ROSEVILLE, Calif., Jan. 24, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB: INND) a manufacturer and Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered Hearing Aids, ("Hearing Products") announces its upcoming opening date on February 11, 2019 of its Elk Grove, California location, the next new audiological hearing aid retail clinic opened under its dba Value Audiology & Hearing Aid Center brand ("Retail Clinic"). The opening of the Elk Grove location, a suburb of Sacramento, and InnerScope's third and final Retail Clinic within the Sacramento media market area, marks a completion of InnerScope's first major milestone in a specific demographic area of its expansion rollout plan of opening 22 new Northern California audiological hearing aid retail clinics ("Rollout Plan").
InnerScope's Rollout Plan (as executed in the Sacramento Area) is based on quickly establishing a large footprint in a single media market area by opening multiple Retail Clinics strategically located to dominate and control all media in a specific demographic area over all other competitors combined. This Rollout Plan coupled with InnerScope's negotiated lucrative media agreements allows InnerScope to quickly grab market share and become the number one seller of Hearing Products in each specific media market area.
InnerScope founder's and its management believes its three strategically placed Sacramento Area Retail Clinics will generate over $4 million in annual gross revenues. Their belief is attributed to the founder's previous ownership of six Sacramento Area hearing aid retail clinics generating $6+ million in gross revenues. InnerScope's expects it can achieve with its three Retail Clinics, 80% of the $6+million total gross revenue number once it becomes the number one seller of Hearing Products in the Sacramento media market.
Additionally, InnerScope's management with over 150 years combined experience in Audiology, Hearing Aid Retail Sales, and Retail Store Expansion have identified as part of its Rollout Plan, Retail Clinic locations within media markets in the San Francisco Bay Area. The San Francisco Bay Area is divided into four distinctive media market areas, East Bay, South Bay, North Bay, and San Francisco Bay Area. InnerScope anticipates completion of each of these market areas by the end of 2019.
"InnerScope's Unique and Scalable Brick & Mortar Retail Clinics are an essential cornerstone to the Unique Selling Proposition of our Direct-to-Consumer Affordable and Accessible Hearing Aids," said Matthew Moore, CEO of InnerScope Hearing Technologies.
"Our objective is to open Brick & Mortar Retail Clinics all over the United States and in select International Markets. This will allow a Hearing-Impaired Customer to purchase an InnerScope Hearing Product from our many online sources, such as, our multiple eCommerce Stores or through MANY Authorized Retailers like Walmart, or at an InnerScope Brick & Mortar Retail Clinic Locations. With InnerScope's presence and exposure either online and/or in major media markets with Retail Clinics, all InnerScope customers will have the opportunity to receive complementary adjustments, follow-ups, and/or re-purchasing at any of the InnerScope Retail Clinics Nationwide or from InnerScope's uniquely designed Tele-Audiology System. InnerScope along with its strategic partnerships has the scalability, the management, the expertise, the strategy, and the patented hearing technology to deploy on a national rollout scale of Retail Clinics virtually in every major media markets to expand to over 1,000 locations. These 1,000+ Retail Clinic locations owned and operated by InnerScope, could service and satisfy millions of Hearing-Impaired customers," Mr. Moore concluded.
About InnerScope Hearing Technologies ("INND")
InnerScope Hearing Technologies (INND) is a rapidly expanding consolidator of the hearing aid industry. Management is applying decades of profitable industry experience and technology to an antiquated and disjointed industry, unlocking scale and efficiency, which will serve all of InnerScope's stakeholders. Its direct-to-consumer model is revolutionizing the industry with its Walmart.com relationship representing a paramount shift in the consumption of hearing aids by the hearing impaired.
In addition, InnerScope plans to continue to open, acquire, and operate a physical chain of audiological and retail hearing device clinics. InnerScope's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25 db or greater hearing loss across the entire hearing impaired vertical from R&D and manufacturing through direct consumer sales and services. For more information, please visit: www.innd.com
Safe Harbor
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.
Contact
InnerScope Hearing Technologies, Inc.
Investor Relations
Info@innd.com
916-218-4100
www.innd.com
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