NIB helps finance Danish hearing healthcare technology

NIB and the Danish hearing healthcare company Demant A/S have signed a new 7-year loan agreement of DKK 750 million (EUR 100.80 million) to help finance the company’s audiological devices and technology research investments.

Demant has a very significant and comprehensive R&D programme, and a very large portion of this is carried out in close cooperation with several universities, research centers and companies in Denmark.

“Demant’s investments into R&D will have a positive effect on the quality of life for people suffering from hearing disabilities, enabling them to fully participate in social and work life from which they otherwise would have been excluded,” says André Küüsvek, NIB President & CEO.

Since 2015, NIB has been an important financier of Demant’s Research and Development programme and concluded three loans with the company for that purpose, in total amounting to EUR 194 million. In addition, NIB concluded a Covid response loan with Demant in 2020, amounting to EUR 60 million.

Demant A/S is an internationally leading company in the field of modern hearing solutions. The company is majority-owned by the William Demant Foundation. The group offers solutions and services to help people connect and communicate with the world around them, and focuses on four business activities: Hearing Aids, Hearing Care, Diagnostics and Communication.

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
Vagn Lundhøj, Senior Banker, +358 10 618 0370, Vagn.Lundhoj@nib.int

Arild Moen, Associate Director, Communications, at +358 10 618 0496, arild.moen@nib.int