OTCStockReview.com News Commentary

ATLANTA, April 01, 2020 (GLOBE NEWSWIRE) -- Over the past three or four months, the news coming out of Congress has been all about the coronavirus pandemic, impeachment, and the Democratic primaries. One of the things the media missed was back in December Senate Finance Committee Chairman Chuck Grassley and Former Democratic Presidential contender Sen. Elizabeth Warren pressed the FDA to implement the Over The Counter Hearing Aid Act, signed into law by President Trump in 2017. Grassley and Warren's legislation represents a paradigm shift allowing consumers to buy hearing aids without the involvement of any of kind of hearing professional. The legislation was created to lower prices for consumers, because hearing aids are rarely covered by health insurance. Companies are already preparing for the change, which is expected to shift more of the decision-making to consumers.

More than 50 million people in the United States suffer from hearing impairment or hearing related issues. Worldwide, more than 1.2 billion people suffer from hearing impairment or hearing related issue. Unfortunately, most of these people will continue to suffer, since the price tag of most hearing devices are much more than they can afford, and they are not usually covered by insurance, or Medicare. According to AARP, only 20 to 30 percent of adults who could benefit from a hearing aid ever get one. Letting the big dog eat has not just been the strategy of hearing healthcare professionals, for the past several decades, the market has been dominated by six big manufacturers: Starkey Hearing Technologies, GN Store Nord, Sonova (OTC: SONVY), Sivantos, William Demant, and Widex, which was acquired by Sivantos in 2019 for more than 2 billion euros. These big manufacturers sell their hearing aids to audiologists, who test patients’ hearing and fit them with hearing aids in a brick-and-mortar store. A trend toward establishing better hearing healthcare has emerged, and investors have an opportunity to make great returns on their investment by investing in the right companies.

One company making hearing costs affordable for everyone is InnerScope Hearing Technologies (OTC: INND). InnerScope Hearing Technologies has announced over the last few months the launch of Hearing Loss Information Centers in kiosk inside Major “Big Box” retailers and pharmacies nationwide, including Walmart (NYSE: WMT) and Walmart Neighborhood Market locations nationwide starting as soon as Summer 2020. Lead by a team of professionals with more than 200 years of collective hearing aid industry experience, InnerScope Hearing Technologies is one of the first companies to offer premium FDA registered hearing aids and personal sound amplification products directly to the consumer. According to the Company's press releases, InnerScope's Hearing Loss Information Centers will encourage “Big Box” Retailers and Pharmacy customers to take immediate action for treating their hearing loss by either being referred locally to a contracted hearing healthcare professional, or by directly purchasing one of InnerScope's Hearing Products. These Hearing Loss Information Centers gives InnerScope instant brand awareness and direct marketing visibility to the hundreds of millions of Americans who shop at “Big Box” Retailers and Pharmacies, these shoppers will have access to the Hearing Loss Information Centers which are strategically positioned near the pharmacy counters.

According to consumeraffairs.com, hearing aids cost between $1,500 and $6,000. InnerScope Hearing Technologies hearing aids and hearing related products range from $299.00 to $999.00, which not only offers consumers a tremendous savings, but makes hearing affordable for millions of people who previously could not afford hearing products. Even without the Over the Counter Hearing Aid Act, in our opinion, InnerScope has a tremendous amount of potential to capture market share with its direct to consumer model. InnerScope Hearing Technologies is a fully reporting company filing audited financials. You can check them out on the SEC's EDGAR, and find out more about the company on their website at https://www.innd.com.

IntriCon Corporation (NASDAQ: IIN) through its Hearing Help Express subsidiary has provided its ITE and BTE hearing aids by mail, online, and phone to more than 750,000 customers. In addition to direct to consumer hearing products, IntriCon also makes and sells products for high growth markets, such as diabetes, drug delivery, surgical navigation, hearing health, and the professional audio communication market. On Monday IntriCon announced a change in the location of its Annual Meeting of Shareholders to be held on Tuesday, April 28, 2020 at 9:00 a.m., Central Time.

Due to the emerging public health impact of the coronavirus outbreak (COVID-19) and to support the health and well-being of its shareholders, employees and other meeting participants, the location of the Annual Meeting has been changed and will be held in a virtual meeting format only. Additional information is available on the Company's website at https://investorrelations.intricon.com/news-releases/news-release-details/intricon-corporation-announces-change-virtual-meeting-format-its.

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