FOR IMMEDIATE RELEASE, May 6, 2009
iHear Medical Launched to Develop New Hearing Aid Platforms.
New form factors for hearing enhancement to provide alternatives to conventional hearing aids
Dublin, CA., May 6, 2009 --The Center for Medical Device Innovations, Inc. (CMDI) announced today the launch of iHear Medical to develop new hearing enhancement devices for treating a multitude of hearing losses from mild to severe impairments. iHear Medical will be led by medical device entrepreneur Adnan Shennib, founder of InSound® Medical and the inventor of its flagship product the Lyric™.
Consumers today are offered a dizzying array of hearing aid options ranging from full-featured behind-the-ear (BTE) products to “invisible” and completely-in-the-canal (CIC) hearing aids which offer cosmetic appeal. “Offering new platforms with improved performance and affordability will be welcome by the tech savvy consumer looking for alternatives,” stated John R. Luna, CEO of SBCS Medical, LLC and a veteran executive in the hearing aid industry.
Current hearing aid devices incorporate the latest advances in digital signal processing (DSP), miniature transducers, directional hearing, wireless interface, and rechargeable batteries. Smaller version of current hearing aids offer improved cosmetic appeal but often at the expense of sound fidelity, reliability and affordability. “Today’s hearing aids employ the same basic architecture and technology principles that have been developed over a decade ago. Future consumer will demand improved and hassle-free hearing enhancement and we need to be ready for the coming wave,” stated Adnan Shennib, founder of iHear Medical.
“The next winner in the hearing space will acknowledge the changing needs of the new generation,” says Delain Wright, manger of the H-5 group who served as president of three hearing aid firms over the past 20 years. “Having watched Adnan Shennib stay at the forefront of hearing aid innovation I am confident that he has the vision and ability to redefine hearing care,” says Delain.
“The company’s initial focus will be on developing proprietary technology based on new understanding of consumer trends and behavior,” stated Shennib . The company will explore licensing and partnering opportunities with leading hearing aid manufacturers, distributors and healthcare providers.
About Hearing Loss
Recent studies and industry reports indicate that up to 55 million Americans, approximately one in three adults, suffer from some degree of hearing loss with prevalence predicted to rise significantly due to an aging population and the growing use of personal listening devices. Leading researchers are increasingly concerned that the US may be facing an epidemic of hearing impairment. Hearing loss is associated with a wide range of social, economic, and health problems caused by communication barriers and reduced access to health care for those suffering from hearing loss.
About iHear Medical and CMDI
iHear Medical is incubated by the Center for Medical Device Innovations, Inc. (CMDI)- founded in 2004 to develop transformational technologies that enable new business models in health care delivery. iHear Medical is led by Adnan Shennib, a medical device entrepreneur with extensive track record in inventing, starting and leading medical device innovations. Mr. Shennib holds over 50 issued and pending patents including the co-invention of the EarLens™ concept- developed while working at ReSound Corporation prior to its acquisition. More recently he founded InSound Medical and invented the Lyric™ hearing device, a recipient of the 2009 Medical Device Excellence Award. iHear Medical intends to develop new hearing enhancement devices in new form factors to resolve chronic issues experienced by hearing aid users.
Investor and General inquiries:
For more information on iHear Medical, visit:www.ihearmedical.com
iHear is a registered trademark of iHear Medical, Inc.
Lyric™ and InSound® are trademarks of InSound Medical, Inc.
EarLens™ is a trademark registered by Rodney Perkins.