Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Medical Tech Outlook
THANK YOU FOR SUBSCRIBING
By
MedTech Outlook | Tuesday, January 31, 2023
The Hearing Assist and iHEAR Branded OTC Hearing Aids will integrate NUHEARA's FDA-Cleared Patented Self-Fitting OTC Hearing Aid Technology.
FREMONT, CA: As a disruptive and emerging leader in the Over-the-Counter Hearing Aid market, InnerScope Hearing Technologies today announced a Memorandum of Understanding ("MOU") with NUHEARA Limited (ASX: NUH), a company listed on the Australian Stock Exchange that manufactures medical devices and consumer electronics. By signing the MOU, the companies aim to create a strategic partnership in order to establish a strong market share in the US Over-the-Counter ("OTC") hearing aid market.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
A major expansion of NUHEARA's US OTC hearing aid footprint is also provided by the partnership. NUHEARA's products are sold in 300 Best Buy stores through a partnership with Best Buy. The new partnership enables NUHEARA products to be distributed through InnerScope's ever-growing wholesale and retail network.
With this partnership, InnerScope will have access to NUHEARA's FDA-Cleared OTC Self-Fitting Hearing Aid Technology for inclusion in InnerScope's OTC Hearing Aids. The company has also been granted the exclusive rights to distribute NUHEARA's self-fitting OTC hearing aid HP Hearing PRO, which received FDA approval for self-fitting in August 2015 (Nuheara Receives Historic FDA Clearance for Self-Fitting and Launches HP Hearing PRO). As part of the agreement, NUHEARA will manufacture and market HP Hearing PRO powered by Nuheara, OTC hearing aids under the HP brand (Nuheara Enters Worldwide Trademark License Agreement with HP Inc.). InnerScope will also market and sell HP-branded OTC FDA-Cleared Hearing Aids. NUHEARA's products sold through InnerScope's sales channels will also receive first-level customer service and warranty support from InnerScope.
Justin Miller, Co-Founder and Managing Director of NUHEARA, commented, "We are delighted to enter into this partnership with InnerScope, significantly increasing NUHEARA's retail points of sale in the US OTC hearing aid market. InnerScope has been a leader and innovator in the US hearing industry by bringing affordable hearing aid technology direct to US consumers. We look forward to a long and prosperous partnership with InnerScope as we build market share in the US OTC hearing aid market." Additionally, we are excited about InnerScope marketing and selling NUHEARA's products within InnerScope's Distribution Network, especially our HP Hearing PRO FDA-Cleared Self-Fitting OTC Hearing Aids. Since we have received US FDA clearance and ISO medical device quality certification, we are now manufacturing the HP Hearing PRO hearing aids to be shipped in late January / early February 2023 to retail partners."
More in News
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info
