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Siemens to sell Siemens Audiology Solutions

Staff writer |
Siemens is selling Siemens Audiology Solutions to the investment company EQT and Germany's Strüngmann family of entrepreneurs as co-investor for €2.15 billion plus an earn-out component.

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Due to the very attractive offer made by the two investors, Siemens has decided not to further pursue preparations for the public listing it announced in May.

"In the past years Siemens Healthcare has invested significantly in its audiology business. Both EQT with the Wallenberg family as anchor investor and the Strüngmann family have outstanding reputations and extensive experience in the healthcare sector.

Not only is the transaction excellent from a financial perspective; we're also convinced that both investors have a clear growth strategy for further developing the hearing aid business over the long term," said Hermann Requardt, CEO of Siemens Healthcare and member of the Managing Board of Siemens AG.

Siemens will remain invested in the hearing aid business with preferred equity of €200 million and benefit from future business successes. In addition, Siemens will have a seat on the board of the buyer group. Under the terms of the agreement, the new owners will also be allowed to continue using the Siemens product brand for the hearing aid business over the medium term.

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