The Australian Competition and Consumer Commission (ACCC) has greenlit Cochlear Limited’s (ASX: COH) purchase of Oticon Medical A/S' cochlear implants arm from parent company Demant A/S. Initially including bone conduction solutions, the revised deal excludes them, allaying ACCC's competition concerns. Oticon Medical's limited market share and unlikely future competition in cochlear implants further eased ACCC's approval.
Previously flagged issues with global acquisition led to the revised transaction, with Demant retaining bone conduction solutions. Close coordination occurred with UK regulators and the European Commission. Cochlear implants, electronic devices for hearing loss, constitute Oticon Medical's business. While UK's competition watchdog partly barred the original merger, EU's approval followed. The ACCC's review resumed in March 2024. Pending is the UK's decision on the revised deal's execution.
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