Big-striding Aussie OTC producer Nuheara goes into voluntary administration

In 2019, the Australian hearing tech producer Nuheara was shining bright enough as a lone star for Samsung to try to buy it for AU$84m (approx US$55.3m). In the end - and it looks like the end now - a financial fizzle has meant the company looking more like a shooting star as it failed to match the promise of its technology. Perth-based Nuheara announced its move into voluntary administration just days ago, appointing KPMG administrators to take over. A KPMG spokesman told NewsWire administrators were conducting an “urgent assessment” of the business and that Nuheara would continue to trade throughout the process.  A first creditors’ meeting is booked for August 19. Nuheara has 22 employees, including a sales representative in the USA. According to the Sydney Morning Herald, the company has gone into administration after failing to raise funds to meet a deal with a Taiwan business partner, Realtek, with whom it was working on a new chip to power...