Duke was a Dude: Unraveling HearUSA part 10

HearUSA’s wedding was marred briefly by a relative on the Canadian side named Duke Rodriguez who stood up and objected when the marriage officiant asked if there were objections to the marriage{{1}}[[1]]Just in case this ever comes up, here’s a site that tells you the etiquette for objecting to weddings [[1]]. Consequently, he was paid lots of…

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Wedding Planning for HEARx and Helix: Unraveling HearUSA, part 7

In May of 2001, HEARx and Helix Hearing Care signed a letter of intent to join together.{{1}}[[1]] http://www.audiologyonline.com/news/news_detail.asp?news_id=295[[1]]  Wedding bells started ringing in June when the bride and groom announced a financing commitment from Siemens Hearing Instruments of upwards of $70 million “if Hearx and Helix meet certain business goals” which were breathlessly outlined in typical HEARx press release fashion:…

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Enter Helix, Stage Left: Unraveling HearUSA, part 6

HEARx entered the 21st century after a wild teenage life of excess, with lots of revenues, growing debt, a burgeoning central office, and negative profits.  HEARx was growing up and needed to get serious and find a life partner. Meanwhile, Helix Hearing, Inc. was incorporated in Cumberland, Canada in 1996 under the direction of Steve Forget (President),…

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Die Hard: Unraveling HearUSA, part 5

Those of you attempting to follow this series may have concluded what I have about HEARx:  like Dracula, it just won’t die!  As one insider put it,  “It was a publicly traded company but most of the stock was not owned by the public. They always showed a loss and just kept issuing more and more shares” {{1}}[[1]]Support for this…

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Life in the Fast Lane: Unraveling HearUSA, part 1

“The Company’s strategy includes immediate public differentiation from all existing hearing centers.”{{1}}[[1]]HEARx Marketing Plan, internal document, about 1986.[[1]] Thus began one man’s corporate vision to revolutionize hearing care in the US and Canada, and also make a bunch of money. Based on current headlines, it seems the vision has been achieved.  The corporation–currently known as HearUSA …

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