Cochlear Limited (AU:COH) has released an update.
The Australian Competition and Consumer Commission (ACCC) has given the green light to Cochlear Limited’s acquisition of the cochlear implants division of Oticon Medical, after initial concerns led to the exclusion of Oticon’s bone conduction solutions business from the deal. This move is anticipated to maintain market competition, as Oticon Medical was not a significant competitor in the cochlear implant market in Australia and is unlikely to become one in the future. The approval follows a global regulatory review, including the EU and UK, ensuring Cochlear’s market position does not stifle innovation or lead to increased prices.
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