Demant

Demant A/S is a Danish multinational corporation specializing in hearing healthcare and audio technology, founded in 1904 by Hans Demant to address his wife Camilla's hearing loss through the sale of early hearing devices.^[1] Headquartered in Smørum, Denmark, the company develops, manufactures, and distributes a wide range of products including hearing aids, diagnostic equipment, and professional audio solutions, operating under well-known brands such as Oticon, Philips Hearing, Interacoustics, and Maico.^[2] With a presence in over 130 countries and more than 22,000 employees, Demant serves millions of people with hearing impairments worldwide, emphasizing innovation in personalized hearing care and communication technologies.^[2] The company's history traces back to a small mechanics shop in Hellerup, Denmark, where the Demant family began importing and customizing hearing devices, evolving into a global leader through strategic acquisitions and technological advancements over the 20th century.^[1] Formerly known as William Demant Holding A/S until 2019, Demant rebranded to reflect its broader focus on hearing health beyond the family name, while maintaining its commitment to research-driven solutions for hearing loss.^[3] Following the divestiture of its Communications business in 2025, its business is structured into key segments: Hearing Care, which provides clinic-based services through networks like Audika and HearingLife; Hearing Aids, encompassing advanced hearing aids under brands such as Oticon and Philips; and Diagnostics, offering audiometric tools for hearing and balance assessment through companies like Interacoustics and Maico.^[4] In recent years, Demant has reported strong financial performance, with 2024 revenue reaching DKK 22,419 million and an operating profit of DKK 4,404 million, driven by growing demand for hearing solutions amid an aging global population and advancements in AI-integrated devices.^[5] The company prioritizes sustainability, targeting a 46% reduction in CO2 emissions by 2030, and supports philanthropy through the William Demant Foundation, which donated DKK 8 million in 2024, mainly to PhD projects in the Demant Group.^[2] As a publicly traded entity on Nasdaq Copenhagen under the ticker DEMANT, Demant continues to innovate in areas like wireless connectivity and tele-audiology, positioning itself as a comprehensive provider in the hearing ecosystem.^[3]

Overview

Company profile

Demant A/S is a Danish multinational corporation specializing in the hearing healthcare sector, headquartered in Smørum, Denmark.^[6] The company focuses on developing, manufacturing, and distributing innovative solutions for individuals with hearing loss, positioning itself as a global leader in hearing aids, audiology equipment, and associated services within the medical devices and healthcare technology industries.^[4] At its core, Demant's mission centers on advancing care, health, and innovation to help people connect and communicate effectively despite hearing impairments, a commitment that has driven its operations since its early days.^[7] As of 2024, the company employs more than 22,000 people worldwide and is publicly listed on Nasdaq Copenhagen under the ticker symbol DEMANT.^[8] In 2019, Demant underwent a rebranding from its former name, William Demant Holding A/S, to better encompass its expanded role in the broader hearing healthcare ecosystem beyond traditional hearing aids.^[9] This evolution from a family-founded enterprise underscores its transformation into a comprehensive hearing health provider.^[1]

Global operations

Demant operates in over 130 countries, with a network of more than 4,500 retail locations worldwide dedicated to hearing care services.^[7][10] This extensive footprint supports the delivery of hearing healthcare solutions through owned clinics and distribution channels, enabling access for millions of individuals annually. The company's primary market is Europe, including its headquarters in Denmark, followed by strong positions in North America and the Asia-Pacific region. Manufacturing facilities are located in Denmark for core research and production, the United States for innovation and assembly, and China to support regional operations and component sourcing.^[11] These sites facilitate localized production to reduce lead times and adapt to regional demands. Demant's supply chain is integrated and resilient, encompassing the in-house production of key components such as receivers, electronics, and software, alongside global sourcing from specialized suppliers. Emphasis is placed on efficient distribution networks that supply hearing clinics and professionals worldwide, with risk assessments and sustainability screenings ensuring operational continuity and ethical practices.^[11][12] Holding a leading market share in the global hearing aids sector as of 2025, Demant continues to expand into emerging markets through strategic partnerships and clinic networks. The company adapts to regional regulations, securing FDA approvals for products in the United States and CE marking for compliance in Europe, to maintain seamless market access.^[5][11]

