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InnerScope Hearing Technologies (OTC: INND) Partners With NUHEARA For Licensing FDA-Cleared Self-Fitting OTC Hearing Aid Technology
InnerScope Hearing Technologies (OTC: INND) Partners With NUHEARA For Licensing FDA-Cleared Self-Fitting OTC Hearing Aid Technology.
About this update from Innerscope Hearing Technologies, Inc.
[{"type":"text","content":"\n ROSEVILLE, CA, Dec. 20, 2022 (GLOBE NEWSWIRE) -- InnerScope Hearing Technologies Inc. (OTC: INND) (\"InnerScope\"), an emerging and disruptive leader in the Over-the-Counter (OTC) Hearing Aid space today announced it had signed a Memorandum of Understanding (\"MOU\") with NUHEARA Limited (ASX: NUH) (\"NUHEARA\"), a Medical device and consumer electronics manufacturer listed on the Australian Stock Market. The MOU intends to create a strategic partnership to build a strong market share in the US Over-the-Counter (\"OTC\") hearing aid market. The partnership gives InnerScope licensing rights, clinical know-how, and support to its patents and NUHEARA's FDA-Cleared OTC Self-Fitting Hearing Aid Technology to be integrated into InnerScope's OTC Hearing Aids. In addition, InnerScope has status as the exclusive 3rd-party retail chain distributor for the sale of NUHEARA's products, including its FDA-Cleared OTC Self-Fitting HP Hearing PRO hearing aid (Nuheara Receives Historic FDA Clearance for Self-Fitting and Launches HP Hearing PRO). NUHEARA has a license agreement with HP Inc., to manufacture and market OTC hearing aid products under the HP brand, the HP Hearing PRO powered by Nuheara  (Nuheara Enters Worldwide Trademark License Agreement with HP Inc.). Moreover, InnerScope will be able to market and sell HP-branded OTC FDA-Cleared Self-Fitting Hearing Aids products by NUHEARA in the US. InnerScope will also provide first-level customer and warranty support for NUHEARA's products sold through InnerScope's sales channels. The partnership also provides a major expansion for NUHEARA's footprint in the US OTC hearing aid market. NUHEARA has a partnership with Best Buy to sell its products in 300 Best Buy locations. This new partnership will allow NUHEARA products to be sold through InnerScope's ever-growing wholesale/retail distribution network of major retailers, healthcare service companies, and pharmacy chains (\"InnerScope's Distribution Network\"). Justin Miller, Co-Founder and Managing Director of NUHEARA, commented, \"We are delighted to enter into this partnership with InnerScope, significantly increasing NUHEARA's retail points of sale in the US OTC hearing aid market. InnerScope has been a leader and innovator in the US hearing industry by bringing affordable hearing aid technology direct to US consumers. We look forwar...