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Nuheara Expands US Retail Footprint With InnerScope Strategic Partnership

12/12/2022

BELLEVUE, Wash., Dec. 12, 2022 (GLOBE NEWSWIRE) -- Medical device and consumer electronics manufacturer Nuheara Limited (ASX:NUH) (Company or Nuheara) is pleased to announce a major expansion of its US retail footprint, from circa 300 points of sale currently to circa 4,600 over the coming months, with US FDA cleared self-fit hearing aids now being manufactured to fulfill initial orders from Best Buy and other US retail customers.

Memorandum of Understanding (MoU) signed with InnerScope to sell Nuheara OTC self-fit hearing aids in c1,500 Walmart and c1,700 Rite Aid stores

Why did FDA Approval of Over-the-Counter Hearing Aids Take So Long?

Was this a ‘breakthrough’ on hearing aid pricing? Mull over the phrase from the KFF announcement (italics are mine), “Prices and features will vary for the new OTC hearing aids — much as they do for prescription aids. A pair of prescription devices typically sells for $2,000 to $8,000. Some of the technology found in the pricier prescription aids will be available in the cheaper OTC aids.” This was also true of the Personal Sound Amplification Product” (PSAP), described in 2017 as being helpful to people with mild to moderate hearing loss. What took the FDA 5 years to complete final review of essentially the same technology available in 2017, especially when they were ordered by Congress to do so? Note hat 48 million Americans have some degree of hearing loss (more than 400 million worldwide) and most do not have any hearing assistance devices. Note that uncorrected hearing loss is correlated with dementia.

Over the counter hearing aids – an absurdly long time in coming

Yesterday was a big day that should have happened several years ago. Finally. The US Food and Drug Administration approved the over-the-counter sale of hearing aids for those with mild-to-moderate hearing loss. Consider that this was first proposed in 2017! Consider the hearing aid ecosystem that has grown over many years to involve audiologists, a shrinking number of hearing aid makers – only five control 90% of the market! Consider the high price (upwards of $6000 per pair), limited insurance company assistance, and much individual isolation, misery, and family frustration. Consider the now-known and studied connection between untreated hearing loss and dementia.  Consider the multi-year delay between the onset of hearing loss for individuals, especially men, and actually doing anything about it. Consider the social isolation experienced by those with hearing loss.

Neosensory Clarify wristband (replaces hearing aids)

05/04/2022

Thrilled to announce that after years of research we are debuting our new product: the Neosensory Clarify. This is a stand-alone wristband that replaces the need for hearing aids.

As people grow older, they lose the ability to hear high frequency sounds, making it more difficult to understand conversations. Traditionally, the only solution has been hearing aids (~$5000). We set out to change that.

Ten apps to help those with hearing loss

Hearing aid users need smartphones and apps. The hearing aid industry has been undergoing disruption in recent years, most notably from the Over The Counter initiative and the growth of hearables, which have legitimized the use of devices hanging from, versus hidden inside the ear.    There are some apps that can enhance the quality of life of individuals with moderate or severe hearing loss. A number of these have been discussed by audiologists in the TruHearing website. Audiologists support the use of multiple types of apps for those with hearing loss, particularly those apps that come from the hearing aid manufacturers themselves. Experts note that these apps enable the user to tailor their experience to their own needs. Beyond the manufacturer offerings, there are a number of apps that can help people with a broad range of hearing loss – hear are ten of them in alphabetical order, content from the reviews or vendors:

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