A PYMNTS Company

UK Deepens Probe Into Cochlear’s Takeover Of Oticon Medical

 |  December 20, 2022

UK’s competition regulator will refer the Australian hearing device maker Cochlear’s acquisition of Copenhagen-based Demant’s hearing implants business Oticon Medical for an in-depth investigation.

UK’s Competition and Markets Authority (CMA) said on Tuesday it would refer the 850 million Danish crowns ($121.14 million) deal to a phase 2 investigation as it could threaten competition.

Read more: EU To Probe Cochlear’s Oticon Bid

The deal is under investigation by the European Union (EU) antitrust regulators, who warned in December that the merger is a significant threat to the European market.

The CMA, which had given the companies until Dec. 13 to allay its concerns about the supply of bone conduction devices in Britain, added the companies did not offer any undertakings.