InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the direct-to-consumer (“DTC”) hearing technology space, recently announced its acquisition of Hearing Assist II LLC (“HearingAssist”). A long established leader in the market, HearingAssist has sold over 500,000 hearing aids since 2008 and has generated upwards of $72 million in top-line revenues since 2018, transforming into Walmart’s largest hearing aid supplier in the process. The acquisition will enable InnerScope to accelerate its revenue and growth strategy, as it consolidates the sales generated by HearingAssist’s hearing product kiosks, which are currently in place across 757 Walmart stores in five states. Following the acquisition, the company also revealed plans to release a joint marketing campaign, seeking to build upon HearingAssist’s brand message as “America’s No. 1 Affordable Hearing Brand.” “Today is a tremendous milestone for InnerScope. I’m delighted to welcome the HearingAssist team, who share our passion for providing convenient and affordable hearing products for the tens of millions of Americans who suffer from hearing loss,” Matthew Moore, president and CEO of InnerScope, was quoted in a recent article. “The HearingAssist acquisition is another meaningful step in advancing our strategy to grow as a leader and innovator in the direct-to-consumer hearing aid market.”
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About InnerScope Hearing Technologies Inc.
InnerScope is a leading manufacturer and distributor of FDA-registered hearing products and personal sound amplifier products (“PSAPs”), dedicated to addressing the global demand for affordable hearing solutions. InnerScope’s products and business model break through the persistent barriers that prevent access to effective hearing solutions. With its recent acquisition of iHEAR Medical, InnerScope is poised to expand its leadership in the direct-to-consumer hearing solutions market with innovative hearing products offered to consumers at a fraction of the cost of conventional hearing aids sold in hearing aid centers. For more information about the company, visit www.INND.com.
NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND
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