Loading, Please Wait...
Company continues its path as industry consolidator with its retail acquisitions and expansion plans.
ROSEVILLE, Calif., Sept. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--InnerScope Hearing Technologies Inc. (OTCQB: INND) announced today it has signed a definitive agreement (the "Agreement") to acquire all the assets of Kathy L. Amos Audiology (the "Practice") based in Walnut Creek, California. The Practice provides retail hearing aid sales and audiological services for the entire East Bay of the San Francisco area. This acquisition further strengthens the Company's position in its physical retail presence and compliments the recent LOI announcement to acquire Value Hearing LLC and its two locations.
InnerScopes' acquisition of the Practice is part of its ongoing expansion strategy and plan of owning audiological and retail hearing aid clinics throughout the USA. InnerScope management has previously successfully owned and operated clinics in the East San Francisco Bay Area, making this a strategic acquisition in one of the most affluent and densely populated markets in the USA.
Additionally, the Company's appointment of Kathy L. Amos, Au.D., Doctor of Audiology as InnerScope's Director of Audiology not only gives InnerScope a wide breadth of hearing aid industry experience and reputation but also provides more growth and revenue capabilities for the Company. In this newly created role, Amos will be tasked with creating and implementing an operational strategy for all of InnerScope's audiological services both on and off-line. Dr. Amos will focus on improving the integration of hearing related services, customer communications and collaboration across all divisions. Perhaps most importantly, she will be focused on creating an efficient system for billing Medicare and other medical insurers for all audiological services company wide. Dr. Amos will be integral in furthering our expanding relationship with Walmart.com.
"The acquisition of the Practice coupled the appointment of Dr. Amos as our Director of Audiology, is significant progress in our consolidation of the industry, creating competitive advantages of scale and broader, integrated capabilities for our customers," said Matthew Moore, CEO of InnerScope Hearing Technologies. "I am excited to have the Kathy's team joining InnerScope and especially look forward to adding Dr. Amos' talent and experience to InnerScope's management as Director of Audiology. We intend to realize significant revenue from this acquisition given that we know this market very well," Mr. Moore concluded.
About InnerScope Hearing Technologies (INND):
InnerScope Hearing Technologies (INND) is a rapidly expanding consolidator of the hearing aid industry in the USA. Management is applying decades of profitable industry experience and technology to an antiquated and disjointed industry, unlocking scale and efficiency, which will serve all of the Company's stakeholders. Its direct-to-consumer model is revolutionizing the industry with its Walmart.com relationship representing a paramount shift in the consumption of hearing aids to the hearing impaired.
In addition the Company plans to continue to open, acquire, and operate a physical chain of audiological and retail hearing device clinics. The Company's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25 db or greater hearing loss across the entire hearing impaired vertical from R&D and manufacturing through direct consumer sales and services. For more information, please visit: www.innd.com
About Kathy L. Amos Audiology:
Kathy L. Amos, Audiology offers Audiology Services & Hearing Aids and has been the premier audiology practice in Walnut Creek, California. The practice provides comprehensive ear care along with actively participating in the prevention of hearing loss through the provision and fitting of hearing protective devices, consultation on the effects of noise on hearing, and consumer education.
Kathy L. Amos, Au.D. FAAA. has been helping the hearing impaired in the East Bay area community for almost 28 years. Her practice began as a California licensed hearing aid dispenser, furthering advancing when she received her Masters in Audiology MA. from San Jose State University in 1998 and concluding with her Doctorate in Audiology Au.D. in 2011 from the University of Florida. For more information, please visit: www.amosaudiology.com
This presentation contains forward-looking statements, which relate to future events or InnerScope Hearing Technologies future performance or financial condition. Any statements that are not statements of historical fact (including statements containing the words "believes," "should," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in InnerScope Hearing Technologies filings with the Securities and Exchange Commission. InnerScope Hearing Technologies undertakes no duty to update any forward-looking statements made herein.
InnerScope Hearing Technologies, Inc.