Audio technology company Nuheara Limited (ASX: NUH) has secured access to a major customer base following the registration of their smart hearing solutions under the National Disability Insurance Scheme (NDIS).
This will provide Australians with access to almost the full range of Nuheara products, many of which will assist the 29% of NDIS participants who identify as autistic.
“Since inception, we have had anecdotal evidence to suggest that Nuheara’s products would support people on the autism spectrum,” said Nuheara CEO, Justin Miller.
“We always wanted to expand our market scope but wanted to ensure this would be based on evidence-driven findings. Our preliminary results from an Autism study commissioned last year with the University of Melbourne have been positive.”
“The fact that Nuheara’s products are now available as part of the NDIS – for children and adults – is an important step in this market expansion.”
Auditory Processing Disorder (APD) is a common secondary diagnosis for people with Autism whilst the NDIS is providing Australians with disabilities significant financial assistance to gain access to assistive technology and innovation.
In their Q3 18/19 report, the NDIS reported more than 277,000 Australians were benefiting from NDIS funding with Autism the primary disability (76,424) of active participants with an approved plan.
The move continues Nuheara’s commitment to the audio device market having now sold more than 35,000 pairs of their IQbuds – wireless earbuds. The company had previously forayed into mining but earlier in the month reported the sale of their Peru mining tenements and is actively dissolving the remainder of their mining portfolio.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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