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IntriCon Supports Recommendations of National Academies of Sciences, Engineering and Medicine to Improve Hearing Health Care Access and Affordability
Jun 07, 2016

Report Aligns with Company's Lower-Cost Hearing Health Initiatives

ARDEN HILLS, Minn.--(BUSINESS WIRE)-- IntriCon Corporation (NASDAQ:IIN), a designer, developer, manufacturer and distributor of miniature and micro-miniature body-worn devices, today said that it supports the key change recommendations recently issued by the National Academies of Sciences, Engineering and Medicine to improve hearing health access and affordability for consumers.

On June 2, 2016, the group published its Hearing Health Care for Adults: Priorities for Improving Access and Affordability report—which studied hearing health care for adults in the United States. Using a set of guiding principles to help shape its work, the committee recommends key institutional, technological, and regulatory changes that would enable consumers to find and fully use the appropriate, affordable and high-quality services, technologies and support they need.

"Untreated hearing loss in the United States is a substantial national problem. High device costs and inadequate innovation in distribution channels are creating significant barriers to access for most Americans," said Mark Gorder, president and chief executive officer of IntriCon. "The National Academies of Sciences, Engineering and Medicine's report is the latest call for action demanding fundamental change in the delivery of hearing health."

Gorder indicated that in October 2015 the President's Council of Advisors on Science & Technology, or PCAST, addressed the low hearing health market penetration levels IntriCon has long pointed out. Moreover, in April 2016, the U.S. Food and Drug Administration, or FDA, hosted a public workshop to gather stakeholder and public input on draft guidance related to the agency's premarket requirements for hearing aids and PSAPs. The FDA's intent is to consider ways in which regulation can support further device penetration into the hearing market.

Said Gorder, "All of these pivotal events point to a groundswell for fundamental change. They highlight the need for an outcomes-based hearing healthcare model in which the best value-added devices and software technology are combined with varying levels of practitioner intervention, to provide the most efficient, lowest cost solution, to consumers across the country.

"As a company, we are aligned with the collective efforts of PCAST, the FDA and now the National Academies of Sciences, Engineering and Medicine to overcome barriers to device access and spur development and innovation in cost-effective technology. We believe these factors create the need for the outcomes-based hearing health delivery model we've advocated. Our value hearing health strategy focuses on this need, as we continue to build the infrastructure to secure other notable partners who can help drive this delivery model," concluded Gorder.

About IntriCon Corporation
Headquartered in Arden Hills, Minn., IntriCon Corporation designs, develops, manufactures and distributes miniature and micro-miniature body-worn devices. The company is focused on three key markets: medical, hearing health, and professional audio communications. 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, 2014. 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.

At IntriCon:
Scott Longval, CFO, 651-604-9526
slongval@intricon.com
or
At PadillaCRT:
Matt Sullivan, 612-455-1700
matt.sullivan@padillacrt.com

Source: IntriCon Corporation

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