Parametric Sound and California Hearing and Balance Center Collaborate on
Healthcare Applications for HyperSound(TM) Technology
SAN DIEGO, CA, Jan 03, 2013 (MARKETWIRE via COMTEX) -- Parametric Sound
Corporation (PAMT), a leading innovator of directed audio products and solutions,
announced today a collaboration with the California Hearing & Balance Center (the
"Center") to investigate health applications of the Company's HyperSound ("HSS")
audio technology.
The Center recently reviewed preference testing reported by audiologists and
observations from listeners speaking to the clarity and improved comprehension
possible with HSS. Preference testing by third-party audiologists using the
Company's HSS sound technology side-by-side with traditional audio indicated that
a broad range of these listeners preferred the improved clarity of HSS. Most of
these observations focused on television viewing where clarity and comprehension
are important factors as people age.
"In our review of comparison testing observations, HSS appeared to provide a
richer, more robust listening experience compared to traditional audio," said Dr.
Ritvik Mehta at the California Hearing and Balance Center. "We are evaluating the
mechanisms at work with HSS and we look forward to collaborating with Parametric
and their advisors to further assess the possible benefits of and applications
for HSS sound technology."
The Company and the Center have agreed to collaborate on a range of activities
and studies to explore the use of HSS in personal sound amplification and in both
group and individual assisted listening applications for those with normal
hearing and those with various stages of hearing loss. Amongst other health
applications targeted by the collaboration is the investigation of using HSS for
those suffering with tinnitus.
"We are very pleased the Center has agreed to collaborate with us to help
validate our technology's potential in the large health care market," said
Kenneth F. Potashner, executive chairman of Parametric Sound. "We are extremely
pleased with the initial observations we are seeing and look forward to pursuing
potential licensing opportunities in this sector."
According to a study in a November 2011 issue of Archives of Internal Medicine,
hearing loss affects nearly 48 million Americans. For individuals 12 years and
older in the United States, nearly 1 in 8 has bilateral hearing loss, and nearly
1 in 5 has a unilateral or bilateral hearing loss severe enough to interfere with
day-to-day communication. The study further states that the prevalence of hearing
loss is expected to rise because of the aging of the population. The Company
believes one of the major issues experienced by the hearing impaired is lack of
clarity in differentiating words from each other even with loud volume. The
Company also believes its emitters may provide benefits in this area by
delivering with clarity the frequencies important in speech recognition, thus
improving the TV viewing experience by those with normal hearing, and by
providing amplification for those with some hearing loss without the need for
headphones or any coupling to the ear or body.
About Parametric Sound Corporation
Parametric Sound Corporation is a pioneering innovator of directed audio
solutions. With a substantial body of intellectual property, the Company is a
leading authority in the application of acoustic technology to beam sound to
target a specific listening area without the ambient noise of traditional
speakers. The Company's HSS-3000 product models target digital signage, kiosk and
related applications. Recent innovations produce a distinctive 3D audio image
from just two speakers opening potential opportunities for 3D sound solutions for
computers and entertainment. For more information, visit
parametricsound.com.
About California Hearing & Balance Center The California Hearing and Balance
Center (CHBC) is a San Diego, CA based practice dedicated to Otology/Neurotology
and Audiology. Founded in 2009 by Dr. Ritvik Mehta (MD) and Dr. Sara Mattson
(AuD), The California Hearing and Balance Center provides full-service care for
all hearing and balance needs. The practice includes full-service audiology,
including diagnostics and audiology treatment. CHBC also specializes in
implantable hearing devices including cochlear implants, implantable hearing
technology, and bone anchored hearing solutions (including the latest SoundBite
device). Its tinnitus center includes Tinnitus Retraining Therapy (TRT) and
treatment of tinnitus with sound therapies including Neuromonics, OtoSound, and
SoundCure. CHBC is well versed in working with the hearing healthcare industry
and has been involved in clinical studies and consulting for tinnitus as well as
hearing devices.
Trademark Information: HyperSound is a tradename and HSS is a registered
trademark of the Company. All other trade names are either trademarks or
registered trademarks of their respective holders.
Cautionary note on forward-looking statements This press release includes
forward-looking information and statements. Except for historical information
contained in this release, statements in this release by the Company and the
Center, including those related to the initial preference test reports and
possible benefits of HSS technology for the hearing impaired may constitute
forward-looking statements regarding our assumptions, projections, expectations,
targets, intentions or beliefs about future events that are based on management's
belief, as well as assumptions made by, and information currently available to,
management. While the Company believes that its beliefs and expectations are
based upon reasonable assumptions, there can be no assurances that the Company's
goals and strategy will be realized. Numerous factors, including risks and
uncertainties, may affect the Company's actual results and may cause results to
differ materially from those expressed in forward-looking statements made by or
on behalf of the Company. Some of these factors include the significant
regulatory issues that could bar or delay product marketing or limit indicates
uses should the Company seek medical device marketing clearance, acceptance of
new Parametric Sound products and technologies, the impact of competitive
products and pricing, the timely development and release of products by the
Company, general business and economic conditions, and other factors detailed in
the Company's Annual Report on Form 10-K and other periodic reports filed with
the SEC. The Company specifically disclaims any obligation to update or revise
any forward-looking statement whether as a result of new information, future
developments or otherwise.
MEDIA CONTACT:
Tracy Neumann
888-HSS-2150 Ext 509
Email Contact
or
INVESTOR RELATIONS CONTACT:
Dave Mossberg
Three Part Advisors, LLC
817-310-0051 |
