Only one year after the transfer of the Siemens hearing aid business to Sivantos Group, the company celebrated a record first year in both revenue and earnings while introducing Signia, its new premium brand of hearing aids. With a strategy focused on profitable growth, Sivantos is creating a new stimulus with comprehensive initiatives to achieve the industry-leading market position.
A record first year
In revenue, the Sivantos Group closed the fiscal year 2015 as the most successful in the company’s history with organic growth of over ten percent, outperforming the market. The business operations of the former Siemens AG hearing aid division have been incorporated into the Sivantos Group since early 2015.
Sivantos introduced the Signia brand of hearing aids
For a sustainable and independent future, Sivantos is introducing Signia, the company’s new premium hearing aid brand. In the mid-term, Signia hearing aids will be co-branded with Siemens as the company prepares for complete brand autonomy over the next several years. Launched as early as spring 2016, the new hearing aids will have both brand names, Signia on one side of the hearing aid and Siemens on the other.
”With the introduction of Signia, we build our new brand on a solid foundation, co-branding with Siemens over the next few years, while we develop a brand that appeals to a younger target group, which will fuel our growth. We see it as a well-thought-out strategy and a natural evolution” said Dr. Roger Radke, CEO of the Sivantos Group.
With Signia, Sivantos plans to accelerate efforts to grow their hearing aid market share by addressing a younger and broader audience. This includes building a more emotional, agile and human brand while at the same time maintaining the Siemens values of innovation and quality. The two brands will be used in products, packaging, as well as marketing and advertising.
On track to becoming the industry leader
The Sivantos Group’s stated goal is to gain a leading position in the hearing aid industry. To achieve this objective and keep on the growth trajectory the company will continue to invest in its business. Sivantos announced increased spending on research and development in the current year by another 20 percent to fuel the company’s high innovation power.
Furthermore, Sivantos will continue to develop its online presence to exploit the huge potential of under-served hearing-impaired people. With the acquisition of audibene, the world’s biggest online platform for hearing case management, Sivantos has gained a strategic advantage. Lead generation and customer conversion in the Baby Boomer segment is creating value for all distribution channels.