History

Founding and early years

Demant was founded in 1904 by Hans Demant in Hellerup, Denmark, motivated by his desire to assist his wife, Camilla, who suffered from hearing loss. Inspired by Queen Alexandra of England's use of a hearing device during her 1902 coronation, Hans Demant traveled to acquire one of the world's first electronic hearing aids for Camilla, marking the personal origins of the company's mission in hearing healthcare.^[1][13] In its early years, the company focused on importing and distributing hearing aids, securing a distribution contract with the American manufacturer General Acousticon Company to bring carbon-based electric devices to Denmark. These early products relied on carbon transmitters to amplify sound, representing a shift from purely acoustic aids to basic electronic solutions available at the time. Although initial operations were centered on distribution rather than production, this laid the groundwork for Demant's role in making hearing assistance accessible in Scandinavia.^[14][15] In 1940, as in-house manufacturing began under the Oticon brand, the company introduced its first vacuum tube-based hearing aid, the Oticon TA model in 1946, which used valve technology for improved sound processing and marked a significant step toward innovation in amplification.^[16][14] During World War II, Denmark's occupation by Nazi Germany caused severe supply disruptions for imported components, challenging Demant's operations and forcing a reliance on local production capabilities to sustain growth. In a notable act of resistance amid the Danish efforts to protect Jewish citizens, the company hired Heinz Hess, a young Jewish refugee from Germany, in 1943, providing him employment through the lawyer Alfred Levinsohn until international supplies could resume. This period tested the company's resilience but reinforced its commitment to community and continuity in hearing care.^[17][18] Post-war consolidation in the 1950s saw Demant pivot to transistor technology, with Oticon launching the Oticon T3 in 1953—the company's first transistorized hearing aid—which enabled smaller, more efficient designs that transitioned devices from bulky body-worn units to compact headworn models. This innovation, building on family leadership including Hans's son William Demant, solidified Demant's position as a pioneer in practical hearing solutions during the mid-20th century.^[14]

Expansion and rebranding

In the 1960s and 1980s, William Demant Holding pursued international expansion by establishing subsidiaries across Europe and the United States, consolidating its manufacturing and distribution capabilities to support growing global demand for hearing solutions.^[19] This period marked a shift from domestic operations to a broader international footprint, enabling the company to access new markets and scale production. In May 1995, William Demant Holding was listed on the Copenhagen Stock Exchange, providing capital for further growth and marking a key milestone in its corporate evolution.^[20] The 1990s and 2000s saw accelerated growth through strategic acquisitions that strengthened market positions, particularly in diagnostics and the US. In 1999/2000, the company acquired Interacoustics, a leading manufacturer of audiometers, marking its entry into the diagnostics segment and expanding its audiological equipment offerings.^[21] Later, in September 2010, William Demant completed the acquisition of Otix Global, Inc., the parent of Sonic Innovations, for approximately $64 million, significantly boosting its US market share in hearing aids by integrating a strong North American brand and distribution network.^[22] These moves diversified the portfolio beyond core hearing aids into complementary areas like professional audiology tools. Throughout the 2010s, William Demant focused on optimizing its structure amid digital advancements in hearing solutions, including divestitures to streamline operations. In April 2017, Søren Nielsen succeeded Niels Jacobsen as President and CEO, bringing extensive internal experience to guide the company's strategic direction toward integrated hearing health services.^[23] The decade also involved refining its implant business; although full divestment came later, efforts to reposition Oticon Medical began as part of broader portfolio adjustments. In 2015, the acquisition of a controlling stake in Audika Groupe, a major French hearing care retailer, further expanded its European retail presence, adding over 1,000 clinics.^[24] In March 2019, shareholders approved the rebranding from William Demant Holding A/S to Demant A/S, reflecting a strategic shift to emphasize the company's role as a comprehensive hearing healthcare ecosystem encompassing diagnostics, care services, and technology.^[25] This unified identity aimed to better represent its evolution beyond the founding family name, positioning Demant as an innovative leader in global hearing health. Recent developments include the June 2025 agreement to acquire KIND Group, Germany's largest hearing care retailer with around 650 clinics, for €700 million, strengthening Demant's position in the key European market and expanding its clinic network to over 4,500 worldwide.^[26] Concurrently, in October 2025, Demant agreed to divest Oticon Medical to Impilo, a Nordic med-tech investor, for up to DKK 600 million, allowing focus on core hearing care and diagnostics while ensuring continuity for patients.^[27]

