HearUSA, the rapidly growing conglomerator of hearing-aid retail stores across the U.S., has hired Don Shula, the legendary former coach of the National Football League's Miami Dolphins, to promote hearing aids among active Baby Boomers. In its second-quarter financial report, HearUSA cited the costs of the Don Shula "Just Find Out" TV and promotional advertising campaign as one of the reasons it incurred a $3.4 million loss, or $0.09 per share, in its second fiscal quarter. The company has been investing in rapid growth and said it expects to hit more than $100 million in revenues in 2007 as it continues opening and acquiring retail hearing-aid centers. The company also recently announced expanded agreements with leading managed care providers, giving the hearing-aid provider access to a pool of 2.5 million insured patients. Among the providers HearUSA has agreements with is the U.S. Veteran's Administration. That relationship is curious given the fact that the U.S. government usually looks for made-in-America suppliers, whereas 90 percent of the products HearUSA sells comes from Siemens, a German company, according to an announcement HearUSA made in January 2007. Siemens also has a significant financial interest in HearUSA, the company said in the same announcement.
Posted by David at 08:59 PM on Sep 10, 2007 in INDUSTRY NEWS, PEOPLE
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I personally do not recommend this company . They worked as a third party for my insurance company to dispense hearing aides and took a $600 cut from the check my insurance company sent "administrative costs". My audiologist had no contract with Hearusa and was threatened with being blackballed from there list of approved venders. Hear USA stated that they let her on the list as a courtisy to people in my area being that there is no Hearusa center for 50 miles. Well they blackballed her because she was not going to be the subject of corporote bullying. I suppose they are locking people into using Siemens and Hear USA centeres to grow there bottom line with no regard to the logistical needs of their customers. This was such a bad experience I will never do business with this organization again. I have saved paperwork and am thinking about contacting my State attorney general. They eventually did refund my $600 but not with out a fight.
