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OTC hearing aids company wins million-dollar contract: Increases pressure on the esablished players

Australian hearing aids group Nuheara recently won a large order from the British health services. Analyst anticipates a significant shift in the approach to hearing device sales and more challenges for established companies like William Demant and GN Hearing.

Foto: GN Store Nord

There was a great stir when FDA last year approved electronics group Bose's new hearing device, which can be regulated by the users themselves.

The share prices of William Demant and GN Hearing got a good beating and declined by more than 10 percent. Moreover, the approval of Bose's device boded an earlier-than-expected entry of "over the counter" (OTC) hearing aids to the US market. OTC products will be sold without prescription and without audiologists or other health professionals assisting in adjustment and programing.

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