Over 466 million people globally suffer from permanent disability hearing loss according to the WHO. A third of those suffering from hearing loss are aged over 65 years.
Futuregrowth, just welcomed a new player into the Futuregrowth Development Equity Fund (DEF) portfolio, HearX. This disruptive early medtech was established in 2016 by Pretoria-based academics that still operate there. Futuregrowth remains upbeat over the future prospects of the hearing company’s product offering and dynamic team which exhibits extensive and in-depth knowledge and experience in the industry.
In the press release, Nic Klopper, hearX CEO described how his team is hard at work to make healthy hearing “realistic” and an “affordable option” for those with hearing loss.
Head of Unlisted Equity Transactions at Futuregrowth, Amrish Narrandes expressed pleasure in investing in “proudly South African products, services, and IP.”
DEF still regards this as an early-stage investment despite HearX having conducted over a million hearing tests and screenings across the globe since inception. The company’s products are now used by over 68 countries. HearX’s vision is to provide affordable and easily accessible hearing healthcare solutions using pioneer smartphone technology.
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