Business areas

Hearing Care

Demant's Hearing Care division represents the company's largest business area, focusing on retail operations that deliver personalized hearing solutions to end-users through a global network of clinics. Operating under the Audika Group, it manages over 4,500 hearing care clinics across more than 25 countries, providing accessible services for individuals with hearing loss ranging from mild to severe.^[28][4] Key retail brands include AudioNova in the Netherlands and Scandinavia, HearingLife in North America, Audika in France, and Hidden Hearing in the UK, enabling localized consumer engagement.^[29] The division offers comprehensive services centered on patient-facing care, including personalized hearing assessments to evaluate individual needs, expert fittings of hearing devices, and ongoing aftercare to ensure optimal performance. Post-2020, integration of telehealth capabilities has enhanced accessibility, allowing remote adjustments to hearing aids via platforms like Oticon RemoteCare, which enables real-time fine-tuning without in-person visits.^[30][31] These services are supported by supplies from Demant's Professional Hearing Aids division, ensuring seamless integration of manufactured devices into retail offerings. Emphasis is placed on subscription models for maintenance, providing regular check-ups, repairs, and updates to prolong device longevity and support long-term user satisfaction.^[32][11] In 2025, Hearing Care contributes approximately 50% of Demant's group revenue, driven primarily by direct-to-consumer sales in Europe and North America, with Q3 revenue reaching DKK 2,537 million out of the group's DKK 5,454 million.^[33] The market strategy targets aging populations in developed markets, where rising prevalence of hearing loss fuels demand, and involves partnerships with healthcare providers to facilitate referrals and integrated care pathways.^[34] Annually, the division serves millions of patients, contributing to improved quality of life through these initiatives, as evidenced by over 12 million years of enhanced hearing support generated in prior years.^[35]

Professional Hearing Aids

The Professional Hearing Aids division of Demant focuses on the development, manufacturing, and wholesale distribution of premium hearing devices, primarily supplying audiologists, clinics, and independent hearing care professionals worldwide. This B2B-oriented business area emphasizes innovative solutions that support professional fittings and end-user customization, operating distinctly from direct consumer services. Core activities include designing advanced hearing aids under key brands such as Oticon, Bernafon, Sonic, and Philips, with a commitment to technological leadership in sound processing and connectivity.^[4][11] In 2024, the division generated DKK 12,413 million in revenue, representing a significant portion of Demant's overall operations and reflecting 1% organic growth driven by unit volume increases and market share gains. For 2025, year-to-date external revenue through Q3 reached DKK 7,264 million, with 2% organic growth in the third quarter amid a competitive global market. The division targets supplies to independent professionals and retail chains, achieving strong performance in Europe—particularly France—and North America, where demand for premium devices remains robust. These devices integrate seamlessly with Demant's Hearing Care clinics for professional end-use.^[11][33] Technologically, the division prioritizes BrainHearing, Oticon's proprietary approach to natural sound processing that optimizes brain-friendly audio delivery by preserving sound scenes and reducing listening effort. Devices incorporate wireless connectivity for seamless integration with smartphones and accessories, alongside rechargeable batteries and AI-enhanced features for real-time environmental adaptation. Competitive advantages include AI-driven customization tools that enable precise professional fittings, as seen in products like the Oticon Zeal, launched in October 2025, which uses second-generation AI for advanced sound processing. Annual innovations, such as updates to the Oticon Intent platform in 2025, further emphasize 4D sensor technology for intent-based adjustments, supporting professionals in delivering personalized hearing solutions.^[36][37][38] Demant's global B2B distribution network spans over 130 countries, with strongholds in Scandinavia—leveraging its Danish headquarters—and North America, where it supplies through established channels to ensure broad accessibility for hearing care providers. This network facilitates efficient delivery of premium devices, bolstering the division's position in a market projected to grow through technological advancements and rising awareness of hearing health.^[4][33]

