WSA welcomes ATHOS KG as a new shareholder and receives new investment to support its long-term development

Lynge, Denmark – 11 April 2025 – WS Audiology (WSA), a leading pure play hearing health care group, today announced ATHOS KG as a new minority shareholder, as well as an equity capital injection of EUR c. 590 million in total from its existing and new shareholders to further support the company’s successful growth trajectory and long-term strategic ambitions.

WSA welcomes ATHOS, a German healthcare focused single family office, as a new shareholder alongside T&W Medical, EQT, and the Lundbeck Foundation, which together continue to exercise joint control of WSA in an unchanged governance set-up.

Lars Rasmussen, Chair of WSA, said:

I am pleased by the strong commitment of WSA’s shareholders to the company’s continued growth and long-term development. The owners have decided to strengthen WSA’s financial foundation by injecting equity, which will further bring down WSA’s net leverage. At the same time, I am pleased to welcome ATHOS as a shareholder of WSA. With T&W Medical, EQT, the Lundbeck foundation and ATHOS, WSA has a strong ownership, committed to supporting the company’s strategic direction and success.

In the financial year 2023/2024 WSA delivered organic revenue growth of 10% to EUR 2,637 million and EBITDA margin improvement in line with guidance.

Jan Mäkelä, President & CEO of WSA, said:

“In recent years, WSA has delivered solid revenue growth and margin improvement. WSA is the only pure play hearing aid company. With our two complementary brand platforms, Widex and Signia, we are innovating to address two of the most important needs of people with hearing loss, speech understanding in group conversations in noisy environments and natural sound. I’m pleased with the commitment of our owners and I’m confident that we will continue to deliver profitable growth for the benefit of our shareholders.”

No further financial details are disclosed.

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About WS Audiology

WS Audiology (WSA) is a leading global pure-play hearing healthcare group, pioneering innovative technologies for over 140 years, helping millions of people with hearing loss regain their hearing, engage in meaningful conversations, and participate fully in society. WSA operates in over 130 markets and employs more than 12,500 people across our innovative brand platforms, Widex and Signia, and a global network of hearing care professionals and consumer-facing businesses. WSA is privately owned by the Tøpholm and Westermann families & the Lundbeck Foundation (51%), and EQT & ATHOS KG (49%).

About T&W Medical

T&W Medical is a private holding and investment company jointly owned by the Tøpholm and Westermann families. The collaboration between the families began in 1956 with the founding of the hearing aid company Tøpholm & Westermann, later known as Widex. T&W Medical owns and invests in high technology companies within MedTech and life science that improve the quality of life for millions of people with health challenges such as hearing loss and epilepsy, including WS Audiology Group, T&W Holding, UNEEG medical, T&W Engineering and other group companies. Please visit www.twmedical.com

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.com Follow EQT on LinkedIn, X, YouTube and Instagram

About the Lundbeck Foundation

The Lundbeck Foundation is an enterprise foundation encompassing a comprehensive range of enterprise and philanthropic activities – all united by its strong purpose, ‘Bringing Discoveries to Lives’. The Foundation is the long-term and engaged owner of several international healthcare companies – Lundbeck, Falck, ALK, Ferrosan Medical Devices, Ellab and WS Audiology – and an active investor in business, science and people through its commercial investments in the financial markets, in biotech companies based on Danish research, and through philanthropic grants to science talents and programmes in Danish universities. By 2030, the Foundation aims to increase its average annual grants to at least DKK 1bn primarily focusing on the brain – including the world’s largest brain research prize, The Brain Prize. To read more, please visit Lundbeckfonden.com

About ATHOS

ATHOS KG is a Munich based single family office. ATHOS with its heritage in healthcare and life sciences invests in teams with exceptional science expertise and technology-driven companies with an entrepreneurial and value-based approach.