Audientes

Audientes mission is to make quality hearing solutions accessible and affordable to everyone who needs them. In other words, to help hearing-impaired people hear and interact freely. We will achieve this by designing, developing and bringing to market innovative solutions for the millions who simply cannot afford a traditional hearing aid or do not have access to an audiologist or hearing center. Audientes solutions address a large and growing global market.

Denmark-based Audientes is a provider of hearing aids and self-administered hearing tests. The company’s main product, Ven, is a self-fitting hearing aid that can double as a Bluetooth headset device. The hearing aid also comes in-built with a hearing test to calibrate itself to each user’s individual hearing ability, with test results being sent to the user’s connected smartphone via the company’s app. The self-administered hearing test adheres to the National Acoustic Laboratories (NAL) NL2 fitting algorithm and requires no additional equipment or consultations with specialists.

A concentration of wealth and a willingness to adopt age-in-place technologies present new opportunities.

Age Tech

Audientes A/S agrees collaboration with Kogai Invest AB, completing debt conversion of DKK 1.09 million

Denmark-based Audientes is a provider of hearing aids and self-administered hearing tests. The company’s main product, Ven, is a self-fitting hearing aid that can double as a Bluetooth headset device. The hearing aid also comes in-built with a hearing test to calibrate itself to each user’s individual hearing ability, with test results being sent to the user’s connected smartphone via the company’s app. The self-administered hearing test adheres to the National Acoustic Laboratories (NAL) NL2 fitting algorithm and requires no additional equipment or consultations with specialists.Audientes operates on a D2C basis, directly selling its hearing aids to seniors at around USD 390 per unit. Additionally, the company is publicly listed on the Frankfurt stock exchange under the ticker symbol AUG. Key customers and partnershipsIn June 2023, the company partnered with Shenzhen Hengtong Partner Company Ltd. Through the partnership agreement, Hengtong would help Audientes enter the Chinese market through its distribution network. The partnership also entailed Hengtong assisting Audientes with obtaining the necessary medical device approvals for the Chinese market.In January 2023, the company partnered with the Association of People with Disability (APD), an Indian NGO. Through the partnership, APD helped Audientes distribute its hearing aids throughout South India.In August 2024, Audientes and Shenzhen Hengtong Partner, a Chinese medical product distributor, signed an agreement to establish a joint venture in the hearing aid industry. The Shenzhen-based joint venture was noted to develop and commercialize affordable hearing solutions for the Chinese market, combining Audientes' technology with Hengtong's local expertise. Hengtong would own 60% of the venture and Audientes 40% of it, which aimed to boost market competitiveness, accelerate product localization, and expand sales channels in China. Initial activities included developing a Chinese version of Audientes' Ven self-fitting hearing aid, expected to launch in mid-2025. The venture also planned to participate in government initiatives and explore new business areas in the hearing aid sector.

Honor provides a platform for elderly persons and their families to find home care providers, and is claimed to be one of the largest on-demand home care networks in the US. The company’s key offerings include Home Care, Family Caregiver Resources, and the Honor Family App and Honor Family Care Network for remote monitoring.In August 2021, Honor announced the acquisition of home care provider Home Instead at an undisclosed value. The merged entity was expected to combine for over USD 2.1 billion home care services revenue.&nbsp; Key customers and partnershipsAs of August 2021, Home Instead had around 90,000 caregivers serving at 1,200 locations across the US and global markets. Home Instead acquired UK-based online platform SuperCarers in June 2020. It connects professional caregivers to elderly people seeking at-home care. Prior to the acquisition, SuperCarers had raised a total of GBP 4.9 million (USD 6.6 million).It also partners with the Organisation for the Review of Care and Health Applications (ORCHA) to provide quality assured apps for psychological wellbeing, physical activity, and mental stimulation.

Honor

Eargo specializes in developing hearing aid and related services. Eargo has four products in its lineup: Link by Eargo, Eargo SE, Eargo Neo HiFi, Eargo 6, and Eargo 7. The company’s products are unique due to its design meant to keep the device invisible when plugged in.The products are priced between USD 749 (Link by Eargo) and USD 2,490 (Eargo 7). The Eargo Neo HiFi comes alongside an app and offers connected smart features such as audio personalization and control. The app allows the user to control the audio to suit their surroundings, customize settings, and contact Eargo's licensed hearing professionals for consultation and support.In October 2020, Eargo was listed as a public company and then acquired by Patient Square Capital In October 2023. Via the acquisition, Patient Square Capital acquired all outstanding shares of Eargo—that were not owned by Patient Square—at USD 2.55 per share. Key customers and partnershipsThe company utilizes a business-to-consumer (B2C) online retail strategy compared to traditional business-to-business (B2B) model deployed by other manufacturers who sell their products through clinics. The strategy has proven beneficial through the Covid-19 pandemic as consumer footfall for brick-and-mortar clinics have declined.

