InnerScope Hearing Technologies, Inc. Enters Into an LOI for Exclusive World-Wide License and Distribution Agreement for a Universal Tele-Audiology Solution for Remote Programming of Hearing Aid Devices via Computers and Smartphones
ROSEVILLE, California, January 3, 2018 /PRNewswire/ —
InnerScope Hearing Technologies Inc. (INND) announced today it has entered into an LOI for an exclusive world-wide licensing and distribution with Eltima Software GmbH (“Eltima”) for its FlexiHub Software (“FlexiHub”) as it relates to remote programming of hearing aid devices. The Agreement also creates a on-going technology partnership between the two companies for future advancements that can be used for the world-wide audiological and hearing aid industry.
This gives InnerScope a universal tele-audiology solution for professionals to remotely program hearing aid devices. The FlexiHub Software is a revolutionary USB over Ethernet technology allowing total secure access and connection remotely via the internet, for sharing of USB port devices to any remote computers located anywhere around the world or using an Android smartphone. InnerScope plans to market and distribute its Tele-Audiology solution to the global audiological community as well as integrating this advanced software technology for its direct-to-consumer and B2B audiological solutions. This will give the company a distinct advantage over the current global distribution and delivery of hearing aid devices. Tele-Audiology, is a subset of tele-health, referring solely to audiological practices.
The FlexiHub can be used by all of the tens of thousands hearing care professionals (“HCPs”) to be able to deliver more efficient professional hearing care to the consumer by streamlining the hearing aid fitting and adjustment process.
This new universal Tele-Audiology solution allows the HCPs to better leverage their time and the consumer’s time by reducing the number of clinic visits for fine-tuning adjustments of the hearing aid devices. The HCPs, by using the FlexiHub, can remotely program and adjust their patients hearing aid devices without the patient coming to their clinic. The FlexiHub allows the HCPs to use the same protocols in programming and adjusting hearing aid devices as if the patient was sitting right in front of them in their clinic. This will give HCPs the ability to grow their practice and increase their hearing care services.
InnerScope plans on marketing the FlexiHub not only to the world-wide HCPs but also for its e-commerce direct-to-consumer “DTC” hearing related products and Over-the-Counter “OTC” hearing aid devices. The FlexiHub will give the Company and its DTC customers the ability to have direct access to the HCPs which allows the hearing aid user to have more control over their hearing aid fitting and adjustment process while in their comfort of their own home or on the go by using their smartphone. InnerScope management believes this new type of communication and direct access relationship with the consumer will not only increase the number of sales of hearing aid devices across all distribution platforms, but will also provide a higher level of the hearing aid user satisfaction and more successful hearing outcomes.
InnerScope plans to monetize this exclusive Tele-Audiology solution through a monthly or yearly subscription to HCPs as well as hundreds of millions of the hearing aid users or the use of any hearing augmented technologies. The Company will also have the ability to white label the software and sublicense the use for other Tele-Audiology software platforms to global retailers and manufactures of hearing aid devices and other hearing augmented technologies.
“This unique software technology is just what the audiological community needed,” said Matthew Moore, CEO of InnerScope Hearing Technologies. “With the new advances in hearing technology by multiple manufactures, there is no universal solution for the professional or the consumer to manage these different technologies. The FlexiHub allows the Company to offer a game changing delivery and sales process for all hearing aid devices for the world of audiology as well the hundreds of millions of potential hearing aid device customers around the world to have better access to hearing solutions and audiology assistance without the need to visit their local audiological clinic.”
“With the addition of this new universal Tele-Audiology solution coupled with having the exclusive world-wide license and distribution, we are very proud that the Company continues to expand and deliver its vast number of products and services within the global audiological and hearing aid industry,” concluded Mr. Moore.
About InnerScope Hearing Technologies (INND):
InnerScope Hearing Technologies 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.
InnerScope intends 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 approximately 1.2 billion people around the globe that are suffering with 25 db or greater hearing loss. For more information, please visit http://www.innd.com
About Eltima Software GmbH:
Founded in 2000, Eltima Software GmbH is a Global Software Development Company, based in Berlin, Germany, with offices located in several European countries, specializing primarily in serial communication, mobile applications and software for all major platforms including Mac OS, Windows, Linux, and Android. The company over the past years of successful software development has earned a proven reputation of a reliable partner for delivering high quality software solutions across a broad spectrum of technologies to companies all over the world. Their featured clients are Nestle, Nike, Coco Cola, Yahoo!, Disney, and eBay. For more information, please visit http://www.eltima.com
This presentation contains forward-looking statements which relate to future events or InnerScope Hearing Technologies future performance or financial condition. Any statements that are not statements of historical fact (including statements containing the words “believes,” “should,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in InnerScope Hearing Technologies filings with the Securities and Exchange Commission. InnerScope Hearing Technologies undertakes no duty to update any forward-looking statements made herein.
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