Saturday, December 3, 2022

Lucid Hearing Prepares for Over-the-Counter Hearing Aid Market with Patented Technology Devices

Lucid Hearing'S Fio Hearing Aid And Charger
Lucid Hearing’S Fio Hearing Aid And Charger

Lucid Hearing, LLC, a market leader and global provider of advanced hearing technology and audio solutions, commends the Food and Drug Administration (FDA) for its efforts to give Americans expanded access to hearing solutions. The ruling as finalized by the FDA on Aug. 17 creates a new over-the-counter (OTC) category which allows hearing aids to be sold directly online and in stores to consumers without requiring a medical visit, audiogram test or prescription.

It is estimated that nearly 30 million American adults could benefit from using hearing aids. This new OTC ruling, which is expected to take effect in mid-October, applies to certain hearing aids for people aged 18 and older who have perceived mild to moderate hearing impairment.

“At Lucid Hearing we are committed to helping people hear better. This ruling aligns with our mission by encouraging more affordable and accessible hearing help while ensuring the safety and effectiveness of available hearing devices,” said Jason Kidd, President and COO of Lucid Hearing. “Thanks to the FDA, hearing healthcare will soon be opened up to millions of Americans experiencing hearing loss who have previously been unserved.”

Lucid Hearing’s OTC hearing aid offerings will be unique due to the company’s scientific and innovative pre-set programs that cover the vast majority of consumers’ hearing loss needs. This technology was developed in conjunction with a top audiology research university and is based on a comprehensive study of more than 90,000 audiograms. The company’s modern hearing devices – powered by a unique and patented sound processing technology – are discreet and can include features like Bluetooth functionality, mobile app control for customization, and high-definition channel counts for incredible clarity.

Lucid Hearing is unique in that we have been researchers and innovators in hearing health for 13 years, and we have been preparing for this ruling for quite some time now,” added Kidd. “We understand the combination of technology and science that is needed to ensure product effectiveness and safety, and we are thrilled about this FDA ruling because now so many more Americans will have options and can get help earlier in their hearing loss journey.”

The ruling allows the company to expand its portfolio with new OTC products. The devices will be for sale at national retailer partner locations without an appointment at price points well below prescription offerings. Lucid Hearing, which employs hundreds of licensed hearing professionals in more than 500 hearing aid centers nationwide, will also continue to offer consumers free hearing tests and an extensive line of prescription hearing aids. The company highly values all of its hearing professionals who are committed to offering expert medical evaluations and guidance to the many Americans who are best served through full-service prescription hearing solutions.

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Mergers / Acquisitions

Boston Scientific Announces Agreement to Acquire Apollo Endosurgery, Inc.

"Endoluminal surgery is an emerging field and a core focus for our Endoscopy business," said Mike Jones, senior vice president and president, Endoscopy, Boston Scientific. "We intend to expand our global capabilities in ELS with the differentiated innovation that Apollo Endosurgery offers, and we will continue to focus on procedural adoption as well as professional education in this exciting space. This acquisition also enables us to enter a new adjacency – the endobariatric market – and deliver strong, continued growth across our business."

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