Diagnostics and Audiological Equipment

The Diagnostics and Audiological Equipment division of Demant specializes in developing and manufacturing advanced tools for hearing and balance assessments, primarily targeting healthcare professionals such as audiologists, otolaryngologists, and ENT specialists.^[4] The portfolio includes a range of diagnostic instruments, such as audiometers for pure-tone and speech audiometry, tympanometers for middle ear function evaluation, otoacoustic emission (OAE) systems for screening cochlear health, auditory brainstem response (ABR) devices for objective neural testing, and vestibular assessment tools for balance disorder diagnosis.^[39][40] These products are offered under key brands including Interacoustics, MedRx, MAICO, Amplivox, Grason-Stadler, Audioscan, and Inventis, with Interacoustics providing comprehensive solutions like the Equinox series of diagnostic audiometers and the Titan platform for impedance and OAE testing, while MedRx focuses on compact systems such as the AVANT A2D+ audiometer and ACCUwin software for data analysis.^[4][39][40] These tools are widely applied in clinical settings, including hospitals, audiology clinics, and schools, to facilitate hearing screenings, diagnostic evaluations, and balance assessments for patients across all age groups, from newborns to adults.^[4] Accompanying software solutions, such as Noah compatibility and diagnostic databases, enable efficient data capture, analysis, and reporting, supporting workflows in professional environments.^[39] In 2024, the division contributed DKK 2,465 million in revenue, representing approximately 11% of Demant's total group revenue of DKK 22,419 million, with organic growth of 0% amid a challenging global market.^[11] Innovation within the division emphasizes user-friendly, accessible technologies, including portable devices tailored for resource-limited settings in emerging markets and seamless integration with electronic health record (EHR) systems to streamline clinical documentation.^[41] Notable advancements include Interacoustics' Audible Contrast Threshold (ACT™) test, launched in 2023 for enhanced speech-in-noise assessment, and the Aided Cortical (ACT) test introduced in October 2024 to verify hearing aid fittings in infants, alongside tele-audiology features for remote testing.^[41][42] The division maintains a global footprint, exporting to over 130 countries through direct sales in more than 30 markets and a network of distributors, with primary manufacturing facilities in Denmark and a new production site in Poland to support international demand.^[11][4][43]

Products and innovations

Key product lines

Demant's key product lines span hearing aids, diagnostic tools, accessories, communication aids, and emerging over-the-counter (OTC) solutions, primarily under brands like Oticon and Interacoustics.^[4] In hearing aids, Oticon More, launched in 2021, represents a flagship model featuring AI-enhanced sound processing via a deep neural network trained on 12 million real-life sounds to improve speech understanding in complex environments.^[44][45] Oticon Intent, introduced in 2024, builds on this with neural network-based sound processing and 4D sensor technology, including user-intent sensors that adapt amplification based on the wearer's communication goals and head movements for more natural listening experiences. Oticon Zeal, launched in October 2025, is the world's first completely-in-canal hearing aid with full functionality, incorporating DNN 2.0 for discreet, high-performance sound processing.^[38][46][37] Diagnostic tools include the Affinity Suite, a modular audiometer system from Interacoustics that supports air, bone, and speech audiometry in a user-friendly interface for comprehensive hearing assessments.^[47][48] The Titan device is a portable tympanometer designed for middle ear analysis, including bone conduction testing, with a lightweight build (360 grams) and up to 3.5 hours of battery life for on-the-go diagnostics.^[49][50] Accessories enhance connectivity and usability, such as remote controls like the ConnectLine Remote Control 3.0 for tactile adjustments of hearing aid settings, chargers including the SmartCharger for portable recharging, and apps like Oticon ON (now evolved into Oticon Companion) for smartphone integration to stream audio, control volume, and enable remote fitting.^[51][52][53] Communication aids feature FM systems under the ConnectLine brand, such as wireless microphones that transmit clear audio directly to hearing aids in noisy environments, improving focus during conversations or lectures.^[52][54]

Research and development

Demant allocates a substantial portion of its resources to research and development, with R&D expenses reaching DKK 1,394 million in 2024, representing approximately 6.2% of the company's total revenue of DKK 22,419 million. This investment marked a 14% increase from the previous year and underscores the group's commitment to advancing hearing healthcare technologies, supported by major R&D facilities in Denmark, Poland, and Malaysia, along with smaller sites in other regions.^[11] The company's innovation efforts center on cutting-edge areas such as AI-based signal processing for adaptive sound environments, brain-inspired hearing models via technologies like BrainHearing™, and the development of biocompatible materials to improve device comfort and integration. These initiatives leverage deep neural networks to enhance speech clarity and reduce listening fatigue, drawing from cognitive hearing science and personalized audiology principles.^[11] Demant fosters a robust ecosystem of collaborations to drive technological progress, partnering with academic institutions like the Technical University of Denmark for foundational research in audiology and with technology leaders such as Google to integrate seamless connectivity features, including Fast Pair for Android devices, into hearing solutions. These partnerships, along with engagements in EU-funded projects like EASYLI and alliances with industrial and academic entities across Europe, facilitate interdisciplinary advancements in hearing health.^[55][56][11] Protecting its innovations, Demant maintains a growing intellectual property portfolio exceeding 3,500 patents and designs, with a significant focus on audiology-related advancements as of 2024. Looking ahead, the group is prioritizing the integration of biological innovations, such as auditory neuronal cell transplants through its collaboration with Lineage Cell Therapeutics on the ReSonance™ program, to enable personalized prevention and treatment of hearing loss. Additionally, sustainability remains a core pillar, with ongoing projects aimed at improving device recyclability and product circularity by eliminating substances like PFAS and enhancing material reuse.^[11][57][58]

