🇩🇰 NIB to fund Demant’s hearing healthcare R&D investments

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Image: Demant

NIB and Danish hearing healthcare company Demant A/S have agreed on a EUR 100 million (approx. DKK 745 million) loan to fund part of the company’s research and development (R&D) investments in 2024 and 2025.

NIB’s loan will co-finance part of Demant’s R&D efforts during 2024 and 2025. The company’s R&D efforts entail developing new products and solutions for hearing healthcare, including the continued development of chipsets and audio processing algorithms, using AI and deep neural networks.

These R&D initiatives and products are expected to significantly improve products and solutions over time which will lead to an improvement in the quality of life for people living with hearing loss.  The improved quality of life enables them to participate in social and professional environments, from where they might otherwise be excluded.

This loan project is a continuation of a decade-long cooperation between NIB and Demant. NIB has previously singed six loans since 2015 with the company to finance their R&D programmes.

“NIB values its long-standing partnership with Demant. This new loan agreement signifies our continued confidence in their ability to drive progress in hearing healthcare and create positive impact in the Nordic region and beyond,” says André Küüsvek, NIB President & CEO.

Demant is a global leading hearing healthcare company headquartered in Denmark. The William Demant Foundation holds the majority of shares in Demant A/S, which is listed on Nasdaq Copenhagen. Demant’s offering spans hearing aids, hearing care, diagnostic equipment and services.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Seppo Halttunen, Senior Banker, Connectivity & Consumer at +358 10 618 0411, [email protected]

Anita Algus, Communications, at +358 10 618 0524, [email protected]

Originally published on 18 December by Nordic Investment Bank.

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