Tympany Reports Strong Growth in Second Year with Launch of Revolutionary Hearing Testing and Diagnostic Technology.Business Editors/Health/Medical Writers HOUSTON--(BUSINESS WIRE)--May 5, 2004 Hearing Solutions Company Reports Success with Increased Sales of 1300% in 2003 Tympany tympany /tym·pa·ny/ (-ne) 1. tympanites. 2. a tympanic, or bell-like, percussion note. tym·pa·ny n. 1. Inc., a diagnostic healthcare technology company, today announced record continued growth amid challenging times in today's economic environment. Privately held, Tympany disclosed that its revenue growth from 2002 to 2003 has increased 1300%, while adding over 100 new customers compared to 6 customers in 2002. The company now has products in over 35 U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and versus 4 states in 2002. The company added 23 employees operating nationwide during this time period, an increase of 600%. Tympany raised $2 million of Series A Preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. in 2003 and in August 2003, the company converted $1.6 million of convertible debt into Series A Preferred Stock. Performing comprehensive audiometry in 8 languages, Tympany's product, the OTOGRAM(TM), is setting the standard for a new level of hearing diagnostics in physician practices, clinics, schools and mobile medicine units nationwide. The company expects similar growth to continue during the next several quarters and anticipates adding several employees to its current staff. Tympany also plans to launch its next generation product in 2004, which will include additional diagnostic tests such as tympanometry, acoustic reflex The acoustic reflex (or stapedius reflex) is an involuntary muscle contraction that occurs in the middle ear of mammals in response to high-intensity sound stimuli. and otoacoustic emissions An otoacoustic emission (OAE) is a sound which is generated from within the inner ear. Having been predicted by Thomas Gold in 1948, their existence was first demonstrated experimentally by David Kemp in 1978[1] . "Tympany was founded to address the current crisis of the nation's growing population of patients suffering from hearing loss. Ten percent of the population (28 million people) and 35-40% of the over 65 population suffer from hearing loss; however, only a small percentage of these individuals are actually diagnosed and treated. With Tympany's OTOGRAM(TM), hearing health professionals can conduct automated and self-administered diagnostic hearing testing in their offices without the need of a sound booth and clinical specialists," said Chris Wasden, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Tympany. "We are committed to assisting health care professionals in their mission to improve their patients' hearing health by delivering the four 'Cs' of our value proposition: cost, convenience, confidence and compensation to the doctor's office." Tympany's OTOGRAM(TM) brings automation, artificial intelligence and miniaturization min·i·a·tur·ize tr.v. min·i·a·tur·ized, min·i·a·tur·iz·ing, min·i·a·tur·iz·es To plan or make on a greatly reduced scale. min to the hearing health industry to meet the needs of the millions of people who suffer from chronic undiagnosed and untreated hearing loss. The patent-pending OTOGRAM(TM) uses artificial intelligence, touch-screen technology and proprietary hearing testing equipment to allow patients to self-administer the hearing test, after brief instructions from an administrator. The Ambient Surrounding. For example, ambient temperature and humidity are atmospheric conditions that exist at the moment. See ambient lighting. Noise Management System(TM), combined with specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. foam ear inserts, allows testing in any quiet examination room, without the need for a sound booth. The test can be conducted in multiple languages, including English, Spanish, Russian, Mandarin Mandarin (măn`dərĭn) [Port. mandar=to govern, or from Malay mantri=counselor of state], a high official of imperial China. For each of the nine grades there was a different colored button worn on the dress cap. , Cantonese, Vietnamese, Korean and Portuguese. Upon completion of the test, the patient's results are printed in a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. easy-to-read report and can be integrated with electronic medical records. With the OTOGRAM(TM) -- Tympany's first commercial product -- Tympany is revolutionizing the hearing health industry by allowing physicians, audiologists, hearing instruments specialists and other health care professionals to efficiently and effectively test and diagnose diagnose /di·ag·nose/ (di´ag-nos) to identify or recognize a disease. di·ag·nose v. 1. To distinguish or identify a disease by diagnosis. 2. more patients. About Tympany Tympany designs, develops, markets, sells and supports proprietary, automated diagnostic equipment to physicians and hearing health professionals. With the OTOGRAM(TM), Tympany is revolutionizing the hearing health industry by changing the way hearing tests have been conducted for the first time in decades. The OTOGRAM(TM) provides the following benefits: 1) allows health care professionals to add automated and self-administered hearing tests to their practices to better diagnose their patients in a convenient manner; 2) allows a practice to generate additional annual income; 3) doubles productivity of hearing health care professionals; and 4) provides technical capabilities for health care professionals to expand their practice scope and reach. Tympany is committed to eliminating the barriers to diagnosing hearing loss and assisting health care professionals improve their patients' hearing health efficiently and effective by delivering Tympany's value proposition: Cost, Convenience, Confidence and Compensation. For more information about Tympany or the OTOGRAM(TM), please visit the Web site at www.tympany.net or call 866-316-3606. |
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