Corporate affairs

Leadership and governance

Demant is led by President and Chief Executive Officer Søren Nielsen, who has held the position since April 2017.^[59] Nielsen, who joined the company in 1995, brings extensive experience in industrial management, holding a Master of Science in Industrial Management and Product Development from the Technical University of Denmark.^[59] Prior to his CEO role, he served as Chief Operating Officer and Deputy CEO from 2015, and as President of Oticon since 2008, overseeing the integration of hearing aid brands and strategic acquisitions within Demant.^[59] The Executive Leadership Team comprises four members responsible for daily operations across Demant's business areas.^[60] Key figures include René Schneider, Chief Financial Officer and President of Group Services since joining the executive board, and Niels Wagner, President of Hearing Care, who drives expansion in clinical and retail hearing solutions.^[60] Completing the team is Anne-Karen Hunt as President of Diagnostics, focusing on audiological equipment and services.^[60] Demant's Board of Directors consists of seven members, including four elected by shareholders for one-year terms and three elected by employees for four-year terms, with expertise spanning healthcare, finance, international leadership, economics, and digitalization.^[61] The board is chaired by Niels B. Christiansen, who joined in 2008 and assumed the chairmanship in 2017, with re-election in 2025 for a one-year term.^[62] Vice Chair Niels Jacobsen, re-elected in 2025, supports oversight in audit and other areas.^[63] Christiansen announced in October 2025 that he will not seek re-election following the annual general meeting on March 5, 2026, prompting the board to initiate a search for a new chair.^[64] Governance at Demant follows a two-tier structure compliant with the Danish Financial Statements Act and Nasdaq Copenhagen rules, including annual board evaluations and external reviews every three years.^[61] The board operates four specialized committees: Audit, Nomination, and Remuneration, with IT security functions integrated into the Audit Committee as of late 2024.^[61] Diversity is prioritized, achieving 40% women among board members and targeting 35% women in top management by 2030.^[61] Ethical standards are upheld through the Demant Group Code of Conduct, which mandates compliance with anti-corruption laws, competition regulations, and medical device standards such as ISO 10993 for biological safety and EU substance regulations.^[65] This framework, supported by mandatory training and a confidential whistleblower hotline, ensures adherence to global human rights and product quality norms across operations.^[65]

Financial performance

In 2024, Demant reported revenue of DKK 22.4 billion, marking a 3.8% increase from the previous year.^[5] This growth reflected ongoing recovery from the COVID-19 pandemic, which had disrupted the hearing healthcare sector in 2020 and 2021, with subsequent years showing steady revenue expansion driven by demand rebound and strategic expansions.^[66] In the third quarter of 2025, revenue reached DKK 5.45 billion, achieving 3% organic growth amid persistent market challenges, including a slowdown in the global hearing aid market.^[33] Profitability remained robust, with an EBIT margin of 19.6% in 2024, supported by operational efficiencies and product innovations.^[5] For full-year 2025, analyst consensus estimates an EBIT margin of around 17.6%, with projected EBIT between DKK 3.9 billion and DKK 4.3 billion, potentially at the lower end due to margin pressures from product mix and currency effects.^[67] As of November 2025, the company's market capitalization was approximately DKK 47 billion.^[68] Key trends include growth in the diagnostics segment offsetting softer performance in hearing aids; for instance, diagnostics maintained market leadership with stable contributions despite a -1% organic growth in Q3 2025, while hearing aids achieved 2% growth amid unit market share gains.^[33] Demant has consistently returned capital to shareholders through share buybacks, distributing DKK 2.3 billion in 2024.^[69] Analyst target prices averaged DKK 279 as of November 2025, indicating potential upside.^[70] Investor highlights from Q3 2025 included the revenue figure slightly missing consensus expectations of DKK 5.48 billion, yet the stock surged 4.5% following the release, buoyed by the reaffirmed positive outlook for organic growth of 1-3% for the year.^[71]

