InnerScope Hearing Technologies (OTCQB: INND) Signs Agreements to Distribute 200 of its Hearing Screening Kiosks & Hearing Products in 200 Pharmacy Locations with BONUM HEALTH
The Agreements gives InnerScope 200 locations to distribute in-store 200 of its Hearing Screening Kiosks and its Hearing Product Portfolio to BENZER PHARMACY and its independent and corporate-owned network of retail pharmacies
ROSEVILLE, Calif., Sept. 11, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB: INND) ("InnerScope") a manufacturer and Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered Hearing Aids, Personal Sound Amplifiers Products, ("Hearing Products") Hearing Related Treatment Therapies, Doctor-Formulated Dietary Hearing Supplements and proprietary CBD Oil ("Hearing Health Products") (collectively "Hearing Product Portfolio"), has signed Agreements (the "Agreements") with BONUM HEALTH, LLC ("BONUM HEALTH") for the initial order to distribute its fully automated (unattended) Point of Sale Hearing Screening Retail Kiosks ("Hearing Kiosks") and its affordable Hearing Product Portfolio (collectively "Hearing Kiosks and Point of Sale Products") to 200 BENZER PHARMACY locations (increased from 100 to 200 locations as previously announced) of independent and corporate-owned retail pharmacies located throughout the United States. The Agreements not only gives InnerScope a significant increase in market share and market penetration by having 200 new distribution locations for its Hearing Product Portfolio, but also a new in-store revenue model that can be easily duplicated in thousands of locations nationwide.
Given the initial order of the Agreements, including subsequent orders to immediately follow, InnerScope is currently ramping up production of its Hearing Kiosks and inventory of its Hearing Product Portfolio, and plans to immediately start delivering (within 30 days) to 120 BENZER PHARMACY locations in 29 states. BONUM HEALTH expects to increase the number to 500 pharmacy locations by the end of 2019 for InnerScope's Hearing Kiosks and Point of Sale Products, with the anticipation of increasing to thousands of locations starting in 2020.
InnerScope's Hearing Kiosk is designed to give the public FREE, EASY & CONVENIENT access to a quick 2-minute self-administered hearing-screening test as well as bringing awareness to the multiple health and cognitive issues caused by living with untreated hearing loss. But, more importantly, the function of the Point of Sale of the Hearing Kiosks, is to guide and direct the consumer to solve their hearing issues today (given, if they are having hearing issues) by choosing from InnerScope's affordable Hearing Product Portfolio to purchase at the store.
Mobeen Javed, CEO of BONUM HEALTH commented, "BONUM HEALTH is dedicated to provide patients with effective and affordable healthcare services, including hearing healthcare products and services. We are excited to include InnerScope's Hearing Kiosks and its many affordable Hearing Products as part of our many healthcare services we offer. InnerScope's Hearing Kiosks will be one of many key healthcare service components of BONUM HEALTH's new "Bonum Health Hubs" that will help revolutionize the 23,000+ independent pharmacies in the U.S. by offering a "one stop shop" for the majority of healthcare services. BONUM HEALTH HUB's located inside local pharmacies, will offer services to include, Hearing, Men/Women Health, Dental, Wellness, Education, Tele-Health and Testing Services. Currently, we are deploying BONUM HEALTH HUBs in Benzer Pharmacies in several states and we will be adding many more independent pharmacies over the next months."
InnerScope's Hearing Kiosks are ultimately part of BONUM HEALTH's overall plan to offer hearing healthcare services within its newly developed Bonum Health Hubs to be located inside thousands of independent pharmacies across the country. The Bonum Health Hub is a stand-alone healthcare model that gives the public one place to conveniently receive a variety of health related services. In addition, Bonum Health Hubs will offer access to healthcare that some consumers may not have.
"We are excited and thrilled about the Agreements with BONUM HEALTH and InnerScope being a key component of the Bonum Health Hubs," said Matthew Moore, CEO of InnerScope Hearing Technologies. "We know how important it is for the public to have easy and affordable access to proper healthcare services. We also believe Hearing Healthcare should be an essential part of any healthcare services offered. That's why, we are so passionate about our Hearing Kiosks, it's the gateway to providing easy and affordable access to better hearing healthcare products and services in this country."
"With the Hearing Kiosks driving the message of the potential multiple health and cognitive risks of untreated hearing loss coupled with the of "Point of Sale" function driving the sales, and given that 3 out of 5 people over 60 years of age has some hearing issues, we anticipate selling thousands of dollars of InnerScope's affordable Hearing Product Portfolio at each pharmacy location per month. Once the first 120 out of the 200 Hearing Kiosks are deployed, we believe this not only gives InnerScope a competitive advantage over all other DTC hearing aid retailers, but also gives InnerScope a brand recognition of manufacturing and distribution of high quality affordable Hearing Products," concluded Mr. Moore.
About InnerScope Hearing Technologies (OTCQB: 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, Sears.com and Kmart.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 clinics aid audiological and retail hearing. InnerScope's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25db 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.com. For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @inndstock Page. https://twitter.com/inndstock
About Bonum Health
Bonum Health is a Telehealth provider that gives its members an access to licensed medical doctors 24/7/365 via phone call or video call. Bonum Provides access to its platform via Web and Phone App available both on IOS and Android and can treat Primary Care, Behavioral Health and Dermatology Conditions. Bonum Health Offers the most Cost Effective pricing through their Subscription and Per Consult Model.
About Benzer Pharmacy
Founded in 2009, Benzer Pharmacy is a chain of independent retail pharmacies specializing in compounding and specialty medication. Currently, there are 82 corporate-owned and 34 franchise locations situated throughout 29 states, including Florida, Michigan, Virginia, West Virginia, North Carolina, Tennessee, Texas, Georgia, Nevada, Louisiana, New York, Missouri, Mississippi, Maryland, Ohio, Indiana, and Idaho. Projections call for continued rapid growth as the organization seeks to substantially increase its customer base, while ensuring experiences match expectations at every touch point. For more information, please visit: https://www.benzerpharmacy.com/
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.
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @inndstock Page.
Released September 11, 2019