SOUNDTEC TECHNOLOGY TURNS HEARING AID MARKET ON ITS EAR Implantable Hearing Device Company Foresees Growing Demand
22 million Americans need but do not have a hearing aid. Hearing aid technology - based on amplification only - has remained much the same for decades. SOUNDTEC has developed revolutionary new technology that solves the problems that plague traditional hearing aids - all for about the same cost as a top-of-the-line hearing aid. Implantation takes only 30 minutes and can be performed in a doctor's office.
(PRWEB) April 19, 2002
(OKLAHOMA CITY, OK) In 2002, Americans will spend about $2.6 billion on hearing devices. Since the market traditionally grows by 5% annually, sales of hearing aids or devices for the next decade could reach $35 billion in the United States alone. As baby boomers become golden-agers, the market will grow even more dramatically.
Since the first cave man cupped a hand around his ear to hear better, hearing aid methodology Â to simply make sounds louder Â has changed very little. But amplification, while it can be a reasonably effective treatment for the hard of hearing, has many inherent problems. These problems have contributed to the traditional lack of acceptance of hearing aids by the hard of hearing population. Though about one-tenth of the American population (28.6 million) have trouble hearing, only 6.6 million own hearing aids.
That may soon change. Privately held SOUNDTEC, inc., has recently introduced non-amplification technology they believe will revolutionize the hearing health industry. The device is not a hearing aid. Rather than simply amplify sound, SOUNDTECÂs FDA-approved Direct System processor turns sound into electromagnetic waves which are received by a tiny rare-earth magnet implanted in the middle ear. The magnet passes the sound on to the inner ear in the form of vibrations, a process that simulates healthy hearing.
The result is clearer, more natural sound, and a drastic reduction in problems associated with conventional hearing aids. Implantation of the tiny magnet takes less than 30 minutes, and can be performed in an outpatient clinic under local anesthetic. This is much less invasive than other implantable devices. The Direct System is also much more affordable, costing about the same as top-quality digital hearing aids currently on the market.
SOUNDTEC believes the combination of clearer, more natural sound, a comparatively simple implantation procedure, and affordable cost will have a powerful effect on the hearing aid market Â particularly with those who have resisted hearing devices in the past.
As the forerunner and patent-holder of this innovative technology, SOUNDTEC is in a position to take full advantage of this expanding market universe. SOUNDTECÂs Direct System provides clear, high-fidelity sounds without the problems associated with traditional hearing aids Â feedback, distortion and occlusion. Feedback is the squealing or whistling noise associated with hearing aids. Many hearing aid wearers also experience distortion, when words or sounds seem muffled or garbled. Finally, tightly fitting hearing aids can cause occlusion, or the feeling that oneÂs ears are plugged.
Millions of people could benefit from The Direct System. Anyone who is eighteen years of age or older, and who suffers from moderate to severe sensorineural hearing loss (nerve damage) is a potential candidate for The Direct System.
SOUNDTEC was recently honored as OklahomaÂs Innovator of the Year by the Journal Record Business Publication. SOUNDTEC was co-founded in 1997 by Kenneth Dormer, Ph. D., and Jack Hough, M. D., a renowned otologist and founder of the Hough Ear Institute, one of the worldÂs pre-eminent hearing research centers. Dr. Hough was also first co-investigator on the Cochlear Implant device for the profoundly deaf.
SOUNDTECÂs proprietary technology is protected by three U. S. patents and has patent protection in nine countries. Today, over 350 hearing health professionals throughout the United States, Canada and some foreign countries have been trained to offer The Direct System implantable hearing device.
For more information about SOUNDTEC and The Direct System, or to find The Direct System provider in your area, visit www. soundtecinc. com or call (800) 793-9587.
Investor information: Ted Davis, President, 2601 Northwest Expressway, Suite 400W, Oklahoma City OK, 73112.