NetworkNewsBreaks – InnerScope Hearing Technolog
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Posted On: 11/29/2021 3:25:36 PM
NetworkNewsBreaks – InnerScope Hearing Technologies Inc. (INND) Announces Completion of Hearing Assist Acquisition
InnerScope Hearing Technologies (OTC: INND), an emerging and disruptive leader in the direct-to-consumer (“DTC”) hearing technology space, has finalized its previously announced acquisition of Hearing Assist II LLC. An established leader in the direct-to-consumer hearing aid market, Hearing Assist reports more than 500,000 hearing aids sold and top-line revenues of more than $72 million since 2018; the company is Walmart’s largest hearing aid supplier. According to the agreement, the acquisition transaction included a total of $10 million equivalent of InnerScope’s restricted shares of common stock subject to a 24-month leak-out agreement. Under the agreement, HearingAssist will continue to operate under Hearing Assist Direct Inc., a wholly owned InnerScope subsidiary; InnerScope retained the same management and operations team. “Today is a tremendous milestone for InnerScope,” said InnerScope president and CEO Matthew Moore in the press release. “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. 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. Moreover, adding HearingAssist and its management team with their proven track record should continue generating millions of dollars in sales revenues with Walmart in-store displays and Walmart.com and through its online website. . . . I’m excited about InnerScope’s next chapter, as we continue to drive growth with increased revenues to create long-term value for shareholders.”
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 (“DTC”) hearing technology space, has finalized its previously announced acquisition of Hearing Assist II LLC. An established leader in the direct-to-consumer hearing aid market, Hearing Assist reports more than 500,000 hearing aids sold and top-line revenues of more than $72 million since 2018; the company is Walmart’s largest hearing aid supplier. According to the agreement, the acquisition transaction included a total of $10 million equivalent of InnerScope’s restricted shares of common stock subject to a 24-month leak-out agreement. Under the agreement, HearingAssist will continue to operate under Hearing Assist Direct Inc., a wholly owned InnerScope subsidiary; InnerScope retained the same management and operations team. “Today is a tremendous milestone for InnerScope,” said InnerScope president and CEO Matthew Moore in the press release. “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. 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. Moreover, adding HearingAssist and its management team with their proven track record should continue generating millions of dollars in sales revenues with Walmart in-store displays and Walmart.com and through its online website. . . . I’m excited about InnerScope’s next chapter, as we continue to drive growth with increased revenues to create long-term value for shareholders.”
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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