- InnerScope Hearing Technologies expects to reach millions of potential hearing aid candidates with its affordable, self-fitting hearing aid products prior to the Over the Counter Hearing Aid Act going into effect.
- InnerScope Hearing Technologies anticipates a significant increase in sales revenue as hundreds of millions of Walmart shoppers will have access to the Wellness Screening Kiosks.
- More than 3 million unique monthly visitors already use Pursuant Health’s Self-Service Wellness Screening Kiosks located in Walmart stores.
ROSEVILLE, Calif., March 30, 2020 (GLOBE NEWSWIRE) -- InnerScope Hearing Technologies Inc. (OTC: INND) (InnerScope) announced today it has entered into an agreement with Pursuant Health Inc. to launch its Hearing Loss Information Center to all of Pursuant Health’s Self-Service Wellness Screening Kiosks located inside 4,618 Walmart and Walmart Neighborhood Market locations nationwide by June 2020.
InnerScope’s Hearing Loss Information Center will encourage Walmart customers to take immediate action for treating their hearing loss by either being referred locally to a contracted hearing healthcare professional, or by directly purchasing one of InnerScope’s Hearing Products. InnerScope’s management team believes the Hearing Loss Information Center will become a trusted source for providing hearing healthcare information, as well as information on the multiple health and cognitive risks associated with untreated hearing loss. This agreement gives InnerScope instant brand awareness and direct marketing visibility to the hundreds of millions of Americans who shop at Walmart, as well as the more than 45 million Walmart pharmacy shoppers who have access to Pursuant Health’s Wellness Screening Kiosks strategically positioned near the pharmacy counters.
Prior to the Over the Counter Hearing Aid Act going into effect, InnerScope plans to utilize Pursuant Health’s Wellness Screening Kiosks to conduct a massive Hearing Loss Awareness Marketing Campaign to improve the quality of life of the 48 million Americans that has some form of hearing loss. The Over the Counter Hearing Aid Act was designed to enable adults with perceived mild-to-moderate hearing loss to access Over the Counter hearing aids without being seen by a hearing care professional. The new law, which was sponsored by Senators Elizabeth Warren (D-Mass) and Chuck Grassley (R-Iowa), comes on the heels of the elimination of the “physician waiver” system, which had required consumers first to seek a physician for a medical evaluation or sign a waiver prior to obtaining a hearing aid.
InnerScope will also sell its Hearing Products to Walmart customers on Walmart.com as a wholesale Direct-Ship Vendor. InnerScope is taking ground breaking steps to be the only hearing healthcare company leading the way to deliver easy and convenient access to hearing loss information and affordable Hearing Products for the 48 million Americans who have some form of hearing loss. The management team at InnerScope believes launching the Hearing Loss Information Center, along with its Hearing Loss Awareness Marketing Campaign, within the 4,618 Wellness Screening Kiosks inside all Walmart stores will establish the Company as a disruptive industry leader in the current $10 billion-dollar global hearing device industry.
Matthew Moore, CEO of InnerScope, said, "This opportunity to integrate our Hearing Loss Information Center into Pursuant Health’s vast network of over 4600 Wellness Screening Kiosks positions us as the only hearing healthcare company to deliver easy and convenient access to affordable hearing products, as well as hearing loss information, for the 48 million Americans who have some form of hearing loss." Mr. Moore continued, "After we launch this campaign on June 1st, we anticipate a significant increase in sales revenue as the millions of Walmart customers who use Pursuant Health’s Wellness Screening Kiosks have access to our affordable, FDA registered hearing aids and personal sound amplification products. With hundreds of millions of in-store Walmart customers, as well as the millions of customers who can see our products on Walmart.com, we are making great strides toward improving the quality of life for people who suffer from hearing impairment and hearing related issues.
About InnerScope Hearing Technologies (OTC: INND)
InnerScope Hearing Technologies as a manufacturer, distributor and retailer of “Self-Fitting” FDA-Registered Hearing Aids, “Self-Fitting” Personal Sound Amplifiers Products, Hearing Related Treatment Therapies, Doctor-Formulated Dietary Hearing & Tinnitus Supplements, proprietary CBD Oil for Tinnitus and assorted Ear & Hearing Aid Related Products (collectively “Hearing Products”) is on a mission to improve the quality of life of the more than 1.2 billion people worldwide who suffer from hearing impairment and hearing related issues. As a rapidly expanding consolidator of the hearing aid industry, the management team of InnerScope is applying decades of industry experience, as well as new technology, to provide affordable FDA registered hearing aids and personal sound amplification products directly to the consumer. InnerScope products are available on Walmart.com, Sears.com, and Kmart.com, as well as retailers and pharmacy chains nationwide. InnerScope believes it is well positioned to benefit from the Over the Counter Hearing Aid Act, which is designed to enable adults with perceived mild-to-moderate hearing loss to access Over the Counter hearing aids without being seen by a hearing care professional.
InnerScope plans to continue to open, acquire, and operate a physical chain of audiological and retail hearing aid clinics. InnerScope' mission is to serve the approximately 1.2 billion people worldwide who are suffering with dB or greater hearing loss. For more information, please visit www.innd.com. For the most up to date information about InnerScope, please visit and follow our official Twitter account @inndstock at https://twitter.com/inndstock.
About Pursuant Health, Inc.
Based in Atlanta, Georgia, Pursuant Health, Inc. develops and manufactures self-service health and wellness testing kiosks. The Company’s wellness screening kiosk is a one-stop shop for preventive care and risk assessment. With a national network of thousands of health kiosks located within retail pharmacies, users can complete a non-invasive biometric screening that includes key health indicators, such as weight, blood pressure, BMI and pulse. Pursuant Health's kiosks also include an NCQA-certified health risk assessment, which allows users to engage with their health, discover possible risk factors, and intervene before future complications can arise. All of Pursuant Health's kiosk-based screenings take an average of 5-7 minutes to complete, with results available immediately following completion. Pursuant Health's platform consists of multiple channels, including a unique kiosk network of over 4,600 FDA-cleared, HIPAA-compliant self-service medical devices located within 10 miles of 79% of the U.S. population. For more information, please visit www.pursuanthealth.com.
About Walmart Inc.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, over 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. With fiscal year 2020 revenue of $524 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
Safe Harbor
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Any statements that are not historical facts contained in this press release are also "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or maintain contractual relationships with vendors and customers, competition, general economic conditions and other factors that are detailed in our periodic reports filed with the Securities and Exchange Commission ("SEC"). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA, Securities Act and Securities Exchange Act.
Contact:
InnerScope Hearing Technologies, Inc.
Investor Relations
Info@innd.com
916-218-4100
www.innd.com
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTC: INND), please visit and follow our Official Twitter account @inndstock Page.
https://twitter.com/inndstock
Walmart.com
Sears.com
Kmart.com
48 million Americans that has some form of hearing loss
Over the Counter ("OTC") Hearing Aid Act
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/53a450fd-cb8e-4f35-85e9-8554b71d6bd0
https://www.globenewswire.com/NewsRoom/AttachmentNg/785cc07d-97af-4840-88f0-6ef5b6566b90
https://www.globenewswire.com/NewsRoom/AttachmentNg/1c9dbba8-6caa-4452-a3df-c582279b5150
https://www.globenewswire.com/NewsRoom/AttachmentNg/05ca5c4b-dae2-4572-a7fe-e026b5319444