RCA OTC Hearing Aids to improve access to safe, effective and affordable hearing aids for millions of Americans

INDIANAPOLIS, May 1, 2023 /PRNewswire/ -- RCA Accessories today announced its plans to enter the over-the-counter ("OTC") hearing aid market with an assortment of RCA^® OTC Hearing Aids scheduled for launch on May 8, 2023.

In August 2022, the U.S. Food and Drug Administration ("FDA") issued a final rule to improve access to hearing aids which may in turn lower costs for millions of Americans. With this ruling, a new category of over-the-counter hearing aids was born, enabling consumers with perceived mild to moderate hearing impairment to purchase hearing aids directly from stores or online retailers without the need for a medical exam, prescription or a fitting adjustment by an audiologist. This new ruling is expected to assure the safety and effectiveness of OTC hearing aids, while fostering innovation and competition in the hearing aid technology marketplace. RCA OTC Hearing Aids meet all FDA requirements and are FDA compliant.

According to the National Institute of Deafness and Other Communication Disorders, close to 30 million adults in the U.S. could benefit from hearing aid use. Further, it is estimated that ~15% of American adults (37.5 million) aged 18 and over report some trouble hearing¹ with the greatest amount of hearing loss in the 60 to the 69 age group². With this new ruling, the OTC category has been created, applying to certain air-conduction hearing aids intended for people 18 years of age are older with perceived mild to moderate hearing loss. Now, consumers are able to purchase hearing aids directly from online retailers and stores without the need for a medical exam, prescription of a fitting adjustment to an audiologist.

Dubbed "Readers For Your Ears", the RCA OTC Hearing Aids can help millions of Americans suffering from hearing loss, irrespective of age and at affordable price points. "Millions and millions of people  suffer from hearing loss yet many have been restricted from a solution. With the FDA ruling last fall, this changed the landscape, and now, those suffering from mild to moderate hearing loss can purchase hearing aids at retail or online, bypassing the extraneous medical process and removing much of the financial burdens that prohibited them in the past. And our RCA OTC Hearing Aids are amongst the most affordable and easiest to use," said Ian Geise, President of Voxx Accessories Corporation.

Mr. Geise continued, "RCA has been one of the most established consumer electronics brands over the past century. The RCA OTC Hearing Aids we will be launching are several thousand dollars less expensive than that of prescription devices. They are for everyone suffering from hearing loss, not just the elderly and those with more severe conditions. RCA has been a trusted and leading brand in audio and consumer electronics and this is a natural extension for the brand and one that we believe, will be appealing to the vast majority of our target audience after decades of performance and trust. Many of the current OTC hearing aids are still $500 - $1,000, and more, and are just not affordable for millions of consumers. We developed solutions that meet FDA requirements, deliver the sound enhancements to improve lives, and ones that are affordable to the masses."

RCA OTC Hearing Aids will launch initially with Direct Response TV featuring various commercial formats with major TV networks such as CNN, ESPN, FOX NEWS, MSNBC, HGTV, TNT and more. The launch will also include strong presence on social media. RCA hearing aids will be able to be purchase direct via 800 number and web shop as well as featured on Amazon.com. 

The first two models the Company will commercialize are:

• RCA Model RSH05 – OTC Rechargeable Hearing Aid – This solution is discreet, classic and developed to ergonomically fit behind the ear, amplifying the volume of sound, both indoors and outside. It comes in beige or grey, with an adjustable volume control wheel (right or left ear compatible), 20 hour battery life and is IPX4 water-resistant. It is equipped with three (3) different size ear domes, a USB C charging cable, cleaning kit and a hard carrying case. EDRP: $199/pair.
  
  
• RCA Model RSH20 – OCT Rechargeable Digital Hearing Aids – These earbud style hearing aids, also available in beige or grey, are the perfect digital solution, delivering multi-channel noise reduction and a natural sound experience. There are 16 digital channels with multi-channel WDRC voice processing, activated with the simple press of a button. The Digital Power Display is easy to read, there are five level volume controls and the earbud battery is good for 20-30 hours on a single charge. It is equipped with three (3) different size ear domes, and the portable charging case provides up to 90 hours of additional use. EDRP: $299/pair.

For more information on RCA Hearing Aids, please visit us at: www.rcahearingaids.com.

About RCA: 
The RCA brand is one of the most recognized and established brands in the consumer electronics industry. Marketed by VOXX Accessories Corporation, a wholly owned subsidiary of VOXX International Corporation (NASDAQ: VOXX), the RCA brand continues its tradition of innovation and market leadership, as the #1 brand in the US for universal remote controls and TV reception products.

About VOXX International Corporation 
VOXX International Corporation (NASDAQ: VOXX) has grown into a leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security. Over the past several decades, with a portfolio of approximately 35 trusted brands, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, reception products, a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world's leading automotive manufacturers. For additional information, please visit our website at www.voxxintl.com

Safe Harbor Statement
Except for historical information contained herein, statements made in this release constitute forward-looking statements and thus may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to the: risk factors described in the Company's annual report on Form 10-K for the fiscal year ended February 28, 2022, and other filings made by the Company from time to time with the SEC. The factors described in such SEC filings include, without limitation: the impact of the COVID-19 outbreak on the Company's results of operations, global supply shortages and logistics costs and delays; cybersecurity risks; risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the automotive electronics, consumer electronics and biometrics businesses; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; foreign currency fluctuations; and restrictive debt covenants. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic, the War in the Ukraine and any worsening of the global business and economic environment as a result. The Company assumes no obligation and does not intend to update these forward-looking statements.

VOXX International Investor and Media Relations Contact:
Glenn Wiener
GW Communications
Email: gwiener@gwcco.com

1 - Blackwell DL, Lucas JW, Clarke TC. Summary health statistics for U.S. adults: National Health Interview Survey, 2012 (PDF). National Center for Health Statistics. Vital Health Stat 10(260). 2014.

2- Hoffman HJ, Dobie RA, Losonczy KG, Themann CL, Flamme GA. Declining Prevalence of Hearing Loss in US Adults Aged 20 to 69 Years. JAMA Otolaryngology – Head & Neck Surgery. December 2016 online

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SOURCE VOXX International Corporation