InnerScope Hearing Technologies Enters International Personal Sound Amplification Product (PSAP) Market with International Supply and Distribution Agreement
Agreement with Blue-Gear, Inc. Paves Way into $4.5 Billion Market
ROSEVILLE, CA–(Marketwired – October 04, 2017) – InnerScope Hearing Technologies Inc., (OTCQB: INND) announced today that they are entering into a supply and distribution agreement with Blue-Gear Inc. for international rights of Blue-Gear’s Personal Sound Amplifier Products (PSAP). In addition to the agreement, Blue-Gear’s technical team will be working with InnerScope Hearing Technologies staff to develop its own line of PSAP devices for international distribution.
Given the rapid growing PSAP market that is estimated to be 4.5 billion dollars in the US market alone, the agreement expands and broadens InnerScope Hearing Technologies presence in the new emerging PSAP’s and Hearables markets. PSAP’s can be purchased directly by consumers, similar too other over the counter products. Blue-Gear fully complies and adheres to all FDA regulations regarding the labeling requirements of PSAP’s.
“With the increasing global number of hearing impaired people coupled with the high cost of hearing aids, the market for hearing amplifiers is expected to steadily grow”, said Matthew Moore, President of InnerScope Hearing Technologies. “A new generation of hearing amplifiers that utilize wireless technologies are now offering alternatives to people with hearing loss that they never had before. The agreement with Blue-Gear Inc. positions InnerScope Hearing Technologies to take part in this global growing demand for hearing amplifiers. By year 2025 more than 900 million people in the world will suffer from hearing loss and our Company will be able to offer alternative hearing solutions to those people.”
“We are very excited to work with InnerScope Hearing Technologies,” said Larry Hagen, M.A., President of Blue-Gear Inc. “We recognized this as a strategic alliance for both companies especially with converging technologies and diverging distribution channels for the growing PSAP market. Both companies have strong brands and relationships that are deeply-rooted within the hearing industry and this allows for new distribution channels to reach the many millions of people who need hearing help around the world.”
About InnerScope Hearing Technologies (INND):
InnerScope Hearing Technologies (INND) is a technology driven company with highly scalable B2B and B2C solutions. The Company offers a B2B SaaS based Patient Management System (PMS) software program, designed to improve operations and communication with patients. INND also offers a Buying Group experience for audiology practice, enabling owners to lower product costs and increase their margins. INND will also compete in the DTC (Direct-to-Consumer) markets with its own line of “Hearables”, and “Wearables” and revolutionary APPs on the iOS and Android markets.
INND has plans on opening, operating and expanding a chain of audiological and retail hearing device clinics. INND’s seasoned team of professionals, with collectively over 200+ years of experience in the hearing aid industry, including successful operations in hearing aid manufacturing and retail store management. Our team has the knowledge, relationships, and the experience to quickly deploy new products and software to serve the over 360 million people around the globe that are hearing impaired. For more information, about InnerScope Hearing Technologies and our PSAP products please visit www.innd.com
About Blue-Gear, Inc.:
Blue-Gear, Inc. specializes in research, design, development and manufacturing of Personal Sound Amplifier Products for use as hearing amplifiers and hearing protection devices.
For more information, please visit www.Blue-Gear.com