Sivantos and Widex successfully completed a merger, forming the new WS Audiology. The merger has created a strong player with combined revenues of more than EUR 1.7 billion, over 10,000 employees, and one of the strongest R&D teams in the industry. Sivantos and Widex have a combined experience of more than 170 years in the more than 125 countries.
WS Audiology, with headquarters in Lynge, Denmark and Singapore, will be led by a management team with a balanced representation from both Sivantos and Widex. Jørgen Jensen, until now CEO of Widex, will head the new company as Chief Executive Officer. Before joining Widex in 2013, he spent 15 years at Nilfisk-Advance, the last eight of which as President and CEO. He previously worked for McKinsey.
Wolfgang Ollig, Sivantos' current CFO, will continue in the same position at the new company. Prior to joining Sivantos in 2016, he held the role of CFO at Hella, one of the world's leading automotive suppliers, for 10 years. Like Jørgen Jensen, he started his career at McKinsey.
Thomas Ebeling, Chairman of the Board of Directors of Sivantos, has been appointed Chairman of the Board of Directors of WS Audiology. Jan Tøpholm, up to now Chairman of Widex, will take on the role as Deputy Chairman. Ignacio Martinez, to date CEO of Sivantos, will join the Board of Directors, and Henrik Bender, until now CFO of Widex, will lead the integration process.
"Today marks the beginning of a great new journey. Two pioneers joining forces with one clear ambition: to expand access to hearing aids and care to serve the millions of people with hearing needs across the world. This merger gives WS Audiology the scale and innovation capabilities to deliver on this goal. We are setting out to excel with best-in-class products and accelerate our shared growth across all our brands. The future holds great opportunities and together, as one team, we will be able to seize the momentum we have gained," said Jensen, CEO of WS Audiology.
"Both Widex and Sivantos have been at the forefront of innovation in the industry. Together, WS Audiology has abundant resources to create excellent products and further accelerate innovation with creative, high-tech and easy-to-use products and services, broadening the choice for hearing aid users," said Ebeling, Chairman of the Board of Directors of WS Audiology.
"As WS Audiology takes shape today, we are one big step closer to becoming the clear innovation leader, developing the best possible hearing aids to improve the life of those with hearing needs. We are united by our proud heritage, our long history as 'first movers', and our insatiable curiosity that drives our innovation and technology," said Tøpholm, Deputy Chairman of the Board of Directors of WS Audiology.
WS Audiology will offer a diverse portfolio of technologically advanced hearing aid products and services, with its brands Signia, Widex, Rexton, Audio Service and others. Going forward, WS Audiology plans to accelerate its growth, strengthen its market penetration, and enhance efficiencies to enable additional investments in R&D and the supply chain.