InnerScope Hearing Technologies (OTC: INND) Completes Acquisition of Hearing Assist
Virginia Beach, Virginia., Nov. 29, 2021 -- InnerScope Hearing Technologies Inc. (OTC: INND) ("InnerScope"), an emerging and disruptive leader in the Direct-to-Consumer Hearing Technology space, today announced, effective as of Nov. 23, 2021, it has completed the acquisition of Hearing Assist II, LLC. ("HearingAssist"). As a result of the acquisition, HearingAssist will continue to operate under Hearing Assist Direct, Inc., InnerScope's wholly-owned subsidiary with the same management and operations team, which has made the brand successful.
In addition, the acquisition will allow HearingAssist to leverage InnerScope's experienced research and development team, its FDA-registered hearing aid manufacturing facility, and its 40+ patents, strengthening its competitive edge and position in the direct-to-consumer and over-the-counter hearing aid market.
The management teams have already begun an aggressive marketing campaign for the holiday seasons building on HearingAssist's brand messaging as America's No. #1 Affordable Hearing Brand and using HearingAssist's acclaimed national television commercial, which includes a "Free Holiday Special Offer" valued at $149.
Please click the link to view (HearingAssist National Holiday Commercial)
"We are thrilled about the acquisition and the opportunity to work with InnerScope's highly experienced management team," said Nick Naylor, partner of HearingAssist. "Being able to leverage off InnerScope's R&D manufacturing design team will allow HearingAssist to provide affordable, world-class, differentiated hearing technologies that will significantly enhance each customer's hearing experience."
Floyd Kuriloff, founder HearingAssit, commented: "We are excited about our partnership with InnerScope that will allow us to execute on the growth opportunities in front of us. For over a decade, HearingAssist has brought multiple innovations to the hearing aid market, which have helped hundreds of thousands of consumers to hear with HearingAssist's high-quality, affordable hearing aids. We believe the acquisition will afford HearingAssist to continue its mission by bringing more unique hearing innovations, better cost efficiencies in the manufacturing supply chain, and greater access to global markets. We also believe in combining our synergies will emerge the number one leader in the direct-to-consumer over-the-counter hearing aid market."
Matthew Moore, president, and CEO of InnerScope Hearing Technologies, Inc., stated: "We are proud to welcome the HearingAssist team who share our passion for providing affordable direct-to-consumer hearing products to the tens of millions of Americans who suffer from hearing loss. We are excited about combining the strengths of HearingAssist with its market presence of hundreds of thousands of satisfied customers and InnerScope's experienced iHear Direct R&D manufacturing team of electroacoustics design engineers and a staff of hearing health professionals for enhanced customer service, which will increase HearingAssist's ability to deliver the most affordable, highest quality direct-to-consumer hearing aids on the market."
About InnerScope Hearing Technologies, Inc. (OTC PINK: INND):
InnerScope Hearing Technologies Inc. is a leading Direct-to-Consumer (DTC) manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and Personal Sound Amplifier Products (PSAPs) ("Hearing Products") dedicated to addressing the global demand for affordable hearing solutions. InnerScope's Hearing Products and its business model break through the persistent barriers that prevent access to effective hearing solutions.
InnerScope's recent Acquisition of iHear Medical Inc., a DTC cloud-based hearing solution provider, gives the Company access to over 40 patents and FDA-registered manufacturing and R&D facility. In addition, a partnership with Atlazo Inc., a semiconductor innovator for next-generation A.I. smart devices, will allow InnerScope to take the lead position in the direct-to-consumer hearing solutions market by selling innovated proprietary advanced hearing products through Walmart and other major Big Box retailers.
InnerScope's full line of Hearing Health products is currently available through these multiple retail/wholesale channels: Walmart.com, Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Cardinal Health dba R.G.H. Enterprises Inc., which provides products to FSAStore.com, HSAStore.com, & WellDeservedHealth.com. Additional major retailers in-store and online launching soon.
Founded in 2008, headquartered in Virginia Beach, Virginia, HearingAssist has sold more than 500,000 hearing aids to nearly 400,000 customers via direct-to-consumer or retail partners. HearingAssist was the first direct-to-consumer ("DTC") hearing aid company to use mass national television marketing to create a recognizable brand as America's #1 Affordable Hearing Brand
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended intended to be covered by the "safe harbor" created by those sections. Any statements that are not historical facts contained in this press release are also "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be canceled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or maintain contractual relationships with vendors and customers, competition, general economic conditions and other factors that are detailed in our periodic reports filed with the Securities and Exchange Commission ("S.E.C."). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA, Securities Act, and Securities Exchange Act.
InnerScope Hearing Technologies, Inc.
Investor Relations Agency Contact:
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