Shares of three large hearing aid companies—GN Store Nord A/S, William Demant Holding A/S, and Sonova Holding AG—dropped significantly on Monday, according to an article on Bloomberg. This drop was attributed to the FDA’s de nova premarket clearance of the Bose Hearing Aid, a self-fit device that will not require assistance from a hearing care provider.
GN Store’s and William Demant’s shares dropped by around 13%, and Sonova’s fell by as much as 10%, according to the Bloomberg report, underscoring investor’s concerns about the impact of over-the-counter (OTC) hearing devices on other hearing companies.
To read the story in its entirety on the Bloomberg website, please click here.
For an in-depth analysis of the potential impact of the FDA’s approval of the Bose Hearing Aid, click here to read the article on Hearing Review.
Source: Bloomberg
'Bloomberg' Reports Drop in Shares of Three Large Hearing Aid Companies
Don’t forget, if these are called hearing aids they must follow state regulations for dispensing. Her in CA they must be dispensed by a licensed provider.