WASHINGTON (dpa-AFX) - Demant A/S (DEMANT.CO, WILYY), a hearing healthcare group on Wednesday said it agreed to sell Oticon Medical to Impilo, a Nordic investment company for a contractual consideration of up to 600 million Danish Kroner. The agreement completes the divestiture of Demant's Hearing Implants business segment.
As per the agreement, A 325 million Danish Kroner will be paid in cash at closing, and the rest as milestone payments in the coming years, upon achieving certain targets. The transaction closure is expected to take place no later than the end of first quarter of 2026.
As part of the agreement Demant will support Impilo for a defined period of time, as they develop Oticon Medical into a stand-alone business. The transitional services also include developing next-generation products, supplying existing and future sound processor, providing local sales and customer support and administrative services, until such functions are established in Oticon Medical.
The proceeds from the divestment will be added to cash reserves of Demant.
In the Copenhagen market, the Demant shares were trading 0.42% higher at 240.80 Krone.
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