IntriCon and The Academy of Doctors of Audiology Announce Joint Venture
September 14 2015 - 8:00AM
Business Wire
IntriCon Corporation (NASDAQ: IIN) and The Academy of Doctors
of Audiology (ADA), today announced a joint venture to provide
hearing instruments and educational resources that offer
unprecedented value for audiologists and their patients.
Based in Arden Hills, Minn., the joint venture operates under
the name earVenture LLC. It capitalizes on IntriCon’s established
reputation as a leading provider of high-quality, low-cost hearing
aids and the ADA’s respected position as the only national
membership association focused on ownership of the audiology
profession through autonomous practice and clinical excellence.
“IntriCon is excited to partner with the highly regarded ADA—and
earVenture is a testament to each organization’s strong commitment
to providing audiologists access to high-quality hearing
instruments and educational resources at attractive price points,”
said Mark Gorder, President and Chief Executive Officer of
IntriCon. “IntriCon’s long-standing design and development strategy
focuses on hearing aid platforms driven by outcomes-based features.
This philosophy has enabled us to offer technically advanced
products to independent audiologists at a cost significantly lower
than competing devices.”
Initial earVenture product offerings will help audiologists
compete in any market and help underserved or never-served
populations who can benefit from hearing aids. The devices offer
value-added hearing aid features for enhanced patient performance,
including: eight channels, noise suppression, adaptive feedback
management, directional microphones and telecoils.
Said ADA President Kim Cavitt, Au.D., “ADA is delighted to
partner with IntriCon to bring earVenture and its products to
audiologists and their patients. This organization offers
high-quality hearing instruments at unbundled prices, so
audiologists can deliver the model of care of their choosing and
focus on the services that provide better patient outcomes at every
price point.”
ADA member audiologists may pre-order earVenture hearing
instruments through September 22, 2015, at www.earventure.net
(while supplies last). Other providers may register and order
beginning September 23.
Concluded Gorder, “This is another significant milestone in our
strategy to drive our hearing health business. Importantly, we
believe this partnership is further evidence that the hearing
health market is changing and opportunities exist in various
emerging value channels, which, as a company, we are
well-positioned to address.”
About earVentureearVenture was founded in 2015 to deliver
innovative resources and technology to audiologists, so they can
deliver exceptional value to their patients. Our unique business
model was developed by IntriCon, a globally recognized leader in
the manufacture of high-quality, hearing instruments and
components, and the Academy of Doctors of Audiology (ADA), the
leading national organization dedicated to autonomy and best
clinical and business practices in audiology. earVenture recognizes
the critical role that audiologists play in helping people hear
better. For this reason, earVenture does not advertise to
consumers, nor does it allow its products to be sold over the
counter or directly to consumers. To discover value beyond the
device, visit www.earventure.net.
About Academy of Doctors of AudiologyThe Academy of
Doctors of Audiology is a national membership association focused
on ownership of the audiology profession through autonomous
practice and clinical excellence. ADA dedicated to the advancement
of practitioner excellence, high ethical standards, professional
autonomy and sound business practices in the provision of quality
audiologic care. ADA offers programming and support to those
audiologists and students who are, or who desire to be, independent
practitioners in whatever setting they choose to practice. For more
information about the ADA, visit www.audiologist.org.
About IntriCon CorporationHeadquartered in Arden Hills,
Minn., IntriCon Corporation designs, develops, manufactures and
distributes miniature and micro-miniature body-worn devices. The
company is focused on three key markets: medical, hearing health
and professional audio communications. IntriCon has facilities in
the United States, Asia and Europe. The company’s common stock
trades under the symbol “IIN” on the NASDAQ Global Market. For more
information about IntriCon, visit www.intricon.com.
Forward-Looking StatementsStatements made in this release
and in IntriCon’s other public filings and releases that are not
historical facts or that include forward-looking terminology are
“forward-looking statements” within the meaning of the Securities
Exchange Act of 1934, as amended. These forward-looking statements
may be affected by known and unknown risks, uncertainties and other
factors that are beyond IntriCon’s control, and may cause
IntriCon’s actual results, performance or achievements to differ
materially from the results, performance and achievements expressed
or implied in the forward-looking statements. These risks,
uncertainties and other factors are detailed from time to time in
the company’s filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the year ended
December 31, 2014. The company disclaims any intent or obligation
to publicly update or revise any forward-looking statements,
regardless of whether new information becomes available, future
developments occur or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20150914005112/en/
IntriConScott Longval, CFO,
651-604-9526slongval@intricon.comorPadillaCRTMatt Sullivan,
612-455-1700matt.sullivan@padillacrt.com
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