InnerScope Hearing Technologies Inc. Acquires California Audiology and Hearing Aid Retail Practice
September 06 2018 - 8:50AM
InvestorsHub NewsWire
InnerScope Hearing
Technologies Inc.
Acquires
California Audiology and
Hearing Aid Retail
Practice
Company continues its
path as industry consolidator
with its retail acquisitions and expansion
plans.
Roseville, CA
-- September 06,
2018 -- InvestorsHub
NewsWire -- InnerScope Hearing
Technologies Inc.
(OTCQB:
INND) announced
today it has signed a
definitive agreement (the
"Agreement") to acquire all the
assets of Kathy L. Amos
Audiology (the "Practice") based in Walnut Creek, California. The
Practice provides retail hearing aid
sales and audiological
services for the
entire
East Bay of the San Francisco area. This
acquisition further strengthens
the Company's position in its
physical
retail
presence
and
compliments the recent LOI
announcement
to
acquire Value Hearing
LLC and its two
locations.
InnerScopes'
acquisition of
the
Practice is part of
its
ongoing
expansion
strategy
and
plan
of
owning
audiological and
retail hearing aid
clinics
throughout the
USA. InnerScope
management has
previously
successfully owned and
operated clinics
in
the East San Francisco
Bay Area, making this a
strategic
acquisition in one of
the most affluent and
densely populated markets in the USA.
Additionally,
the
Company's appointment of Kathy L.
Amos,
Au.D., Doctor of
Audiology as
InnerScope's
Director
of Audiology not only gives
InnerScope
a
wide
breadth of hearing aid
industry
experience and reputation but also provides more growth and revenue
capabilities for the
Company. In this newly created
role, Amos
will be
tasked with creating and implementing an operational strategy
for all
of
InnerScope's
audiological
services both on and off-line.
Dr. Amos will focus on
improving the integration of hearing related services, customer
communications and collaboration across all divisions.
Perhaps
most importantly, she
will
be focused on
creating
an
efficient system for
billing
Medicare and other
medical insurers
for
all
audiological
services company wide.
Dr. Amos
will be integral in furthering our
expanding relationship with Walmart.com.
"The acquisition
of
the
Practice coupled
the
appointment of Dr. Amos
as our
Director of Audiology, is significant
progress in our
consolidation
of the industry,
creating
competitive
advantages of
scale
and broader,
integrated capabilities
for our
customers",
said
Matthew Moore, CEO of InnerScope Hearing
Technologies. "I am excited to
have the
Kathy's
team
joining InnerScope and especially
look forward to
adding
Dr.
Amos' talent and
experience to InnerScope's
management
as
Director of Audiology. We
intend
to
realize
significant revenue
from this acquisition given that we know this
market
very well", Mr. Moore
concluded.
About InnerScope Hearing Technologies (INND):
InnerScope Hearing
Technologies (INND) is a rapidly expanding
consolidator of the hearing aid industry in the USA. Management is
applying decades of profitable
industry experience and
technology to an antiquated and disjointed industry, unlocking
scale and efficiency,
which will serve all of the
Company's stakeholders. Its
direct-to-consumer
model is revolutionizing the industry with its Walmart.com
relationship representing a paramount shift in the consumption of
hearing aids to the hearing impaired.
In
addition the Company plans to
continue
to
open,
acquire,
and operate
a
physical
chain
of audiological and
retail hearing device clinics. The Company's mission
is to serve approximately
1.2 billion people around the globe that are suffering with 25 db
or greater hearing loss across the entire
hearing impaired vertical from R&D and manufacturing through
direct consumer sales and services. For more information,
please visit: www.innd.com
About Kathy L. Amos
Audiology:
Kathy
L. Amos, Audiology offers
Audiology
Services & Hearing Aids and
has
been the premier audiology practice in Walnut Creek,
California.
The
practice provides
comprehensive ear care along
with
actively participating in the
prevention of hearing loss through the provision and fitting of
hearing protective devices, consultation on the effects of noise on
hearing, and consumer education.
Kathy L.
Amos, Au.D. FAAA. has
been
helping the hearing impaired in the East Bay area community for
almost 28 years. Her practice
began as a California
licensed hearing aid dispenser, furthering advancing
when she received her
Masters in Audiology MA. from San Jose State University in 1998
and concluding
with her Doctorate in
Audiology Au.D. in 2011 from
the
University
of
Florida. For more information,
please visit: www.amosaudiology.com
Safe Harbor
This
presentation contains forward-looking statements,
which relate to future
events or InnerScope Hearing Technologies future performance or
financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "should," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to
be forward-looking statements. These forward-looking statements are
not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as
result of a number of factors, including those described from time
to time in InnerScope Hearing Technologies filings with the
Securities and Exchange Commission. InnerScope Hearing Technologies
undertakes no duty to update any forward-looking statements made
herein.
Contact:
InnerScope Hearing
Technologies,
Inc.
Matthew
Moore
Matthew@innd.com
916-218-4100
www.innd.com
www.amosaudiology.com
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