Audientes A/S, a Danish hearing aid innovator, and Shenzhen Hengtong Partner Co. Ltd., a Chinese medical product distributor, have signed an agreement to establish a joint venture in the hearing aid industry.

The Shenzhen-based joint venture will develop and commercialize affordable hearing solutions for the Chinese market, combining Audientes' technology with Hengtong's local expertise. Hengtong will own 60% of the venture and Audientes 40% of it, which aims to boost market competitiveness, accelerate product localization, and expand sales channels in China.

Initial activities include developing a Chinese version of Audientes' Ven self-fitting hearing aid, expected to launch in mid-2025. The venture also plans to participate in government initiatives and explore new business areas in the hearing aid sector.

Analyst QuickTake:  In June 2023 , Audientes entered the Chinese market via a partnership and strategic investment of DKK 1 million (USD 147,580) funded by Shenzhen Hengtong Partner. At the time, Audientes planned to leverage Shenzhen Hengton’s distribution network while also looking to its partner to help it secure the medical device approvals required for the Chinese market. The joint venture depicts Audientes' commitment to working with Shenzhen Hengtong to build a presence in the Chinese market.