EIB supports research and development of new wireless hearing devices by William Demant

Jun 2 2015

The European Investment Bank (EIB) is supporting the development of new wireless hearing devices and research into more effective acoustic implants by global leader William Demant Holding A/S through a EUR 110 million loan. This new backing from Europe’s long-term lending institution will help the company to step up the development of innovative low power radio technology solutions essential for even better devices that can improve the quality of life for millions of hard-of-hearing people.

William Demant’s new research and development investment is expected to enable around 500 patent applications. The EIB-backed investment will be carried out by highly skilled specialists in Denmark France and Poland. William Demant cooperates closely with universities and research centres across Europe in its research activities, which help to improve the understanding of cutting-edge technologies around the world. The new innovation activities will build on the company’s established leadership and use the latest low power radio technologies and highly advanced and effective digital signal processing techniques to develop more effective hearing implants and instruments. This will help the specialised Danish firm to maintain its strong position in a highly competitive market.

Jonathan Taylor, EIB Vice-President responsible for lending in Denmark, stated:

Supporting research, development and innovation across the health sector is a key priority for the European Investment Bank, so we are proud to support William Demant’s development of next generation acoustic hearing devices. By enhancing Europe’s position as a major technology supplier and supporting skilled employment opportunities, this project strengthens Europe’s global competitiveness in an area that makes a real difference to the lives of hard-of-hearing people.

Niels Jacobsen, President and CEO of William Demant, commented:

This EIB loan will facilitate our keen effort to make even better use of basic as well as applied research in our endeavour to create cutting-edge solutions within the R&D-intensive and highly specialised hearing healthcare industry – an industry still dominated by European players.

By developing better hearing instruments this project will enable people suffering from hearing disabilities to participate more fully in social and business life from which they would otherwise be excluded. It will also make their life easier by enabling smartphones to control hearing devices. This should contribute to removing the stigma of hearing aids.

Over last five years, the EIB has provided around EUR 10 billion for healthcare investment. Europe’s long-term lending institution is committed to promoting projects in this area both by supporting the modernisation and development of hospitals and medical centres and by boosting research, development and innovation in medical technology, biotechnology and the pharmaceutical industry. These projects improve health by increasing innovation and delivering better healthcare.