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Nuheara (ASX: NUH)

Nuheara surprised investors and closed out the week with its shares trading 50% higher.

The reason for the sharp rise was mainly due to the news that its smart personal hearing devices, dubbed IQBuds and IQBuds Boost, will soon be offered en masse to Australian residents, courtesy of the government’s Hearing Services Program (HSP).

Its proprietary devices are to be added to Australia’s national support scheme which spends over A$500 million each year supporting patients with hearing loss.

The government-backed validation means Nuheara could be set for strong uninterrupted sales for years to come, assuming they hold up to users’ expectations and serve as useful and reliable tools for patients.

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