Hearing-aid maker moves to larger space
Sophono received $7 million in venture-capital financing in August. The company has added 10 new employees in recent weeks and plans to add 10 more in marketing and manufacturing jobs by the end of the year, said Jim Kasic, company president and chief executive officer. Sophono currently has 22 employees.
Sales have been growing about 10 percent per month after a company-produced hearing aid received U.S. food and Drug Administration approval in 2011, Kasic said at the time. Sophono previously was located at 3022 Sterling Circle, Suite 100, in Boulder.
"The move accommodates the tremendous growth Sophono has experienced and allows for continued expansion with our latest product introduction," Kasic said in a press statement
Sophono recently introduced its second-generation Alpha 2 hearing device. The implantable bone-anchored hearing device is designed for individuals suffering from severe hearing loss or impairment.
About 2 million people - representing a $120 million market that's growing about 30 percent per year - could benefit from using the implantable hearing device, Kasic has said. Sophono also has an office in Germany, and sells its devices through distributors in more than 20 countries.
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