# Sonova AG

Sonova AG is an other based in Stäfa, Switzerland.

## Overview

- **Organization type:** other
- **Headquarters:** Stäfa, Switzerland
- **Region:** Europe
- **Address:** Stäfa, Switzerland
- **Founded:** 1947
- **Assets under management:** Undisclosed
- **Website:** www.sonova.com
- **LinkedIn:** https://www.linkedin.com/company/sonovagroup

## Regulatory record

- **Reports private funds:** No

## About

Sonova AG traces its roots to 1947, when Ernst Rihs founded a hearing-aid workshop in Stäfa, Switzerland. The company went public in 1996 and is now led by CEO Arnd Kaldowski, who succeeded Lukas Braunschweiler in 2022. The wealth origin is public-market growth, not a single-family fortune. Sonova deploys capital across hearing-aid manufacturing, cochlear implants, and audiology retail. The company's portfolio includes Phonak and Unitron for devices, Advanced Bionics for cochlear implants, and a chain of over 4,500 retail centers under brands like AudioNova and Connect Hearing. Sonova invests in R&D for wireless connectivity and AI-driven sound processing, with products sold in more than 100 countries. The company reported CHF 3.6B in sales for fiscal year 2024, and employs over 19,000 people globally. Its operational footprint spans Europe, North America, Asia, and Australia, with main manufacturing in Switzerland, the US, and Vietnam. Sonova maintains a philanthropic foundation, the Sonova Foundation, which supports hearing care in underserved communities. A structural differentiator is Sonova's vertically integrated model: it controls the entire value chain from component manufacturing to retail service. This gives it pricing power and a direct consumer relationship uncommon among hearing-aid rivals, and insulates margins from wholesale competition.

## Sectors

- Healthcare Services
- Industrial Tech

## People

- Arnd Kaldowski — CEO
- Markus Binder — Chairman of the Board

## Questions

### Who runs investment decisions at Sonova AG?

Arnd Kaldowski has been CEO since 2022, overseeing the company's strategic direction. The board is chaired by Markus Binder. Capital allocation decisions, including M&A and R&D spending, are made by the executive committee, subject to board approval.

### How does Sonova source growth?

Sonova pursues both organic growth through product innovation and acquisitions in retail audiology. Recent deals include the 2025 purchase of Audium to strengthen its European retail network. The company also invests heavily in R&D for wireless connectivity and AI-driven hearing solutions.

### Which sectors does Sonova focus on?

Sonova operates exclusively in hearing healthcare: manufacturing hearing aids (Phonak, Unitron), cochlear implants (Advanced Bionics), and retail audiology services. It does not diversify outside this sector.

### Does Sonova engage in direct investments or partnerships?

Sonova makes direct acquisitions in retail and technology, but does not run a venture arm or investment fund. It partners with researchers and universities for R&D, such as collaborations with the University of Zurich on hearing neuroscience.

### What is Sonova's known posture on co-investments alongside external GPs?

Sonova does not co-invest with external general partners. Its capital deployment is limited to its own balance sheet, focused on acquisitions in its core vertical and R&D expenditure. No external manager co-investment structure is publicly disclosed.

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Last updated: 2026-06-03T20:00:00.000Z

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