The Australian Competition and Consumer Commission has approved Cochlear's revised proposal to acquire Oticon Medical's cochlear implants business from Demant, excluding the bone conduction solutions division, after initial competition concerns.

ACCC Commissioner Stephen Ridgeway stated that removing the bone conduction solutions business addressed significant concerns.

The acquisition is deemed unlikely to lessen competition in the Australian market substantially.

Ridgeway noted that the adjustment mitigated higher prices, lower quality, and reduced innovation concerns.