Otix Global to Offer Franchise Opportunities in Australia
SALT LAKE CITY, May 25 Otix Global, Inc. (Nasdaq: OTIX), announced that its Australian division, HearingLife, has begun offering franchising opportunities to audiologists and audiometrists throughout Australia. HearingLife made the announcement at the annual Audiological Society of Australia (ASA) conference in Darling Harbour, Sydney. The ASA conference is equivalent to the American Academy of Audiology conference which is held in the U.S. each April.
Australia's HearingLife General Manager, Ashley Wilson, indicated that, "A traditional career path for an audiologist or audiometrist is generally a position in either a hospital, university or private clinic and most do not have the financial means to compete with the marketing dollars being invested by the larger hearing care retailers. Hearing care professionals want to focus on caring for their patients and, as a result, many times do not have the time or expertise to establish and manage a business with all the usual inherent commercial, human resource and marketing issues. Our franchising model provides the franchise owner with the tools and resources to overcome these obstacles."
HearingLife is a leading private sector hearing care provider and is one of Australia's first mainstream hearing care retailers with 154 locations throughout Australia. Providing hearing health care for over 75 years, HearingLife is one of Australia's largest employers of hearing care professionals, providing best-in-class hearing health services including hearing testing, diagnosis, consultation, rehabilitative advice and prescription of appropriate hearing instruments.
"We have always believed that the hearing care professional should focus on the needs of the patient. Our franchise model provides the audiologist or audiometrist interested in owning and managing their own business with the supporting infrastructure necessary to compete in the marketplace. We believe this opportunity for the Australian hearing industry will provide an exciting new career path for many hearing care professionals," stated Otix Global chairman and CEO Sam Westover.
About Otix Global
Otix Global designs, develops, manufactures and markets advanced digital hearing aids designed to provide the highest levels of satisfaction for hearing impaired consumers.
This press release contains "forward-looking statements" as defined under securities laws. Actual results may differ materially and adversely from those described herein depending on a number of factors but not limited to, the following risks: we face aggressive competition in our business; acquisitions could be difficult to integrate and disrupt our current business and therefore may harm our operating results; our franchise program may not be attractive to audiologists or audiometrists or may not produce the revenue and earnings we anticipate; our franchise program may harm our reputation in Australia or elsewhere and, therefore, have a detrimental impact on the remainder of our operations; we may poorly operate newly acquired or franchised businesses; we may experience disagreement or disputes with franchise owners which may impact the operation of the franchise operation; our systems of internal control with the franchisees may be ineffective; deterioration of economic conditions could harm our business or the business of our franchisees; we may be subject to litigation related to our franchise relationships; we may lose a large customer or suffer a reduction in orders from a large customer; we must have innovative, technologically superior products to compete effectively; our products, due to their complexity, may contain errors or defects that are only discovered after sales by our customers, thus harming our reputation and business; we may have issues with intellectual property; we may trigger a debt covenant default which could impact our working capital and potentially disrupt our operations; and we have important international operations, which expose us to a variety of risks including government reimbursement and foreign currency exchange fluctuations, that could impact sales and operating results. For additional information regarding the risks inherent in our business, please see "Factors That May Affect Future Performance" included in our Annual Report on Form 10-K for the year ended December 31, 2009, and Form 10-Q for the quarter ended March 31, 2010, as filed with the Securities and Exchange Commission.
We undertake no obligation to revise our forward-looking statements to reflect events or circumstances after the date hereof as a result of new information, future events or otherwise.
SOURCE Otix Global, Inc.
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