Boulder, Colorado (PRWEB) February 22, 2014
Sophono, Inc., the leading manufacturer of magnetic bone conduction implants, accepted a seven-figure strategic investment as the company plans to more than triple its marketing and product effort in 2014.
Sophono President and Executive Chairman of the Board Dr. Markus Haller explained, "In our latest round of financing, and with our six-month restructuring complete, three groups bid to invest. They see what we see: An industry at a crossroads, moving from percutaneous to magnetic transcutaneous solutions for single-sided deaf and conductive/mixed hearing loss patients."
"This is the inflection point for transcutaneous bone conduction hearing," added Sophono CEO Peter Ruppersberg. "Until recently, our main competitor only offered a hearing solution with an abutment (also known as a "post" or "screw") protruding visibly through the skin of the patient's head.
With their strategic reversal and large budget, the competitor is now accelerating magnetic adoption faster than we could on our own. That’s why we're investing heavily to increase our share in a market that’s already more than $100 million a year. The market has the potential of being six times that size. It is a very exciting time for our company and, indeed, the industry."
For the majority of conductive, single-sided deaf, and mixed hearing-loss patients, bone conduction through the skin may be better and safer than bone conduction through an exposed abutment.
Today, more than 3,000 patients worldwide have Sophono magnetic implants. Sophono has 10 years' clinical research and product viability experience and – with its proprietary Transcutaneous Energy Transfer (TET™) Technology and significantly smaller magnetic implant versus the competition – is well positioned to take advantage of the industry shift to transcutaneous. The company’s external sound processor is the industry’s smallest and lightest, and thus is suited for children and for adults concerned about their appearance.
The company's magnetic implant kits are shipped sterilized, making it easier and more cost-effective for surgical staff. The implants have been FDA-cleared for 3 Tesla magnetic resonance imaging (MRI), the standard MRI industry scanner.
About Sophono, Inc.
Sophono is the Colorado-based medical device manufacturer of the leading magnetic abutment-free and implantable bone-anchored hearing aid (baha) on the market today. The company’s proven Transcutaneous Energy Transfer (TET™) Technology delivers maximum energy through the skin from the powerful and lightweight sound processor, which amplifies bone conduction sound to improve hearing for patients with conductive, single-ear deafness, and mixed hearing loss.
The Sophono system is the result of more than 10 years’ clinical research, more than eight years’ human clinical experiences, and is improving the lives of more than 3,000 patients worldwide.
Corporate headquarters and manufacturing operations reside in Boulder, Colorado. Sophono maintains a German office, works with more than 20 distributors, and actively sells in more than 36 countries. The company is hiring: See http://Sophono.com/Careers.