NetworkNewsBreaks – InnerScope Hearing Technolog
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Posted On: 10/27/2021 3:05:41 PM
NetworkNewsBreaks – InnerScope Hearing Technologies Inc. (INND) to Acquire Walmart’s Largest Hearing Aid Supplier
InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the direct-to-consumer hearing-health technology space, has announced that it is in the process of acquiring Hearing Assist II LLC, Walmart’s largest hearing-aid supplier. INND entered into a letter of intent with HearingAssist to acquire 100% equity in the company; the two companies anticipate the announcement of a definitive agreement by Nov. 15, 2021. According to InnerScope, HearingAssist has sold more than 500,000 hearing aids to nearly 400,000 customers in more than 750 Walmart stores as well as on Walmart.com; those sales have generated $72 million in topline revenues. The company offers consumers a full line of affordable, high-quality rechargeable hearing aids along with a digital TV listener device and various hearing aid accessories. HearingAssist also owns an exclusive intellectual property right to distribute and the option to purchase two patents for its hearing aids. “InnerScope and its management team are excited about the acquisition of HearingAssist,” said InnerScope Hearing Technologies president and CEO Matthew Moore in the press release. “The acquisition will leverage our combined expertise and resources to accelerate our business development to the next level. InnerScope’s management team has strived to build a company that can compete with the ‘Big Five’ global manufactures, which control 98% of all hearing aids sold of the $10-plus billion-dollar market. We believe that the acquisitions of HearingAssist and iHear Medical Inc. has positioned InnerScope to bring innovative patentable hearing technology to market, which will directly compete with the Big Five in market share. We also expect the acquisition of HearingAssist from the strategic placement of the product display located inside 757 Walmart stores will generate immediate sales revenue for InnerScope.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the direct-to-consumer hearing-health technology space, has announced that it is in the process of acquiring Hearing Assist II LLC, Walmart’s largest hearing-aid supplier. INND entered into a letter of intent with HearingAssist to acquire 100% equity in the company; the two companies anticipate the announcement of a definitive agreement by Nov. 15, 2021. According to InnerScope, HearingAssist has sold more than 500,000 hearing aids to nearly 400,000 customers in more than 750 Walmart stores as well as on Walmart.com; those sales have generated $72 million in topline revenues. The company offers consumers a full line of affordable, high-quality rechargeable hearing aids along with a digital TV listener device and various hearing aid accessories. HearingAssist also owns an exclusive intellectual property right to distribute and the option to purchase two patents for its hearing aids. “InnerScope and its management team are excited about the acquisition of HearingAssist,” said InnerScope Hearing Technologies president and CEO Matthew Moore in the press release. “The acquisition will leverage our combined expertise and resources to accelerate our business development to the next level. InnerScope’s management team has strived to build a company that can compete with the ‘Big Five’ global manufactures, which control 98% of all hearing aids sold of the $10-plus billion-dollar market. We believe that the acquisitions of HearingAssist and iHear Medical Inc. has positioned InnerScope to bring innovative patentable hearing technology to market, which will directly compete with the Big Five in market share. We also expect the acquisition of HearingAssist from the strategic placement of the product display located inside 757 Walmart stores will generate immediate sales revenue for InnerScope.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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