InnerScope Hearing Technologies Inc (OTCQB: INND), a Calif-based marketing firm for the retail hearing aid dispensing community, announced that it is entering into a supply and distribution agreement with Blue-Gear Inc, a Minn-based company that develops personal sound amplifiers, for international rights of Blue-Gear’s Personal Sound Amplifier Products (PSAP). In addition to the agreement, Blue-Gear’s technical team will be working with InnerScope Hearing Technologies staff to develop its own line of PSAP devices for international distribution.

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The agreement expands and broadens InnerScope Hearing Technologies’ presence in the new emerging PSAP’s and hearables markets. Blue-Gear reportedly complies and adheres to all FDA regulations regarding the labeling requirements of PSAP’s, according to the announcement.

“With the increasing global number of hearing impaired people coupled with the high cost of hearing aids, the market for hearing amplifiers is expected to steadily grow,” said Matthew Moore, president of InnerScope Hearing Technologies. “A new generation of hearing amplifiers that utilize wireless technologies are now offering alternatives to people with hearing loss that they never had before. The agreement with Blue-Gear Inc. positions InnerScope Hearing Technologies to take part in this global growing demand for hearing amplifiers. By year 2025 more than 900 million people in the world will suffer from hearing loss and our Company will be able to offer alternative hearing solutions to those people.”

“We are very excited to work with InnerScope Hearing Technologies,” said Larry Hagen, MA, president of Blue-Gear Inc who was the founder of MicroTech (now owned by Starkey). “We recognized this as a strategic alliance for both companies, especially with converging technologies and diverging distribution channels for the growing PSAP market. Both companies have strong brands and relationships that are deeply-rooted within the hearing industry and this allows for new distribution channels to reach the many millions of people who need hearing help around the world.”

Source: InnerScope Hearing Technologies, Blue-Gear Inc