InnerScope Hearing Technologies Inc. (OTCQB:INND)—a company that provides advertising and marketing services to hearing aid dispensaries—announced that it has entered into an LOI for an exclusive worldwide licensing and distribution with Eltima Software GmbH (“Eltima”)—a Germany-based global software development company—for its FlexiHub Software (“FlexiHub”) as it relates to remote programming of hearing aid devices. The Agreement also creates an ongoing technology partnership between the two companies for future advancements that can be used for the global audiological and hearing aid industries.
The LOI is designed to give InnerScope a universal tele-audiology solution for professionals to remotely program hearing aid devices, according to the announcement. The FlexiHub Software is a USB over Ethernet technology designed to give secure access and remote connection via the Internet for sharing of USB port devices to any remote computer or via an Android smartphone. InnerScope plans to market and distribute its tele-audiology solution to the global audiological community as well as integrating this software technology for its direct-to-consumer and B2B audiological solutions.
InnerScope’s tele-audiology solution is designed to allow hearing care providers (HCPs) to better leverage their time and their customers’ time by reducing the number of clinic visits for fine-tuning adjustments of hearing aid devices. HCPs, by using FlexiHub, will be able to remotely program and adjust their patients’ hearing aid devices without the patient coming to their clinic, according to the announcement. The FlexiHub is designed to allow HCPs to use the same protocols for programming and adjusting hearing aid devices as if the patient were sitting right in front of them in their clinic.
InnerScope plans on marketing the FlexiHub not only to HCPs, but also for its E-commerce, direct-to-consumer (DTC) hearing- related products and over-the-counter (OTC) hearing aid devices. According to the announcement, InnerScope believes this new type of communication and direct access relationship with the consumer will not only increase the number of sales of hearing aid devices across all distribution platforms, but will also provide a higher level of hearing aid user satisfaction and more successful hearing outcomes.
InnerScope plans to monetize this exclusive tele-audiology solution through a monthly or yearly subscription for HCPs and hearing aid device users. InnerScope will also have the ability to white label the software and sublicense its use for other tele-audiology software platforms, to global retailers and manufactures of hearing aid devices and other hearing-augmented technologies.
“This unique software technology is just what the audiological community needed,” said Matthew Moore, CEO of InnerScope Hearing Technologies. “With the new advances in hearing technology by multiple manufacturers, there is no universal solution for the professional or the consumer to manage these different technologies. The FlexiHub allows the company to offer a game- changing delivery and sales process for all hearing aid devices for the world of audiology, as well the hundreds of millions of potential hearing aid device customers around the world to have better access to hearing solutions and audiology assistance without the need to visit their local audiological clinic.
“With the addition of this new universal tele-audiology solution coupled with having the exclusive worldwide license and distribution, we are very proud that the company continues to expand and deliver its vast number of products and services within the global audiology and hearing aid industries,” said Moore.
Source: InnerScope Hearing Technologies, Eltima Software GmbH
Image: Eltima Software