Cochlear, Australia, 18
$468.61 mn
CEO Dr Christopher G Roberts
Business Manufacture and sale of cochlear ear implant systems
Cochlear is one of the world’s most innovative hearing aid companies. In 2008, it had sales of $468.61 million by selling over 18,000 implants retaining a market share of 70 percent. Earlier last year, its business suffered when the FDA barred the importation of Baha and Vistafix product lines of the Anchored Solutions division.
The alert was later lifted in October 2008. Europe and the US regions contribute over 80 percent of its sales while the remaining comes from Asia Pacific region. The European market also grew in 2008 due to the increased revenue from several established direct markets as well as the exciting new developing markets in the Middle East
and Eastern Europe. It also made progress in expanding its reach into selected key markets of Europe by setting up direct operation in Turkey.
Cochlear made its presence felt even stronger with the commencement of an office in South Korean capital of Seoul with 12 people onboard.
It also started a branch in Singapore and a liaison office in Mumbai, India. Cochlear invests almost 10 percent annually to research and develop newer hearing aids. Its main competitor is Siemens of Germany and Denmark’s Widex— both of whom are known for investing huge money into R&D.
The current Asia Pacific portfolio of solutions covering both cochlear and bone conduction implant systems will be further strengthened this year with the commercial introduction of Hybrid–a unique solution tailored to meet the specific needs of those with high frequency hearing loss.
Further projects are also in the developmental pipeline including a direct acoustic cochlear stimulation system to provide an effective solution for people with a severeto- profound mixed hearing loss and a totally implantable cochlear implant system.
During 2008 Cochlear introduced a number of important new innovations to market. The Nucleus Freedom product platform was further expanded through the introduction
of the Freedom sound processor for Cochlear’s earlier N22 implant recipients. In addition, the Freedom sound processor was made available for recipients of Cochlear’s specialist Auditory Brainstem Implant (ABI) and Double Electrode Array recipients.
Cochlear also released the Custom Sound 2.0 programming software in all major markets in 2008. It provides recipients easier access to the pre-processing of sound and is also aimed at simplifying programming for the audiologist. It has been well received in the market.
Besides advancing cochlear implants and bone conduction implants, it is pushing the systems that preserve residual hearing as well as a direct acoustic cochlear stimulator. It is expanding the direct recipient services in key countries such as the US.
HIGHLIGHTS
Established manufacturing presence in the US for certain Baha items
Released the Custom Sound 2.0 programming software Highlights
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