hear.com, a hearing care services provider being spun out of WS Audiology, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
hear.com states that it is the largest online provider of expert, medical-grade hearing care globally. The company first meets its consumers online, then engages with them via telephone. Consumers that decide to continue with hearing tests and fittings can do so in person through the company's global network of over 5,000 locations or remotely through its proprietary teleaudiology solution Clinic-in-a-Box.
The Utrecht, Netherlands-based company was founded in 2012 and booked $194 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol HCG. Morgan Stanley, J.P. Morgan, Deutsche Bank, Goldman Sachs, BofA Securities, William Blair and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
