Audeara's Entry into Chinese Hearing Aid Market

Audeara Ltd (ASX:AUA) has entered into a binding Letter of Intent ('LOI') with Eastech Holding Limited (TWSE: 5225) to deliver its innovative healthy hearing technology into the Chinese medical device market. Eastech, a leading provider of high-tech solutions, will utilize Audeara's technology and services to develop medical devices for the Chinese market, targeting the estimated 426 million people suffering from hearing loss in China.

Executive Commentary on Partnership

Eastech Executive Director, Tony Chang, expressed, 'This partnership with Audeara aligns perfectly with our mission to bring advanced medical technologies to China. We look forward to working closely with Audeara to ensure the successful introduction of this groundbreaking product into the Chinese market.' Audeara CEO, Dr. James Fielding, added, 'We are very excited to have secured this binding LOI with a partner of Eastech's calibre. The execution of this agreement represents a significant milestone in the Company's expansion into the Asia Pacific region, alongside a leading industry partner.'

Summary of Audeara's Expansion

Audeara's partnership with Eastech marks a significant milestone in the company's expansion into the Asia Pacific region, particularly the Chinese market. With an estimated 426 million people suffering from hearing loss in China, the agreement presents a substantial opportunity for Audeara to deliver its innovative healthy hearing technology. The company is confident that this partnership will significantly expand its market presence in China and pave the way for a robust pipeline of future opportunities. Audeara's focus on tailored listening experiences and its access to potential customers and product development expertise position it well to add considerable value to the healthcare market in China.