Demant’s current R&D programme focuses on the development of new audiological technology

demant

Image: Demant is a major provider of advanced hearing healthcare solutions. Photo: courtesy of Nordic Investment Bank.

Danish hearing healthcare company Demant has secured €60m ($66.04m) financing from the Nordic Investment Bank (NIB) to advance its current research and development (R&D) programme.

NIB has entered into a seven-year loan agreement with Demant to finance its research investments for 2019.

Demant will use the funding to focus on the development of new audiological technology, in addition to improving the design, computational powers and longevity of hearing aid devices to enhance user experiences.

According to NIB, the demand for hearing aids is increasing across the globe due to demographic change and better diagnostics.

Demant has its own Eriksholm research facility for audiological innovations

Demant has collaborated with universities, research centres and the corporate sector to advance hearing healthcare technology.

The company has its own Eriksholm research facility for the development of audiological innovations.

NIB said that the current loan is the third one agreed between the bank and Demant since 2015.

Demant is a major hearing healthcare group, which works to provide advanced hearing solutions and services to its customers across the globe.

The company’s product portfolio is comprised of hearing aids, diagnostic instruments, hearing implants and audio solutions in areas such as enterprise communication and gaming.

Demant produces products ranging from small portable devices to full clinical instruments.

With companies in more than 30 countries, the Demant group markets its products in over 130 countries.

A hearing aid is an electroacoustic device that increases the volume of the world around the user. Hearing aids are generally used to address age-related hearing loss.

Bone-anchored hearing systems use the body’s natural capacity to transfer sound via bone conduction.

In March this year, hearing aid developer Eargo secured more than $52m in series D funding round for further product innovation, increased awareness and accelerated expansion.

NIB is an international financial institution owned by eight member countries such as Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides funds for private and public projects in and outside the member countries.