of Defense with patient monitoring systems, accessories and training.

from MassDevice http://bit.ly/2UyHOTb