UTRECHT, NETHERLANDS — Online hearing care provider, hear.com, announced that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of the common shares of hear.com N.V.
The offering “is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering”. hear.com intends to list its common shares on the Nasdaq Global Market under the ticker symbol “HCG.”
Morgan Stanley and J.P. Morgan are acting as joint lead book-running managers for the proposed offering and as representatives of the underwriters for the proposed offering. Deutsche Bank Securities and Goldman Sachs & Co. LLC are acting as active book-running managers. BofA Securities, William Blair, and Truist Securities are also acting as book-running managers for the proposed offering.
Reaching Consumers with Hearing loss
The company believes that the current hearing care delivery model has contributed to a large under-served market of consumers with hearing loss. According to its SEC filing, “the limitations of traditional hearing care and the lack of consumer-focused platforms that enable consumers to easily search, discover and access solutions are the primary reasons driving this under penetration”.
These limitations are said to include the following:
- Misconceptions associated with the use of hearing aids
- Disempowering consumer experience
- Inconvenient, cumbersome process
- Inaccessible hearing care service in remote areas
Due to the above factors, “future growth of hearing care is to be driven by high quality digital solutions”.
“The global hearing care market is highly fragmented, and we estimate that the online channel accounted for only 1% to 2% of global hearing aid sales in 2019. We believe this channel is highly underpenetrated and poised to capture significant market share as has been seen in other industries.”
hear.com is on a mission to bring high quality hearing care to anyone, anywhere. Founded in 2012 and headquartered in the Netherlands, hear.com has grown to become the largest online provider of expert, medical-grade hearing care globally. hear.com has helped millions get on the path to better hearing with its Hearing Success Program.