We have never before mentioned INNERSCOPE HEARING (OTCMKTS:INND) here on Street Register, but the stock caught our eye after demonstrating some significant bottom-bounce activity this week on heels of an important announcement.
The company develops Personal Sound Amplification Products (PSAPs), and has a B2B SaaS based Patient Management System software program, designed to improve operations and communication with patients. It also offers a Buying Group experience for audiology practices, enabling owners to lower product costs and increase their margins.
Recently, INNERSCOPE HEARING (OTCMKTS:INND) reported a successful launch of a Direct-To-Consumer (DTC) E-Commerce Store for its Personal Sound Amplification Products (PSAPs) and its Hearable/Wearable hearing products. The Company plans on adding new products to the website as they are developed. The Company promises that the launch of its E-Commerce DTC Store is only the beginning of its plans to expand infrastructure and growth capabilities.
InnerScope Hearing Technologies DTC E-Commerce Store launched with 2 ear-level PSAP products with universal fitting earpieces that fit approximately 94% of all consumers. In addition, the store also offers 2 Hearable/Wearable PSAP products that can be used to understand conversation better in a variety of situations and difficult listening environments. The Hearable/Wearable products, have Bluetooth functionality and are able to be adjusted by the user for more advanced features using a smartphone, as well as having the options for streaming capabilities via audio input for music/movies.
“We are very excited and thrilled when we went live with our E-Commerce DTC Store. Building an E-Commerce platform is part of the company’s vision for our strategic expansion and a key component to create a continuous ‘Revenue Eco-System’. This revenue-driven strategy and innovation allows us to stay competitive in this era of digital transformation by capturing the customer’s hearing needs and experiences at every stage of their journey to find a solution to help them hear better.” Said Matthew Moore, president of InnerScope Hearing Technologies.
Moore continued: “Sticker Shock of the cost of traditional hearing aids from $4,000 to $6,000 coupled with the inconvenience of making multiple trips to get the hearing aids fitted, results in 80% of the population that seek help, deciding not to get hearing aids or help of any kind. We have built our E-Commerce platform specifically for those individuals who are not receiving the help they need and deserve. The PSAPs and Hearables/Wearables technology products that we are offering through our DTC E-Commerce Store are fast becoming an alternative hearing solution over the high cost and inconvenience of hearing aids. It is estimated approximately 1.2 billion people are suffering with 25 db or greater hearing loss that could consider using PSAP’s and or Hearables for helping with their hearing needs.” (Source: PR Newswire)
It’s been awhile since we’ve come across a company so well diversified in the audiology business, and we’re anxious to follow along with the story as the company attempts to execute its strategy. That includes the opening, operating and expanding of a chain of audiological and retail hearing device clinics. Combine that narrative with building momentum on the chart, and we’ve got a company that we’ll be very interested to track in the future. Keep it locked to Street Register for updates, and we’ll deliver those important developments on INND to you as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in INND stock, short or long.