IntriCon and The Academy of Doctors of Audiology Announce Joint Venture

ARDEN HILLS, Minn. & LEXINGTON, Ky.--()--IntriCon Corporation (NASDAQ: IIN) and The Academy of Doctors of Audiology (ADA), today announced a joint venture to provide hearing instruments and educational resources that offer unprecedented value for audiologists and their patients.

“This is another significant milestone in our strategy to drive our hearing health business. Importantly, we believe this partnership is further evidence that the hearing health market is changing and opportunities exist in various emerging value channels, which, as a company, we are well-positioned to address.”

Based in Arden Hills, Minn., the joint venture operates under the name earVenture LLC. It capitalizes on IntriCon’s established reputation as a leading provider of high-quality, low-cost hearing aids and the ADA’s respected position as the only national membership association focused on ownership of the audiology profession through autonomous practice and clinical excellence.

“IntriCon is excited to partner with the highly regarded ADA—and earVenture is a testament to each organization’s strong commitment to providing audiologists access to high-quality hearing instruments and educational resources at attractive price points,” said Mark Gorder, President and Chief Executive Officer of IntriCon. “IntriCon’s long-standing design and development strategy focuses on hearing aid platforms driven by outcomes-based features. This philosophy has enabled us to offer technically advanced products to independent audiologists at a cost significantly lower than competing devices.”

Initial earVenture product offerings will help audiologists compete in any market and help underserved or never-served populations who can benefit from hearing aids. The devices offer value-added hearing aid features for enhanced patient performance, including: eight channels, noise suppression, adaptive feedback management, directional microphones and telecoils.

Said ADA President Kim Cavitt, Au.D., “ADA is delighted to partner with IntriCon to bring earVenture and its products to audiologists and their patients. This organization offers high-quality hearing instruments at unbundled prices, so audiologists can deliver the model of care of their choosing and focus on the services that provide better patient outcomes at every price point.”

ADA member audiologists may pre-order earVenture hearing instruments through September 22, 2015, at www.earventure.net (while supplies last). Other providers may register and order beginning September 23.

Concluded Gorder, “This is another significant milestone in our strategy to drive our hearing health business. Importantly, we believe this partnership is further evidence that the hearing health market is changing and opportunities exist in various emerging value channels, which, as a company, we are well-positioned to address.”

About earVenture
earVenture was founded in 2015 to deliver innovative resources and technology to audiologists, so they can deliver exceptional value to their patients. Our unique business model was developed by IntriCon, a globally recognized leader in the manufacture of high-quality, hearing instruments and components, and the Academy of Doctors of Audiology (ADA), the leading national organization dedicated to autonomy and best clinical and business practices in audiology. earVenture recognizes the critical role that audiologists play in helping people hear better. For this reason, earVenture does not advertise to consumers, nor does it allow its products to be sold over the counter or directly to consumers. To discover value beyond the device, visit www.earventure.net.

About Academy of Doctors of Audiology
The Academy of Doctors of Audiology is a national membership association focused on ownership of the audiology profession through autonomous practice and clinical excellence. ADA dedicated to the advancement of practitioner excellence, high ethical standards, professional autonomy and sound business practices in the provision of quality audiologic care. ADA offers programming and support to those audiologists and students who are, or who desire to be, independent practitioners in whatever setting they choose to practice. For more information about the ADA, visit www.audiologist.org.

About IntriCon Corporation
Headquartered 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 Statements
Statements 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.

Contacts

IntriCon
Scott Longval, CFO, 651-604-9526
slongval@intricon.com
or
PadillaCRT
Matt Sullivan, 612-455-1700
matt.sullivan@padillacrt.com

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