Eargo
Eargo, which makes tech-enabled hearing aids, and hearX, maker of Lexie hearing aids, announced they have merged to form a new company, LXE Hearing.
Healthcare investment firm Patient Square Capital now owns approximately three-quarters of Eargo's outstanding common stock.
The company will expand its team and product offerings, including direct-to-consumer operations, thanks to the FDA's approval of over-the-counter sales of hearing aids.
The company is selling the devices for $2,950.
The company’s stock took a nosedive yesterday after it filed an SEC document.
The company created a new in-app screening test for users to establish a personalized hearing profile based on the results.
The company sells connected hearing devices directly to consumers.
Users can adjust settings for the devices through a corresponding app.