InnerScope Hearing Technologies, NUHEARA Partner on Self-Fitting Hearing Aid Tech

InnerScope Hearing Technologies Inc. has signed a Memorandum of Understanding (MOU) with NUHEARA Limited to build a strong market share in the U.S. Over-the-Counter (OTC) hearing aid market.
 
The partnership between the companies gives InnerScope licensing rights, clinical know-how, and support to its patents and NUHEARA’s U.S. Food and Drug Administration (FDA)-cleared OTC Self-Fitting Hearing Aid technology to be integrated into InnerScope’s OTC hearing aids. In addition, InnerScope has status as the exclusive third-party retail chain distributor for selling NUHEARA’s products, including its FDA-cleared OTC Self-Fitting HP Hearing PRO hearing aid. NUHEARA has a license agreement with HP Inc. to manufacture and market OTC hearing aid products under the HP brand, the HP Hearing PRO powered by Nuheara. Moreover, InnerScope will be able to market and sell HP-branded OTC FDA-cleared Self-Fitting Hearing Aids products by NUHEARA in the United States. InnerScope will also provide first-level customer and warranty support for NUHEARA’s products sold through InnerScope’s sales channels.

“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,” NUHEARA Co-Founder/Managing Director Justin Miller said. “InnerScope has been an innovator in the U.S. hearing industry by bringing affordable hearing aid technology direct to U.S. 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 FDA clearance and ISO medical device quality certification, we are now manufacturing the HP Hearing PRO hearing aids to be shipped to retail partners.”
 
The partnership also provides a major expansion for NUHEARA’s footprint in the U.S. OTC hearing aid market. NUHEARA has a partnership with Best Buy to sell its products in 300 Best Buy locations. This new partnership will allow NUHEARA products to be sold through InnerScope’s ever-growing wholesale/retail distribution network of major retailers, healthcare service companies, and pharmacy chains.
 
“We are excited to work with NUHEARA’s management team to build a strong partnership. This partnership gives NUHEARA access to InnerScope’s Distribution Network. In addition, the partnership gives InnerScope the ability to integrate NUHEARA’s FDA-cleared OTC Self-Fitting Hearing Aid Patent Technology into InnerScope’s HearingAssist, and iHEAR OTC Hearing Aid branded products,” InnerScope Hearing Technologies President/CEO Matthew Moore said. “Integrating the FDA-cleared Self-Fitting technology into InnerScope’s brands of OTC hearing aid products will provide InnerScope the ability to offer and market InnerScope OTC hearing aids as FDA-cleared Self-Fitting Hearing Aids. In addition, we are equally excited to have NUHEARA give InnerScope status as the exclusive third-party distributor who can market and sell the HP Hearing PRO FDA-cleared Self-Fitting OTC Hearing Aids through InnerScope’s Distribution Network. The HP brand is a well-known and respected brand, and we are proud to add the HP Hearing PRO powered by NUHEARA into InnerScope’s Brands of OTC hearing aid products.”  
 
HP Hearing PRO | Advanced FDA-Cleared Self-Fitting OTC Hearing Aids are products that look nothing like a traditional hearing aid. Built to medical device standards and meeting all FDA requirements for safety and efficacy, the HP Hearing PRO features the Ear ID self-fitting software and technology powered by Nuheara. The Ear ID has been clinically proven to be substantially equivalent to a professionally fit hearing aid. The proprietary Ear ID software tests the wearer’s individual hearing thresholds from low frequency to high frequency in each ear, then automatically programs the HP Hearing PRO hearing aids for each ear. This ability for the consumer to self-fit through the HP Hearing application for iOS and Android platform mobile devices allows a quick and easy acclimation experience for the consumer. The entire acclimation experience takes about 10-15 minutes, from unboxing through customization of the user’s personalized profile to accommodate their perceived mild to moderate hearing loss.
 
In addition to the HP Hearing PRO’s capabilities as an OTC hearing aid, this product streams media and phone calls via Bluetooth The Active Noise Cancellation minimizes background noise for an immersive sound experience when streaming phone calls or music. The HP Hearing PRO has been clinically validated¹ through research completed by the National Acoustic Laboratories to provide a 30% speech understanding improvement in the presence of noise using the directional microphone feature called Focus. This is a huge benefit for consumers in restaurants or social situations where background noise makes understanding speech difficult. 
 
NUHEARA is a medical device and consumer electronics manufacturer that has developed proprietary, multi-functional, personalized intelligent hearing devices that augment a person’s hearing. NUHEARA is headquartered in Perth, Australia, and was the first consumer wearables technology company to be listed on the Australian Securities Exchange (ASX). In 2016, the company released its wireless earbuds, IQbuds, which allow consumers to augment their hearing according to their personal hearing preferences and connect hands-free with their voice-enabled smart devices. In 2020 NUHEARA released its third-generation hearable the IQbuds² MAX. In 2021, the company transformed its operations to include medical device manufacturing for its hearing aid products to meet global demand for mild to moderate hearing loss. Its products are now sold Direct to Consumer (DTC) and in major consumer electronics retailers, professional hearing clinics, pharmacies, and specialty retailers worldwide.

InnerScope Hearing Technologies Inc. manufactures and distributes OTC hearing aids, hearing aid accessories, and hearing health-related products dedicated to addressing the global demand for affordable hearing solutions. InnerScope’s acquisition of iHear Medical Inc., a direct-to-consumer cloud-based hearing solution provider, gives the company access to more than 40 patents and an R&D facility. In addition, InnerScope has acquired HearingAssist, an established leader since 2008 in the DTC hearing aid market with a customer base of more than 400,000. These acquisitions, and a partnership with Atlazo Inc., a semiconductor innovator for next-generation AI smart devices, will allow InnerScope to better position itself in the OTC hearing aid market by selling advanced hearing products through Walmart and other major retailers and pharmacy chains.

Reference 
¹ Clinical Investigation Report: Validation of Nuheara Self-Fit Hearing Aid, Version 4,31st January 2022 by National Acoustic Laboratories, Australia