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In January, Miller showed off Nuheara’s new headphones at CES, the world’s largest consumer electronics show, in Las Vegas.
He said at the time: “Nuheara’s next generation hearing medical devices use a single-chip solution, which means smaller size and improved performance, matching and in some cases exceeding the performance of more expensive products from the world’s top five hearing aid manufacturers.”
“With this single-chip solution, Nuheara is opening up multiple opportunities to provide interested OEMs with their own branded solutions, further increasing our revenue stream. We demonstrated the next generation product at CES 2024, which was previewed to OEMs under non-disclosure agreements and received great reviews.
“We are excited to spend time on the ground at Walmart and Target to meet our customers and showcase our leading over-the-counter (OTC) medical hearing aids.”
Based in Perth, Nuheara launched its flagship product IQbuds in 2016 and listed on the Australian Stock Exchange in the same year through a reverse takeover of Wild Acre Metals. It became the first consumer wearable technology company to be listed on the Australian Stock Exchange.
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Nuheara was offered an $84 million takeover bid by South Korean electronics giant Samsung in 2019 when the company’s share price was 7¢. Samsung reportedly imposed several conditions in its offer, including a requirement for Nuheara’s board of directors to unanimously approve the offer and for the company to fully relinquish its mining interests.
Samsung reportedly pulled out of the deal at the last minute as it realised the transaction needed to be disclosed to the market.
Nuheara managing director Justin Miller and KPMG administrator Martin Jones were asked to comment.
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