IntriCon Supports Recommendations of National Academies of Sciences, Engineering & Medicine to Improve Hearing Health Care Ac...
June 07 2016 - 08:00AM
Business Wire
Report Aligns with Company’s Lower-Cost
Hearing Health Initiatives
IntriCon Corporation (NASDAQ:IIN), a designer, developer,
manufacturer and distributor of miniature and micro-miniature
body-worn devices, today said that it supports the key change
recommendations recently issued by the National Academies of
Sciences, Engineering and Medicine to improve hearing health access
and affordability for consumers.
On June 2, 2016, the group published its Hearing Health Care for
Adults: Priorities for Improving Access and Affordability
report—which studied hearing health care for adults in the United
States. Using a set of guiding principles to help shape its work,
the committee recommends key institutional, technological, and
regulatory changes that would enable consumers to find and fully
use the appropriate, affordable and high-quality services,
technologies and support they need.
“Untreated hearing loss in the United States is a substantial
national problem. High device costs and inadequate innovation in
distribution channels are creating significant barriers to access
for most Americans,” said Mark Gorder, president and chief
executive officer of IntriCon. “The National Academies of Sciences,
Engineering and Medicine’s report is the latest call for action
demanding fundamental change in the delivery of hearing
health.”
Gorder indicated that in October 2015 the President’s Council of
Advisors on Science & Technology, or PCAST, addressed the low
hearing health market penetration levels IntriCon has long pointed
out. Moreover, in April 2016, the U.S. Food and Drug
Administration, or FDA, hosted a public workshop to gather
stakeholder and public input on draft guidance related to the
agency's premarket requirements for hearing aids and PSAPs. The
FDA’s intent is to consider ways in which regulation can support
further device penetration into the hearing market.
Said Gorder, “All of these pivotal events point to a groundswell
for fundamental change. They highlight the need for an
outcomes-based hearing healthcare model in which the best
value-added devices and software technology are combined with
varying levels of practitioner intervention, to provide the most
efficient, lowest cost solution, to consumers across the
country.
“As a company, we are aligned with the collective efforts of
PCAST, the FDA and now the National Academies of Sciences,
Engineering and Medicine to overcome barriers to device access and
spur development and innovation in cost-effective technology. We
believe these factors create the need for the outcomes-based
hearing health delivery model we’ve advocated. Our value hearing
health strategy focuses on this need, as we continue to build the
infrastructure to secure other notable partners who can help drive
this delivery model,” concluded Gorder.
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/20160607005178/en/
At IntriCon:Scott Longval, CFO,
651-604-9526slongval@intricon.comorAt PadillaCRT:Matt
Sullivan, 612-455-1700matt.sullivan@padillacrt.com
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