Turtle Beach Corporation Announces New Partnership With Fuel Medical Group, LLC For Revolutionary HyperSound Clear™ Directed Audio Solution

Jul 08, 2015, 08:00 ET from Turtle Beach Corporation

SAN DIEGO, July 8, 2015 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company, today announced a new partnership with Fuel Medical Group, LLC, further supporting HyperSound Clear™ – the Company's first-of-its-kind directed audio solution planned to launch later this year. Fuel Medical Group is the leading provider of marketing, web development, finance, operations and human resource services to ear, nose & throat physicians, audiology clinics, hospitals, universities and other multi-specialty practices, and this new partnership will add HyperSound Clear to Fuel Medical's portfolio of non-intrusive hearing healthcare solutions as soon as it becomes available.

"HyperSound Clear has countless applications for the hearing healthcare industry and beyond in its ability to provide a crisp, immersive, 'unplugged' audio experience for people with hearing loss," said Shawn Parker, Co-Founder, Fuel Medical Group.

Parker and his business partner, Brendan Ford, had the opportunity to experience a live demonstration of HyperSound Clear at the American Academy of Audiology's Audiology Now! Conference earlier this year, and Ford states, "We're blown away by HyperSound® technology's potential as a hearing healthcare solution, and look forward to its evolution into mainstream markets. We believe this technology will be a game-changer for hearing healthcare clinics, as well as the retail industry by changing the way consumers receive targeted messages in stores, at trade shows and in other public forums."

HyperSound Clear offers a fundamentally new approach to sound delivery. Similar to how a flashlight beams a ray of light, HyperSound Clear beams sound directly to targeted listeners, which has been shown to improve sound clarity and speech intelligibility in individuals with hearing loss. When sitting in the "HyperSound beam," people with hearing loss experience immersive, 3D audio; and at the same time, everyone else in the room hears audio at a normal volume level delivered through the TV speakers or home theater system. This means that people with hearing loss, along with family members and friends, can once again return to the family room to enjoy the latest home entertainment together.

"We're excited to have Fuel Medical Group, one of Inc. 500's fastest growing private companies, on-board as a partner for HyperSound Clear," said Rodney Schutt, Senior Vice President and General Manager for the HyperSound business at Turtle Beach Corporation. "Fuel Medical Group has a unique insight into practice management, focusing on the growth of each practice and their patients, and this partnership well-suited to meet the growing demand for hearing healthcare technology."

A recent study1 by the Hearing Industries Association reports hearing aid unit sales in the U.S. grew by 4.76% in 2014, topping 3 million units for the first time in industry history. However, these record breaking numbers are minimal considering that hearing loss impacts over 48 million Americans and an estimated 360 million people worldwide. Hearing loss is the third most common chronic physical condition in the United States.

Schutt added, "These numbers reflect the immense need for cutting-edge hearing healthcare technology in clinical settings as well as recreational entertainment, and we believe HyperSound Clear will offer a new way for people with hearing loss to once again enjoy home entertainment."

To learn more about HyperSound technology and HyperSound Clear, please visit the official website at http://hypersoundhearing.com.

About Fuel Medical Group  Fuel Medical is a group of business professionals specializing in Audiology, Allergy, Sleep, Facial Plastics and Head & Neck surgery, who partner with elite multi-specialty physicians to help maximize their business and become market leaders. Fuel Medical's mission is to build meaningful relationships with partners who are passionate about patient care and to provide them with a better quality of life through the implementation of best practices and increased profitability. Hundreds of successful Ear, Nose & Throat practices have benefited from the management support provided by Fuel Medical Group, including marketing, web development, finance, operations and human resources.  Fuel Medical Group has received numerous awards for its rapid growth, stellar work environment and contributions to its local community. In 2014, Fuel Medical Group earned national recognition by landing on Inc. 500's list of the fastest growing private companies in the country, and additionally made the Portland Business Journal's list of fastest growing private companies in Oregon/SW Washington for the second year in a row. More information on Fuel Medical Group can be found on the company's website at http://www.fuelmedical.com.

About Turtle Beach Corporation  Turtle Beach Corporation (www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand (www.turtlebeach.com), the Company markets a wide selection of quality gaming headsets catering to a variety of gamers' needs and budgets, for use with video game consoles, including officially-licensed headsets for the Xbox One and PlayStation®4, as well as for personal computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The company's shares are traded on the NASDAQ Exchange under the symbol: HEAR

Forward-Looking Statements  This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Forward looking statements are based on management's statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "project", "intend" and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current belief, as well as assumptions made by, and information currently available to, management. 

While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, the substantial uncertainties inherent in acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, and other factors discussed in our public filings, including the risk factors included in the Company's most recent Annual Report on Form 10-K and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company any is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise. 

1 Hearing Aid Sales Increase by 4.8% in 2014; RICs Continue Market Domination, Hearing Review

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SOURCE Turtle Beach Corporation



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