GovWire

Cochlear / Oticon merger inquiry

Competition Markets Authority

March 20
10:21 2023

Phase 2

Administrative timetable

Referral date: 20 December 2022

Statutory deadline: 5 June 2023

Contact

Cochlear.Oticon@cma.gov.uk

Responses to the issues statement

Issues statement

20 January 2023: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm, 3 February 2023.

Inquiry group appointed

21 December 2022: The CMA has appointed the inquiry group.

Kip Meek (Chair), Anne Fletcher, Keith Richards and David Thomas.

Terms of reference

20 December 2022: The CMA has referred the anticipated acquisition by Cochlear Limited of the hearing implants business of Demant A/S, known as Oticon Medical, for an in-depth investigation.

Statutory timetable

Phase 1 Action
6 December 2022 Phase 1 decision announced
14 November 2022 Initial enforcement order
11 October 2022 to 25 October 2022 Invitation to comment
11 October 2022 Launch of merger inquiry

Phase 1

Reference decision

20 December 2022: The CMA has referred the anticipated acquisition by Cochlear Limited of the hearing implants business of Demant A/S, known as Oticon Medical, for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Reference unless undertakings accepted

6 December 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Initial enforcement order

14 November 2022: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Demant A/S and its Oticon Medical subsidiaries, in relation to the anticipated acquisition by Cochlear Limited of the hearing implants business of Demant A/S, known as Oticon Medical.

Amendments/consents granted:

Launch merger inquiry

11 October 2022: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: Now closed

11 October 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2

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