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ROSEVILLE, Calif., Feb. 25, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB: INND) a manufacturer and Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered Hearing Aids, Personal Sound Amplifiers Products and Hearing Related Treatment Therapies, announced the signing of a Joint Venture Marketing Agreement ("JV Agreement") with American Seniors Association Holding Group Inc. ("AMSA") (OTC: AMSA). The JV Agreement gives AMSA's members access to InnerScope's DTC High-Quality Patented FDA-Registered Hearing Aids. Additionally, the JV Agreement includes both InnerScope and AMSA to actively engage in joint marketing efforts to AMSA members for increasing the awareness of the multiple health risks of untreated hearing loss and the exclusive InnerScope Hearing Aid Benefit now available to its members.
With AMSA instituting an exclusive InnerScope Hearing Benefit for its members allows InnerScope the ability to directly tap into its exact targeted customer with AMSA's senior demographic audience. According to the Hearing Loss Association of America approximately 20% of the U.S. population or 48 million Americans have hearing loss, which is the 3rd most prevalent health condition in older adults. Given, that hearing loss increases with age, statistics reported from the National Institute on Deafness and Other Communication Disorders ("NIDCD") is about 36% of the senior population age (50+) has a speech-frequency hearing loss in both ears.
Fortunately, InnerScope is in prime position with its three-year JV Agreement to capitalize on the NIDCD hearing loss statistics with AMSA's 1.2 million senior membership contact database. Given no increase in the membership base over the three-year term of the JV Agreement these people could potentially purchase InnerScope Hearing Aids at a average price estimated at $1,200 dollars per transaction, (average price of $1,200 x 432,000 people that may have a hearing loss according to NIDCD statistics) the JV Agreement for InnerScope could potentially be worth $500+ Million Dollars.
AMSA also known as American Seniors Association can be found at www.americanseniors.org ("ASA") is one of the fastest growing senior advocacy in the nation. ASA is an alternative choice for millions of seniors (50+) to AARP membership and offers a variety of benefit plans in Travel, Home & Auto, Security, Health & Wellness (medical, cancer, dental, vision). ASA will include InnerScope's High-Quality Patented FDA-Registered DTC Hearing Aids in their Health & Wellness Top Benefits Category for its membership as well as to be a Featured Benefit on its webpage and through its customer service and information call-in line. As part of the JV Agreement, InnerScope will also be assisting in recruiting new ASA members to give them the same opportunity to receive the InnerScope Hearing Benefit as the current members.
"We are excited to work with InnerScope to offer our members this much needed Hearing Benefit," said Paul Cornell, CEO of American Seniors Association Holding Group Inc. "We believe there is a great number of members that would benefit from InnerScope's direct-to-consumer high-quality patented hearing aids. As a Company, we are committed to offer benefit choices of products and services that create better health and well-being for our members. We feel strongly about the growing number of health issues for the tens of millions of Americans caused by untreated hearing loss, mainly due to the traditional high cost of hearing aids. American Seniors Association, together with InnerScope our proud offer this Hearing Benefit to our membership for an alternative choice to treat their hearing loss at a fraction of the cost."
"Teaming up with American Seniors Association and offering a Hearing Benefit to their members just made sense," said Matthew Moore, CEO of InnerScope Hearing Technologies. "The high costs of the average pair of traditional hearing aids are close to $5,000 and InnerScope is delivering to the ASA members the same type of high-quality hearing aids at an average price of $1,200 for a pair."
"InnerScope believes and expects with the JV Agreement it won't be too long before the word gets out about ASA's InnerScope Hearing Benefit and not only we are going to quickly be inundated with hundreds of hearing aid orders, but also many people will be calling ASA to become a member just for the Hearing Benefit alone. With the revenue potential the JV Agreement offers to InnerScope, we are very excited about the prospect of achieving even a fraction of its potential. This JV Agreement along with other strategic partnerships and wholesale/retail agreements, like Walmart.com, InnerScope is poised and positioned to start taking a fraction of this ever growing $10+ Billion Dollar Hearing Aid Industry," Mr. Moore concluded.
About InnerScope Hearing Technologies ("INND")
InnerScope Hearing Technologies (OTCQB: INND) is a rapidly expanding consolidator of the hearing aid industry. 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 InnerScope'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 by the hearing impaired.
In addition, InnerScope plans to continue to open, acquire, and operate a physical chain of audiological and retail hearing device clinics. InnerScope'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.comFor Up-To-Date Information Follow our Official Twitter account @inndstock Page https://twitter.com/inndstock
About American Seniors Association("AMSA")
American Seniors Association and American Seniors Association Holding Group Inc. its parent company is publicly traded company on the OTC Stock exchange under the symbol AMSA. American Seniors Association an alternative choice for seniors (50+) offers a wide array of benefits for it members including Medicare/insurance plans, roadside assistance, restaurants, travel benefits, hunting & fishing discounts and wireless cell phone plans for only $15 a year, compared to AARP. For more information, please visit: www.americanseniors.org
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.
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