Competition watchdog sniffs at Cochlear-Oticon acquisition
The management at Cochlear (ASX: COH) are hoping to add an extra 75,000 hearing implant recipients to their books worldwide through the $170 million acquisition of Oticon Medical, but Australia's competition watchdog may have other ideas.
The Australian Competition and Consumer Commission (ACCC) has today raised preliminary competition concerns about the proposed deal, noting the companies are two of a few globally that manufacture and supply devices used to treat more advanced hearing loss that typically cannot be managed by hearing aids.
In Australia, Cochlear and Oticon Medical are two of only three suppliers of non-surgical bone conduction and bone anchored devices, and two of only four suppliers of cochlear implants.
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