Australian Healthcare "Healthcare Daily: News, research & industry feedback" Low

Research evidence excerpt

Australian Healthcare "Healthcare Daily: News, research & industry feedback" Low

Global Research

15 May 2026ab

Australian Healthcare Equities

AustraliaHealthcare Daily: News, research & industry

feedback Healthcare

David Low

Analyst

david.low@ubs.com

Stocks covered: COH, CSL, RHC, TLX +61-2-9324 2843

James Meares

Industry Call: Cochlear update post the US CI2026 Conference Analyst

james.meares@ubs.com

+61-29-324 3575Earlier this week we hosted a call with a cochlear surgeon based in Seattle.

Grace Allen

Associate Analyst

Key points from the call for Cochlear investors.

grace-za.allen@ubs.com

Drop in implants / hearing care a key talking point at the conference. The +61-2-9324 2000

decline in cochlear implant volumes was a hot topic. The potential causes

discussed included:

Cost of living challenge. The Iran conflict has created greater economic

uncertainty along with rising fuel costs. The general increase in the cost of

living has made consumers/patients cautious, reducing the number of

candidates prepared to seek health services or ultimately go ahead with an

implant. The tighter financial environment has also resulted in reduced leeway

with unprofitable services in hospitals which has become a further barrier to

access.

Payor / Insurance challenges. The rise is the number of Medicare eligible

recipients with Medicare Advantage cover has been a challenge, given they

generally face a higher out-of-pocket cost and possibly limitations on access.

Insurers denials have also risen which has been attributed to the use of AI

which results in automatic denials if any criteria is not met.

Over the counter hearing aids. The availability of over-the-counter hearing

aids (HAs) and the associated marketing of HAs with AI is likely leading patients