iHear Medical Shatters Crowdfunding Goal with Innovative Web-Enabled Hearing Aid

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iHear exceeds funding goal with more than 900 Indiegogo backers -- underscoring the demand for affordable and direct-to-consumer hearing solutions.

hearing, hearing loss, hearing aids, aging, seniors, health, health care, affordable

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iHear Medical today announced that it has shattered its Indiegogo crowdfunding goal three-fold with over 900 backers pre-ordering the world's first Web-enabled hearing aid. iHear products are available directly to consumers and can be ordered on the Indiegogo website only until April 7th for shipping in the US commencing in August 2014.

iHear Medical’s ultimate goal is to improve access to hearing aids and to bring the cost of advanced hearing aids in line with the cost of prescription eyeglasses -- about $200.

iHear Medical is founded by Adnan Shennib, a serial entrepreneur who previously founded InSound Medical and created the Lyric hearing device. InSound was acquired by Sonova-Phonak in 2010 in a deal totaling $169 million.

“While 95% of individuals with hearing loss can be successfully treated with hearing aids, only 22% currently use them due to persistent barriers,” said Adnan Shennib, iHear Medical's Founder and CEO. “Obstacles to hearing aid acquisition by potential consumers include high cost, limited access, and the stigma associated with wearing a visible hearing aid. iHear's invisible hearing device and unique online business model removes the major barriers to hearing aid use.”

The iHEAR HD is a high-quality, 100% digital hearing aid about the size of a kidney bean. The device is miniaturized so it can be worn discretely inside the ear. Included in the purchase of an iHEAR device is the iHearTest, a USB device to self-administer a hearing test online at home from a PC or Mac. The USB device also programs the iHEAR HD.

iHEAR HD key benefits include:

  •     Affordability – Retails for $199 per hearing aid, saving users thousands of dollars
  •     Self-Adjustment -- iHear's online tools empower the consumer to adjust their own hearing aid setting at home
  •     Invisible -- miniature device fits discreetly inside the ear
  •     Direct to Consumer -- Saves time and money by delivering a hearing solution directly to the consumer’s home
  •     Professional Support – Technical and audiology support available to assist consumers

The iHEAR HD will be offered starting at $199 for a single hearing aid and $349 for a pair. iHear's products are available for pre-order at Indiegogo http://www.igg.me/at/ihearmedical until April 7, 2014.

About iHear Medical

iHear Medical is a venture-backed firm dedicated to addressing the global need for affordable and accessible hearing solutions. iHear's new products and business models are intended to break through persisting barriers that prevent people with hearing loss from acquiring and using hearing aids. These barriers include high cost, complex dispensing procedures, and the stigma of traditional hearing aids worn visibly behind the ear. iHear Medical is pioneering web-enabled hearing solutions with over 18 US and international patents issued and pending in its intellectual property portfolio. For more information on iHear Medical, visit: http://www.ihearmedical.com.

Press contact:

Adnan Shennib
President & Founder
iHear Medical, Inc.
(510) 276-4437

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