Eargo

K4Connect provides technology solutions to residents and staff members in senior living communities through its K4Community platform. The company was co-founded by Scott Moody who sold his fingerprint sensor technology company AuthenTec to Apple for USD 356 million in 2012, which then became the basis for Touch ID.The platform's offerings include digital voice and video communication, and community updates for residents. It also provides smart home automation through the provisioning of plug and play Alexa devices for residents and supports smart thermostats, smart lights, motion sensors, and sleep tracking devices. In addition, community staff members have access to tools for resident surveys, resident and family management, and communications. During the Covid-19 pandemic, the platform also established an expanded video chat service to facilitate resident-to-resident communication, staff requests, yoga classes, and dining room bookings. Further, in March 2020, it partnered with software communications firm Bandwidth to introduce a hotline for staff and residents as a means of keeping all parties up to date with community information.The platform is built on the company’s patented operating system, FusionOS. The company claims that FusionOS is an advanced multi-modal edge-cloud architecture, the first of its kind in the senior living industry. Residents and staff can access the platform using a smartphone app or pre-provisioned tables in the living communities priced on a per-resident basis.As of July 2020, the platform served over 800 independent and assisted living senior living communities across the US. The platform serves over 29,000 users at more than 125 senior living communities across 27 customers as of February 2020, more than doubling its users from 2018, which it expects to repeat in 2020. The company has established channel partnerships with Allbridge (a data, video and voice solution provider for senior living) in July 2020, and Eskaton (a senior services provider) and White Horse Village (a continuing care retirement community) in May 2019. It collaborated with GlobalLogic (a digital product engineering company) in July 2020 to expedite the development schedule of its K4Community Plus app in response to Covid-19.

K4Connect

CarePredict was founded by Former IBM consultant and tech veteran, Satish Movva, and produces Tempo smart wearables for the elderly community. Using machine learning (ML), the company claims the app can reduce the chance of a fall, and predict urinary tract infections (UTIs) and depression ahead of a clinical diagnosis. The device aims to assist caregivers in taking preventive action by detecting activities and behaviors which are precursors to health declines. The data from the device can also be shared with family members.The company generates revenue from device sales and subscriptions. Independent research conducted in September 2020 indicated that facilities using CarePredict’s wearables reported 40% fewer hospitalizations 69%, lower fall rates, 67% increased length of stay, and a 37% improved staff response rate than facilities that did not use CarePredict.The company expanded its operations in 2018 through its acquisition of WiseWare, a company selling activity-tracking jewelry for older users. In April 2020, it launched the PinPoint contact-tracing tools to mitigate the spread of Covid-19.Key customers and partnershipsIn February 2021, the company announced its partnership with Middle Alabama Area Agency on Aging (M4A). M4A is the agency behind the “Providing Alzheimer's N' Dementia Assistance” (PANDA) project. The company will be the first tech platform to be part of the project and will provide caregivers assistance in remote monitoring and preventive care using its smart wearables.

CarePredict

Eversound develops wireless headphone systems to enhance the level of engagement and social interaction for the elderly living in assisted living or memory care centres. The platform provides a library of programmed content on a variety of topics. The headphone system can be used to communicate with caregivers, during group events, family visits, and for music therapy. The headphones are equipped with a wireless transmitter and volume controls. It connects to external audio sources such as community A/V systems, televisions, and audio devices.The product was unveiled in May 2016. In a subsequent six month study conducted by LCB Senior Living community, group events leveraging the Eversound system resulted in an 18% reduction of residents falling asleep and a 28% increase in engagement during group events. In December 2016, the company expanded to 18 states across the US.In March 2020, as a part of its Covid-19 response, the company launched a live streamed, interactive content service to help seniors combat isolation. Further, as in-person visits at assisted living communities were interrupted due to the Covid-19 pandemic, the use of Eversound’s visitation package proved to be crucial for socially distanced in-person visits. Key customers and partnershipsAs of December 2020, the company’s product is being used in more than 700 senior living communities across the US. Its clients include senior living communities such as Brightview, Commonwealth, and Oakmont. In addition, Eversound has established partnerships with senior living communities (such as The Arbor Company, Bridges by EPOCH, Christian Horizons, and Kisco) to roll out its devices for family visitations, and programmable and live streamed content.

Eversound

Tech-enabled equipment or companionship services that help elderly people function independently.

Platforms that match seniors with home care providers as well as app-based products to facilitate communication between senior families and caregivers

Tech-enabled products used to diagnose, prevent, and treat conditions common among seniors.

Remote monitoring, medical diagnosis, communication, and coordination between caregivers and families of the elderly.

Platforms that help seniors interact socially and communicate with others.

Platforms that help seniors and their families plan and make arrangements to settle the senior’s estates and affairs in the event of death.

Companies that use GenAI as a core part of their product offering for Age Tech

Offers digital platforms that support the wellness of the senior population

Age Tech providers incorporate GenAI to enhance both seniors’ and caregivers’ experiences

Many devices that help seniors operate independently and receive remote treatment use IoT

Some companies use VR to help treat seniors with conditions such as isolation and dementia

ANALYST_QUICK_TAKE

<div>
 
 Audientes A/S, a hearing health company, has raised DKK 1.7 million (USD 250,000) via a directed issue. The income includes a DKK 1.28 million (USD 190,000) cash capital increase from 13 independent investors, while the remaining amount was raised from debt conversion by trade creditors. The share price was fixed at DKK 0.014 (USD 0.002) each.
 These funds will be used to finance operational costs for market entry in China and Japan, expanding operations in Europe and India, maintaining products, supporting customers, and developing new products.
 Post the capital increase, the share count of Audientes will grow by 121,638,386 to 322,031,063 shares, resulting in a dilution impact of about 37.77%. In order to achieve its break-even goals by 2025, the company is planning to pursue a long-term bond of up to EUR 1 million (USD 1.08 million).
 
</div> Analyst QuickTake: 
 Earlier in <a href="https: 
//sp-edge.com/updates/32645"> August </a> this year, Aufientes partnered with Shenzhen Hengtong, a Chinese medical product distributor, to form a joint venture that would develop and commercialize hearing solutions for the Chinese market. With this funding, the company appears to be supporting this initiative, while additionally supporting its other initiatives targeting global expansion.

Audientes

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