Sustainability efforts

Environmental initiatives

Demant has implemented initiatives to reduce plastic usage in its production processes, eliminating 51 tonnes of virgin plastic annually through the adoption of recycled materials and redesigns such as lower-density moulding tools and the use of 100% granulated plastic scrap for components like handles.^[72] This effort, focused on hearing aid filter containers, achieved a 53% reduction in plastic consumption while preserving product quality and functionality.^[72] The company has set ambitious goals for its carbon footprint, committing to net-zero emissions across its value chain by 2050, with science-based targets approved by the Science Based Targets initiative (SBTi) in 2023.^[58] To progress toward this, Demant aims for a 46% absolute reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2030 from a 2019 baseline, alongside a similar reduction in Scope 3 emissions.^[73] In 2024, the company reported an 8% reduction in Scope 1 and 2 emissions compared to the 2019 baseline, reflecting ongoing efforts in energy efficiency and renewable sourcing.^[58] Sustainable manufacturing practices at Demant include the use of renewable energy in its Danish facilities, with the headquarters in Middelfart achieving ISO 14001 certification to support environmental management.^[35] The company promotes a circular economy approach by incorporating recycled polyethylene and 98% recycled cardboard in packaging, and designing hearing aids and diagnostics devices for high recyclability, with recycled plastics in use since 2014.^[58] In its supply chain, Demant conducts sustainability audits to ensure ethical sourcing, including assessments of packaging suppliers in regions like China to verify compliance with environmental standards.^[73] Additionally, the company has shifted toward more sustainable packaging options, such as plastic-free charger packaging that reduces the carbon footprint by 80% per unit through biodegradable and recyclable alternatives.^[58] Demant maintains ISO 14001 environmental management system compliance at major sites, including its Danish headquarters, to systematically address environmental impacts across operations.^[35] These initiatives tie briefly to research and development efforts for green technologies in product design.^[74]

Social responsibility

Demant demonstrates a strong commitment to health equity by expanding access to hearing care for underserved populations through targeted donation programs and global awareness efforts. The Oticon Hearing Foundation, a non-profit arm of the company, supports humanitarian missions that deliver sustainable hearing solutions to low-income and in-need communities worldwide, including the provision of donated hearing aids and educational resources.^[75] In 2024, Demant conducted 1.5 million free hearing tests as part of its International Campaign for Better Hearing, focusing on early detection for vulnerable groups such as the elderly and those in remote areas.^[11] Additionally, the company participates in World Hearing Day initiatives to raise global awareness of hearing loss, aligning with broader industry advocacy through organizations like the European Hearing Instrument Manufacturers Association (EHIMA) and Hearing Industries Association (HIA) to influence policy and reduce stigma.^[76] On the employee front, Demant prioritizes welfare and inclusion through its Diversity, Equity, and Inclusion (DE&I) policy, which fosters a supportive workplace culture. The company has made progress toward gender balance among managers, contributing to a diverse workforce.^[2] To promote equity, Demant maintains active Employee Resource Groups (ERGs) in regions like Denmark and the United States, providing platforms for employees to address themes such as gender, cultural identity, and professional development.^[77] While specific mental health programs are integrated into broader well-being efforts, the company's employee engagement score reached 4.13 out of 5 in 2024, reflecting ongoing investments in training and support to enhance inclusion and retention, with a turnover rate declining to 20%.^[11] Philanthropic activities further underscore Demant's social contributions, particularly via the William Demant Foundation and Oticon Hearing Foundation. In 2024, the William Demant Foundation supported PhD projects in audiology and hearing research within the Demant Group, advancing innovation in hearing health.^[11] The Oticon Hearing Foundation extended this impact by granting $30,000 in scholarships for the 2025-2026 academic year to audiology graduate students through the American Academy of Audiology Foundation, supporting future professionals in serving underserved communities.^[78] Complementing these efforts, Demant operates annual community clinics and screening programs in low-income areas, reaching over 10.9 million lives improved through hearing care in 2024 alone.^[11] Ethical practices form a cornerstone of Demant's social responsibility, especially in marketing and compliance. Following a 2018 Australian Federal Court ruling that fined Oticon and Sonic $2.5 million for misleading advertisements targeting pensioners—claiming free or heavily subsidized hearing aids that were not available—Demant implemented reforms to ensure transparent and accurate promotional materials across its operations.^[79] These changes include mandatory Code of Conduct training, completed by 76% of high-risk employees in 2024, and a robust whistleblower system that handled 11 reports without confirming any corruption incidents.^[11] Overall, these initiatives contributed to serving more than 1.5 million patients through free screenings in 2024, demonstrating measurable progress in health equity and community support.^[11]