IntriCon Corporation (NASDAQ: IIN), the body-worn device company,
today announced it will be the supplier of hearing aids for hi
HealthInnovations, a UnitedHealth Group company.
UnitedHealthcare recently announced that it is making hi
HealthInnovations’ high-tech, custom-programmed hearing aids
available at a discounted price to the more than 26 million people
enrolled in its employer-sponsored and individual health benefit plans.
“Research shows the cost of hearing aids is a significant barrier for
consumers,” said Mark S. Gorder, president and CEO of IntriCon. “We’re
excited to be a part of hi HealthInnovation’s efforts to bring
affordable, high-tech, custom-programmed hearing aids to more Americans.”
The program is an expansion of the affordable hearing aid benefit option
launched in October 2011 for UnitedHealthcare Medicare Advantage and
Part D plan participants – with some of them paying no out-of-pocket
costs for the devices. The hearing aids are also available to retail
consumers for $749 to $949 per device, which also represents a deep
discount compared to most competitor prices.
“According to the U.S. Department of Health and Human Services, hearing
loss affects one in five Americans ages 12 and older,” said Gorder. “And
while 90 percent of people with hearing loss can benefit from hearing
aids, fewer than 20 percent currently use them. Together, we can help
According to Gorder, there’s a fundamental shift under way in hearing
health. Consumers are seeking more accessible and affordable care, and
insurers and other organizations are developing new models to distribute
care and medical equipment.
“Consumers and employers are looking for options that make hearing aids
more affordable and accessible. We believe this collaboration between
IntriCon and UnitedHealthcare will help address millions of Americans’
hearing needs,” said Lisa Tseng, M.D., CEO of hi HealthInnovations.
About IntriCon Corporation Headquartered in Arden Hills,
Minn., IntriCon Corporation designs, develops and manufactures miniature
and micro-miniature body-worn devices. These advanced products help
medical, healthcare and professional communications companies meet the
rising demand for smaller, more intelligent and better connected
devices. 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, 2011. 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.