KUALA LUMPUR: Demant, a hearing healthcare and audio technology group listed on Nasdaq Copenhagen in Denmark, has opened its first technology hub outside Europe in Kuala Lumpur to support its growth.
The hearing healthcare market is currently estimated at US$22bil (RM102bil), with an average growth rate of 4% per annum, the company said in a statement.
“Kuala Lumpur will be our biggest diagnostics hub outside Europe, housing 65% of our global team of engineers and specialists, who will take the lead in developing software solutions incorporating the latest technologies including in artificial technology,” chief information officer Christian Pedersen said.
Demant has two other research and development (R&D) centres in Europe: one in Copenhagen and another in Warsaw, Poland.
R&D is a key pillar in Demant and helps underpin its innovative solutions, it said.
The company said its Kuala Lumpur technology hub will serve markets worldwide with a focus on Asia, especially in North Asia.
In the first half of 2023, Demant said its Asia business was driven by significant growth in China, which had outperformed all other markets with a 34% growth.
According to the World Health Organisation, hearing loss has the biggest impact on elders, affecting one in four people over 60 years old.
“Untreated hearing loss can lead to mental fatigue, social isolation and withdrawal. That may lead to depression and cognitive decline, which can precede dementia.
“Our Kuala Lumpur hub will enable us to develop and deploy cutting-edge hearing technologies to assist those that need our services the most,” Pedersen said.
“Concurrently, we will develop Kuala Lumpur into Demant’s IT hub to serve our offices across 30 countries.
“Our IT specialists will provide support in the areas of critical infrastructure, application support, cybersecurity and cloud technology.”
Demant said it plans to recruit 200 engineers and specialists by 2024 and increase the number of highly skilled employees by 50% by 2026.
“We are pleased to facilitate the establishment of Demant’s Technology and Innovation Hub in Kuala Lumpur,” said InvestKL chief executive officer Datuk Muhammad Azmi Zulkifli.
