SAN DIEGO, CA--(Marketwired - Nov 7, 2013) - Parametric Sound Corporation (NASDAQ: PAMT), a leading innovator of audio products and solutions, and Delos®, the pioneer of Wellness Real Estate™, today announced a technology and commercial development agreement to integrate Parametric Sound's HyperSound® directional audio with noise cancelling technology into Delos' innovative health and wellness technologies and designs for homes, hotels, hospitals and office environments.
"We are very excited to partner with Delos, the expert in building wellness," said Ken Potashner, executive chairman, Parametric Sound. "Through our combined Intellectual Property, R&D and engineering resources, we expect to develop a unique audio solution for improving noise or sound intrusions within residential, hospitality, healthcare and office environments."
With an impressive Advisory Board, Delos integrates the best of medical science and preventative healthcare to create living environments that enhance the well-being of individuals through daily interactions with innovative healthy living features, setting a new standard for living well. A result of six years of research and collaboration with a board of researchers and doctors from Columbia University Medical School, as well as with architects, engineers and contractors, Delos' WELL™ Building Standard is the first building standard focused exclusively on enhancing people's health and well-being through the built environment.
"Parametric's HyperSound technology and extensive audio technology patents are remarkable and we foresee many partnership opportunities, including the licensing of Parametric's patented technology as part of Delos' acoustical control offering," said Delos Founder Paul Scialla. "We are eager to work together on developing and delivering breakthrough solutions for residential, office, healthcare and hospitality markets, among others."
HyperSound delivers high fidelity audio in a directional beam using thin sound emitters -- a radical innovation in speaker technology. Currently used in commercial applications including retail digital signage, the innovative technology is expected to have transformative applications in video game audio, personal computers, mobile devices, televisions and for commercial and home theaters. The Company's patented and patent-pending technology continues to demonstrate positive results for those with hearing deficiencies and shows potential for future health care applications.
Additional terms of the agreement are not made available at this time.
About Parametric Sound Corporation
Parametric Sound Corporation is a pioneering innovator of directed audio solutions. With a substantial body of intellectual property, Parametric Sound is the foremost authority in the application of acoustic technology to beam sound to target a specific listening area without the ambient noise of traditional speakers. Distinct from surround sound, HyperSound™ immerses listeners in a robust 3D audio experience from just two speakers. The Company's disruptive technology is being marketed to three global market sectors: Consumer Markets -- for PCs, gaming, TVs, home theater and handhelds, Commercial Markets -- for digital signage, kiosks and retail stores, and Health Care -- for an out-of-ear solution being developed for the hearing impaired. For more information please visit the Company's website at www.parametricsound.com.
About Delos
A U.S.-based real estate developer, Delos® has pioneered Wellness Real Estate™, which incorporates amenities that help sustain both the environment and enhance residents' health and well-being. In 2012, Delos introduced the WELL Building Standard™ with President Clinton, the world's first building standard focused exclusively on enhancing people's health and well-being in direct, evidence-based ways through the built environment. Delos designs include an array of innovative, built-in amenities that research suggests will improve various aspects of individual occupant health including: cardiovascular, respiratory and sleep health, orthopedic health, weight and metabolism management, stress reduction, mood enhancement, cognition and memory enhancement, health literacy and health behavior motivation.
The Delos Advisory Board includes a distinguished panel of luminaries in the fields of wellness, science, public policy, real estate and business. Advisors include: Dr. Deepak Chopra, world renowned health and wellness expert; the Honorable Dick Gephardt, former House of Representatives Majority Leader; Senator Mel Martinez, R-Fla. and former Senator and HUD Secretary; the Honorable Terry McAuliffe, former Chairman of Bill Clinton's Presidential Campaign and Former DNC Chairman; Jason McLennan, world renowned sustainable building expert; Dr. Michael Roizen, Chief Wellness Officer at Cleveland Clinic; Dr. Nicholas LaRusso, Director of the Center for Innovation at Mayo Clinic; Sue Firestone, Founder and Chairman of Smith/Firestone Associates; and Dolly Lenz, Former Vice Chairman of Prudential Douglas Elliman. More information on Delos and its Advisory Board is available at www.delosliving.com.
Trademark Information: HyperSound and HSS are registered trademarks of Parametric Sound. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that expectations are based upon reasonable assumptions, there can be no assurances that goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include uncertainties regarding the ability to successfully develop new technology applications in a timely manner or at all, obtain and retain development partners, customers or licensees in target sectors in a timely manner, the acceptance of existing and future products, the impact of competitive products and pricing, unanticipated delays in manufacturing and shipping products to customers, the timing and scheduling of customers' rollout plans, general business and economic conditions and other factors detailed in the Company's Annual Report on Form 10-K and other periodic reports filed with the SEC. The Company specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.