Hearing industry consortium awards grants to three researchers

MINNEAPOLIS—Three scientists who are conducting research intended to improve the ability of people with hearing loss to understand speech were selected by the Hearing Industry Research Consortium (IRC) to receive the organization’s latest research grants. The consortium was established in 2012 for the purpose of advancing a mutually agreed upon research agenda that will benefit…

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Employee accused of stealing $1 million in hearing aids before being laid off

PLYMOUTH, MN–When a man who had worked in a Rexton hearing aid manufacturing facility here for 25 years learned that he was going to be laid off in six months, he prepared for unemployment by stealing $1 million worth of hearing aids and related products, such as remote controls and battery chargers. So says the…

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Costco says its hearing aid business is growing fast

ISSAQUAH, WA–While it may not bring joy to its competitors’ hearts, Costco reports that its hearing aid business is growing fast. Interviewed for an online article published in Bloomberg Business Week on July 11, Richard Chavez, a senior VP at Costco, said that over the past four years its hearing aid sales have grown by an…

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hearing aid company market share

Research firm analyzes market share, retail activity, and prospects of major hearing aid manufacturers

By David H. Kirkwood NEW YORK—A number of financial research firms in the United States and abroad follow the hearing industry on behalf of their clients. These include individual investors as well as institutional investors such as pension and hedge fund managers. The latest company to turn its sights on hearing aids is Sanford C.…

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Hearing industry research consortium will award $300,000 to its two initial grant recipients

MINNEAPOLIS–The Hearing Industry Research Consortium (IRC) announced on Monday the recipients of $300,000 in research grants in its initial Request for Proposals (RFP) program. Piers Dawes, PhD, a research fellow at the University of Manchester in the UK, and Andrea Pittman, PhD, associate professor at Arizona State University, will each receive $150,000 to support their…

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Better Hearing video from Siemens expected to reach millions in Times Square

NEW YORK—Visitors to Times Square, which New Yorkers like to call the “Crossroads of the World,” are getting a heavy dose of better hearing messages this month. Siemens Hearing Instruments, Inc., which is headquartered across the Hudson River from New York in Piscataway, NJ, is celebrating May as Better Hearing and Speech month by airing a…

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Reports spread that Siemens plans to put its hearing aid division on the block

By David H. Kirkwood ERLANGEN, GERMANY—More than three years after Siemens tried to sell its hearing aid division but failed to attract an acceptable bid, reports on The Wall Street Journal’s Market Watch web site and elsewhere online say that the German industrial giant is planning to try again later this year. The reports cite unnamed…

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International Hearing Society members enjoy a memorable meeting in the desert

GLENDALE, AZ—The 61st annual International Hearing Society Convention & Expo drew an unusually large and enthusiastic turnout to the Renaissance Glendale Hotel & Spa. Some 500 IHS members were in attendance, along with a great many exhibitors and guests. Among the highlights of the meeting, held September 19-22, was a Manufacturers’ Forum, which filled the…

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Chairman of “Big Six” hearing research consortium discusses its goals

By David H. Kirkwood LAKE TAHOE, CA—In an unprecedented development in the hearing industry, the world’s six largest manufacturers of hearing aids have joined together to establish the Hearing Industry Research Consortium (IRC). GN ReSound, Oticon, Phonak, Siemens Hearing Solutions, Starkey Hearing Technologies, and Widex formed the consortium to develop and direct a non-competitive, mutually…

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Siemens Hearing faces class action over HearUSA acquisition

WASHINGTON–A class action lawsuit filed on January 18 charges Siemens Hearing Instruments, Inc., with engaging in a fraudulent scheme to drive down the price of HearUSA common stock in an attempt to acquire the assets of the Florida-based network of hearing care practices for less than their fair market value. The action was brought by…

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