InnerScope Hearing Technologies (INND) Launching Direct-to-Consumer "Self-Fitting" Hearing Aids
February 04 2019 - 08:00AM
InvestorsHub NewsWire
InnerScope Hearing Technologies (INND)
Launching Direct-to-Consumer
"Self-Fitting" Hearing Aids
Global "Big Box Retailers" targeted
as INND continues disruptive innovation and
distribution in $9 billion-dollar global
market
ROSEVILLE, CA --
February 4, 2019 -- InvestorsHub
NewsWire -- InnerScope Hearing
Technologies Inc. (OTCQB:
INND) a manufacturer and Direct-to-Consumer ("DTC")
distributor/retailer of FDA-Registered Hearing Aids, ("Hearing
Products") announces the launching of its "NEXUS"
brand of
Smartphone User Controlled Self-Fitting Hearing Aid
Hearing Products ("NEXUS"). The launch of the NEXUS is InnerScope's
next generation of high quality cutting-edge patented hearing aid
technology of affordable hearing aids. The manufacturing
of
the NEXUS is the result of InnerScope's previously announced
10-Year manufacturing and partnership agreement with
Zounds
Hearing Inc.
InnerScope, as direct
ship a wholesale vendor for Walmart.com (NYSE:WMT)
will
begin to offer the NEXUS to Walmart.com customers as
well through its own
multiple eCommerce DTC channels and other large eCommerce retailers
which allows consumers the ability to have 24-hour easy access to
individualize and personalized high quality patented hearing aid
technology at their fingertips without leaving their home.
Additionally, InnerScope will be offering the NEXUS to be purchased
through multiple
Global
Big Box Retailers. The NEXUS will give InnerScope the ability to
continued to disrupt the current traditional hearing aid
professionally affiliated dispensing channel with its
affordable DTC online
or in-store user controlled
"Self Fitting" hearing aids versus the
alternative to
the
current high cost of professionally fitted hearing aids.
Currently, the $9
billion dollar global hearing aid industry has only approximately
15% consumer adoption and market penetration rate, primarily
through the traditional professionally affiliated dispensing
channel. Which leaves 85% or about one billion people
(approximately 40 million in the U.S. alone may benefit using
hearing aids, since Medicare does not cover the cost of hearing
aids) that have reported to have some hearing issues but have
decided not purchase hearing aids, mainly due to the high cost,
(average cost of $2,400 per hearing aid in the U.S.) inconvenience
and the lack of accessibility to affordable hearing aids. Moreover,
there is an ongoing growing shortage of hearing care professionals
especially in the U.S. market, so the current number of
professionals even with the slightest increase in the hearing aid
adoption rate would not be able to handle or serve the customers,
let alone the true number of people who really needs hearing
aids.
InnerScope, given the
experience with Walmart.com customers with InnerScope's ALPHA
Hearing Products (which carries a Five Star-Rating by Walmart.com
customers) believes the consumers are going like the convenience of
buying and the simplicity of wearing a "Self Fitting" Hearing Aid
with the latest in high-tech features that are built into the
NEXUS. InnerScope also believes offering a "Self Fitting" Hearing
Aids, like the NEXUS especially through large eCommerce DTC
channels such as Walmart.com and/or other Global
Big Box Retailers will have a huge impact on increasing the current
overall global consumer hearing aid adoption and market penetration
rate.
"The
NEXUS and its patented Self-Fitting Technology is a major breakthrough for
InnerScope," said Matthew Moore, CEO of InnerScope
Hearing Technologies.
"Actually,
Self-Fitting Hearing Aid Technology is going to
be "Game Changer" for the entire hearing aid industry. We are proud
to have thrown our hat into the
hearing
aid manufacturing arena with our own
Self-Fitting
Technology with the development of the NEXUS. We anticipate the
NEXUS will result in more people buying hearing aids due to the
easy, simple and almost effortless transaction. This could result
in InnerScope alone significantly increasing the overall hearing
aid market penetration rate (which was about 4 million hearing aids
sold in the U.S. in 2018) by adding potentially billions of dollars
of InnerScope hearing aid sales to the global hearing aid
industry", Mr. Moore continued.
"As
consumer electronics have become smaller, more powerful and able to
connect via Smartphone, manufactures are jumping on the ban wagon
to produce all kinds of electronic products with artificial
intelligence intended for the users overall health and well-being.
InnerScope wants everyone to realize, just like all the other
consumer electronics, Self-Fitting
hearing
aids are the next wave of consumer electronic products to helped to
solve the multiple health issues caused by the ever-growing global
epidemic of untreated hearing loss. InnerScope is committed to
providing the latest in hearing aid technology and will continue to
enhance its affordable DTC Hearing Product portfolio to the tens of
millions of people who are suffering with the consequences living
with untreated hearing loss." Mr. Moore concluded.
The NEXUS
offers a lower cost (average of 50% to 75% lower cost compared to
professionally fitted hearing aids with similar technology and
features) and a more convenient hearing aid solution without the
need of seeking the assistance of a hearing care professional. The
NEXUS connects to any Smartphone and is able for the user to easily
and quickly access the "Self Fitting" technology and
directly control (using
iOS or Android mobile app) the functionality of the hearing aids in
real-time in real-world environments.
The NEXUS
with its patented Noise Reduction Technology and its HearIQ Remote
Control App Technology provides programming for complete
personalization with fine-tuning options and "Self Fitting"
technology. The HearIQ Remote Control App Technology will give the
user the ability to:
- Take a
Hearing Test - for automatically
accessing the Self-Fitting algorithms for personalizing
each hearing aid to an
optimal hearing augmentation level.
- Real-Time
Fine-Tuning adjust Bass/Treble
and Volume in each ear independently for maximum personalization
different listening situations.
- Enable Tinnitus Masker
Intensity provides
personalization in each ear for different masker options and
intensities for relief for Tinnitus (ringing in the ears)
sufferers.
- Personalize 4 Comfort
Listening Programs - for
different
listening
environments. For Example:
- Quiet Mode
maximum
noise reduction for the user to enjoy quiet time for relaxing on an
airplane or at home.
- Music Mode
low noise
reduction with full frequency spectrum for optimizes music in all
frequency bands. The user experiences the fullness of sound when
enjoying music.
- Dining Mode
medium
noise cancellation and passive directionality for difficult
listening environments such as group dining at home or a
restaurant. The user can tune out the background noise and focus on
the conversation.
- Party Mode
high
noise cancellation and aggressive directionality for very difficult
listening environments, such as noisy parties or sporting
events.
About InnerScope Hearing Technologies
("INND")
InnerScope Hearing
Technologies (INND)
is a rapidly expanding
consolidator of the hearing aid industry. 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 InnerScope'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 by the hearing
impaired.
In
addition, InnerScope
plans to
continue to open,
acquire,
and operate
a
physical
chain
of audiological and
retail hearing device clinics. InnerScope'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
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.
Investor
Relations
Info@innd.com
916-218-4100
www.innd.com
Walmart.com
Zounds
Hearing Inc.
For the Most
Up-to-Date information about InnerScope Hearing Technologies
(OTCQB:
INND), please visit and follow our Official Twitter account
@inndstock Page.
https://twitter.com/inndstock
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