Sonova

Sonova Holding AG (Phonak Holding AG before 1 August 2007) is an internationally active Swiss group of companies headquartered in Stäfa that specializes in hearing care (hearing instruments, cochlear implants, wireless communication). The Sonova group operates through its core business brands Phonak, Unitron, Advanced Bionics, AudioNova and the consumer product division of Sennheiser. It is one of the largest providers in the sector worldwide. The group and its brands hold 24% of the global hearing aid market in sales.[2] As of 11 September 2022, Sonova was a component of the Swiss Market Index.[3]

History

The group traces its roots back to the Zürich-based AG für Elektroakustik, which was founded in 1947 with the participation of Ernst Rihs who acquired a majority shareholding in 1965, renaming the company Phonak AG in 1977.[4] His two sons, Hans-Ueli and Andy Rihs, also went on to join the firm, along with Beda Diethelm; after Ernst Rihs' death, the two sons took over his shares while Beda Diethelm became a shareholder with equal rights.

Brands

Sonova operates through its following core business brands:[12]

AudioNova

AudioNova International B.V (AudioNova) is a Dutch-based audiological solution provider and one of Europe's largest hearing aid retailers, operating over 2,500 stores in 10 countries. In May 2016, Sonova purchased AudioNova for €830M from Curacao-based investment company HAL Holding N.V,[13][14][15][16] completing the acquisition in September of that year. In the United States, AudioNova operates over 436 clinics, offering both hearing aids and audiology services.[17]

Phonak

Phonak manufactures a wide range of digital hearing aids and integrated wireless communication systems.[18] After the merger of Advanced Bionics into Sonova, Phonak started developing wireless technology for Advanced Bionics cochlear implants; notably the Roger receivers that connect to cochlear implant speech processors.[19][20] In 2016, Phonak launched their first rechargeable hearing aid device.[21]

Unitron

Unitron is a hearing aid manufacturer founded in 1964 in Newfoundland, Canada. Today, it operates in more than 70 countries and is headquartered in Kitchener, Ontario, Canada.[22][23]

Advanced Bionics

Advanced Bionics was founded in 1993 and has been a subsidiary of the Sonova group since 2009. Advanced Bionics develops cochlear implant technology designed to help children and adults with profound hearing loss receive greater access to sound.[24]

Upon the acquisition by Sonova, Advanced Bionics started integrating Phonak technology into their speech processors, starting with the Naída series.[25] Along with sound processors, the company utilizes Phonak technology for bluetooth streaming, Easycall,[26] and FM systems.[27]

As of 2016, Advanced Bionics' primary competitors were MED-EL and Cochlear Limited in the cochlear implant market, in which those two companies held around 67% of the market; as percent of the market share Advanced Bionics (20%) holds less than Cochlear Limited

Implant recalls

HiRes90k injuries

In November 2010, Advanced Bionics recalled a batch of its HiRes 90K implants after many recipients, including children experienced painful malfunctions that caused electric shocks, convulsing, and vomiting.[33][34] In Sadler v. Advanced Bionics, the company was found to have been negligent and was forced to pay punitive damages as well as for the medical care needed by the victim of the faulty device,[35] but the company announced it would appeal on the grounds of the punitive damages being too high.[36] Years before patients had experienced such drastic device failures, the company had been repeatedly warned of problems with the HiRes90k since 2004. Over 4000 devices were recalled, of which 1000 had failed.[34]

HiRes90k injuries

Ultra 3D quality issue

In March 2020, Advanced bionics recalled a batch of its Ultra 3D implants due to poor performance.[37]

Sennheiser (Licensed)

Sennheiser Consumer Business is a consumer electronics manufacturer specializing in audio. Sennheiser had announced that they are looking to sell their consumer business to a willing buyer to focus on the Professional business. It was announced on 7 May 2021 that Sonova would be acquiring the business for an undisclosed amount. The acquisition had been completed in early 2022. The brand has become part of Sonova's Consumer Hearing department. It is estimated that about 600 employees had been involved in the transition.[38][39][40]

type	Aktiengesellschaft
traded as	swx: SOON
isin	isin: CH1012549785
predecessor	Phonak AG
hq location	Laubisrütistrasse 28
hq location city	8712 Stäfa, canton of Zürich
hq location country	Switzerland
key people	Gilbert Achermann, Chairman Eric Bernard, CEO
industry	Medical devices
products	Hearing instruments
brands	Phonak Unitron Advanced Bionics AudioNova Group Sennheiser (Consumer Division)
revenue	CHF 3,627 million (2024)‡R1R‡
num employees	17,990 ‡R1R‡
num employees year	2024
website	www.sonova.com
founded	1947 (company) 1985 (holding)

History

Company

Brands

AudioNova

Phonak

Unitron

Advanced Bionics

Implant recalls

HiRes90k injuries

HiRes90k injuries

Ultra 3D quality issue

Sennheiser (Licensed)

References

Implant recalls

HiRes90k injuries

Ultra 3D quality issue

HiRes90k injuries

Ultra 3D quality issue

Ultra 3D quality issue