Cochlear (COH)

Shares / Stock Code

COH

Stock Exchange / Sharemarket

ax

Cochlear Limited (COH) is an Australian company engaged in the manufacturing and supply of implantable hearing solutions. The company is a world leader in the development, manufacture and distribution of cochlear implants. Cochlear implants are normally suitable for individuals with auditory (ear) nerve damage that cannot be corrected with hearing aids. It has principal operations in Europe, Asia Pacific and Americas. COH was listed on the Australian Stock Exchange on the 4th of December 1995. Its average annual revenue reaches approximately $80 million out of its issued capital of $14 million. Its headquarters is located in Sydney, New South Wales, Australia and to date; around 980 people are employed in the company. Cochlear's manufacturing facilities, principal research and development activities are located in Sydney, Australia. The company's Nucleus cochlear implant systems and services are available in more than 60 countries worldwide.

Included in the product lines of Cochlear Limited are Vistafix and Baha products and services. Vistafix is engaged in the anchoring of certain prostheses while Baha is a bone-anchored hearing implant used either for single-sided deafness or conductive hearing loss. These Baha products and services compliment cochlear implants as it provides different solutions for the different types of hearing loss.

Cochlear Limited is also engaged in developing Nucleus Freedom, a next-generation cochlear implant. Aside from the above mentioned products, COH also designs Nuclear 3, a cochlear implant system designed for the sound access provision. It was developed to help individuals suffering from profound sensor neural hearing loss. This system comprises a speech processor which is externally worn and an internal cochlear implant.

COH also provides cochlear implants recipients with ongoing services. Even those recipients of four cochlear implants systems that are no longer being given in the industry of cochlear implant still receive customer service from the company. The four implant systems were the Ineraid, 3M-Vienna, Laura 3 and the 3M-House. Worldwide programs at cochlear implant centres, private schools and rehabilitation centres for the expansion of adult cochlear implants and pediatric services are also provided by the company.

Cochlear (COH) Company History

Graeme Clark investigated and researched the feasibility and viability of the multi-channel Cochlear implants in 1967. This action resulted to the foundation of Cochlear. 22 channels for Nucleus Cochlear implant was established by Graham Carrick in 1982.

The first cochlear implant system obtained a US FDA clearance in 1985 in order for adults to use it. In 1990, FDA clearance for children was issued to the company.

SPEAK speech coding strategy was established in 1994. The company then joined Australian Stock Exchange in 1995. Cochlear’s Nucleus 24 implant was issued in 1997. Nucleus cochlear implant was used to approximately 10,000 children in 1998. Speech processor behind the ear (BTE) was the first multi-channel to be issued. ACE speech coding strategy was also developed.

In 1999, the company developed the peri–modular contour electrode. The COH started experimenting neural response with neural response telemetry (NRT). BTE ESPrit 3G speech processor was released in 2002. This processor has full day battery life and whisper setting in-built telecoil. Speech processor’s ESPrit behind the ear, new Nucleus 22 product was introduced in 2003. The company was enlisted in the Circle Alliance Partnership in 2004 and became part of Alexander Graham Bell Association for the Deaf and Hard Hearing (AGBELL). Cochlear made a project to alleviate awareness, language options and educational materials for people with hearing problems. In June 2004, Cochlear's major competitor in USA, Advanced Bionics was acquired by Boston Scientific (which was later demerged in August 2007) when their reputation was damaged as a result of three major product recalls over two years. In December 2004, COH's Eurpoean competitor, Med El had their products banned for importantion by the FDA.

Entific Medical Systems in Swedish, a company that distributed and developed hearing implants was sold to Cochlear for about $137.5 million in March 2005. Nucleus Freedom Cochlear implant system gained approval to be sold from US Food and drug Administration (FDA). Nucleus Freedom was introduced in Canada upon gaining approval from Health Canada in April 2005. Smart sound was introduced that same month. This is used in the Nucleus Freedom speech processor system.