InnerScope Hearing Technologies Inc. Announcing the "Grand Opening" of its Newest Hearing Aid Retail Clinic and Two Additiona...
January 15 2019 - 8:00AM
InvestorsHub NewsWire
InnerScope Hearing Technologies Inc.
Announcing the "Grand Opening" of its
Newest Hearing Aid Retail Clinic
and Two Additional
Locations that has a
Market Yield of
$600+ Million in Revenue
InnerScope's continues its expansion
rollout plan of opening new audiological hearing
aid retail clinics with the latest "Grand
Opening" of its new Sacramento,
California location and the two additional locations in Elk Grove
and Fremont California with "Grand Openings" slated for early
February 2019
ROSEVILLE, CA
-- January
15,
2019 -- InvestorsHub
NewsWire -- InnerScope Hearing
Technologies Inc. (OTCQB:
INND) announced
the
latest
"Grand Opening" of its newest audiological hearing aid retail
clinic under
its
dba brand
"Value Audiology &
Hearing Aid Center" ("Retail Clinic")
located in Sacramento, California. In
addition, InnerScope has signed Letters of Intent ("LOI's") for
long-term leases on two more Retail Clinics located in Elk Grove
and Fremont California to be slated to open in early February 2019.
InnerScope is continuing to
deliver
and execute
on its
previously announced expansion rollout plan by
opening
at least
22 new audiological
hearing aid retail clinics throughout Northern California
in
2019 ("Rollout
Plan").
InnerScope's Rollout
Plan of locating each
Retail
Clinic is based on key location
demographic revenue drivers, such as, age,
income,
and
high
density populated
areas. According to surveys conducted by www.hearingtracker.com, approximately 35% of
the U.S. population age 65 or older has hearing loss
that may
benefit wearing hearing aids but
only 15%
of those people currently wear hearing aids ("Conversion
Rate"). Also,
according
to www.hearingtracker.com the industry
average price sold is
$2,372
("Average
Price")
per unit
(a unit equals one
hearing aid) and equal to 1.84 number of units purchased per person
("Binaural Rate") meaning, 84% of the time a person purchases two
hearing aids (units).
InnerScope's Key Retail
Clinic Location & Demographic Revenue Drivers
(*Per U.S.
Census Data: average of 2.58 people per household)
For
Example:
InnerScope's
Sacramento
Retail
Clinic, located
in
the Country
Club/Arden-Arcade
Area:
(One of the highest concentration of people over the age of 65
in Northern California)
- 89,425
age
65+ households
- 230,716*
people
over the age 65
- 80,750 people with
hearing loss (35% of the U.S population)
- 148,580 total
potential units sold Binaural Rate
- $352,431,760
total
potential revenue based on Average
Price
InnerScope's upcoming
Elk Grove Retail
Clinic located
South of
Sacramento:
- 32,554
age
65+ households
- 83,989*
people
over the age 65
- 29,396 people with
hearing loss (35% of the U.S population)
- 54,070 total
potential units sold Binaural Rate
-
$128,254,040
total
potential revenue based on Average
Price
InnerScope's upcoming
Fremont Retail Clinic located
Southeast
of San
Francisco Bay Area, fourth most
populated city in the San Francisco Bay Area:
- 36,338
age
65+ households
- 93,752*
people
over the age 65
- 32,813 people with
hearing loss (35% of the U.S population)
- 60,375 total
potential units sold Binaural Rate
-
$143,209,500 total potential
revenue based on Average
Price
$623,895,300 is the
total
market
yield in
potential hearing aid revenue from
just
these three
locations.
InnerScope
has the
ability to not only penetrate
the current market share in these markets but will also
continue to
grow the
market by increasing the current Conversation Rate
using
its
Manufacturers Direct
Pricing Model as its Unique Selling
Proposition ("USP").
"We believe with our
High-Quality
Patented Hearing
Aid Technology combined
with our USP and delivery
model, InnerScope can take a commanding
lead in market share of this 5+
billion-dollar industry," said
Matthew Moore, CEO of InnerScope Hearing
Technologies.
"Once we complete our Northern California expansion the potential
market yield will be in the billions of dollars in hearing aid revenue.
This is not even including the repurchasing cycle for new hearing aids every
three to five years on the average and coupled with over 10,000 people
everyday in the U.S. turning 65 years old, the potential market
yield is really almost unlimited. InnerScope's business plan and expansion Retail Clinic model is
very scalable, there is nothing holding InnerScope back to continue to expand in all major markets
across the United States," Mr.
Moore concluded.
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
www.hearingtracker.com
www.valueaudiology.com
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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