InnerScope Hearing Technologies, Inc. Announces an Exclusive US Distribution Agreement with Speechlab Advanced Technologies BV, For Rights to Distribute their State of the Art Personal Sound Amplifier Product (PSAP)
ROSEVILLE, California, November 14, 2017 /PRNewswire/ —
InnerScope Hearing Technologies Inc. (OTCQB: INND) has announced an exclusive US Distribution with Speechlab Advanced Technologies BV. for resell rights of its BlackCat Personal Sound Amplifier Product (PSAP), which further expands the Company’s PSAP portfolio. The BlackCat is a Personal Audio Controller designed to help people understand speech better in challenging noisy environments. The BlackCat will be powered by Clementine Wear technology, a cloud-based service platform supported via Android app and was the 2017 winner of the National Science Foundation’s “Hearables Challenge”.
The PSAP market is estimated today to be 4.5 billion dollars in the United States alone. The exclusive agreement broadens InnerScope’s product line within this new emerging PSAP’s and Hearables markets. PSAP’s can be purchased directly by the consumer, without the need for a consultation from a hearing healthcare professional. With the average cost of hearing aids in the US costing more than $5,000 and the increased consumer interest since the Over-The-Counter (OTC) Hearing Aid Law was signed on August 18, 2017, (designed to provide greater public accessibility and affordability with hearing aids) PSAPs and Hearables are fast becoming an alternative hearing solution over the high cost of hearing aids. It is estimated approximately 15% of the world’s population (48 million in the US) has some form of hearing impairment that would consider using PSAP’s and or Hearables for helping with their hearing needs.
The BlackCat PSAP with its compact and sleek design is an innovative solution that helps the user understand others better in many different environments. The BlackCat is a unique HI-FI speech intelligibility solution that enhances the environment and suppresses ambient noise based on a personal profile per ear that matches the users hearing profile for ultimate audio experience and speech comprehension. The BlackCat uses a unique Line-1 technology, developed by a leading Dutch team of academic researchers. By means of this technology, voices can be amplified in a new way in relation to ambient noise allowing the user to hear the people around them without being bothered by the background noise. The BlackCat would be INND’s second PSAP product in addition to the “SnowOwl” PSAP, to be controlled by the user through the award-winning Clementine Wear app cloud-based audio service platform. The BlackCat is now available for purchase through the Company’s E-Commerce Shop on INND.com, and the SnowOwl is available for Pre-Order with the Expected Ship Dates at the beginning of January 2018.
“We are very excited to introduce BlackCat into our family of PSAP’s/Hearables product line,” said Matthew Moore, president of InnerScope Hearing Technologies. “We know that the BlackCat product alone, can help millions of the 48 million Americans that struggle hearing and understanding conversations in noisy environments. The BlackCat is a great product with a lot of unique features that gives the person the ability to understand speech in front of them while suppressing the noise coming from behind. For that reason, we expect to sell tens of thousands of BlackCat’s and it will be one of INND’s most requested product. We believe offering hearing solutions direct to the consumers based on consumer electronic products like our PSAP’s/Hearables, rather than costly medical devices, like hearing aids, will be more accessible, more acceptable, easier to use, and less expensive for consumers which will allow a greater number of people to enjoy hearing better in their daily lives. This BlackCat exclusive US distribution deal continues to add to INND’s core mission of becoming the main conduit to the North America market for manufacturing and distribution of all types of hearing assistance products”.
“We are very pleased having INND representing Speechlab and our BlackCat product exclusively in the US market” said Theo Bouwman, Executive Director of Speechlab BV. “We believe in the Direct To Consumer strategy that INND has laid out and look towards this relationship with great confidence.”
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, please visit http://www.innd.com
About Speechlab Advanced Technologies BV.
A privately-owned company which is located in Amsterdam, Netherlands. The company develops, produces and publishes software for consumer electronics.
SOURCE InnerScope Hearing Technologies, Inc.