PE-backed TruHearing appoints new CEO

TruHearing said Friday that it has named Tommy Macdonald as CEO. The appointment is effective Nov. 1, 2013. Previously, Macdonald worked at Bain & Company and most recently, Sorenson Capital, which holds a minority stake in TruHearing. Based in Utah, TruHearing is a provider of hearing aids and services at affordable prices.

PRESS RELEASE

WEST JORDAN, Utah–(BUSINESS WIRE)–TruHearing, which provides discount programs offering significant savings on digital hearing aids and services to members of select health plans, has named Tommy Macdonald CEO, effective Nov. 1, 2013.
Macdonald has been president of the Utah-based company since February 2013. Before joining TruHearing, he held positions at Bain & Company and most recently at Sorenson Capital, the private equity fund that acquired a minority interest in TruHearing in late 2012. Macdonald holds a B.A. from Brigham Young University and an MBA from the Stanford University Graduate School of Business.
TruHearing contracts with a select group of health plans to offer considerable savings to their members on state-of-the-art digital hearing aids from five of the world’s leading manufacturers and TruHearing’s private label selection. TruHearing works through a network of over 3,000 contracted hearing professionals to deliver personalized service and hearing aid fittings to their customers.
“During the past nine months, Tommy Macdonald has demonstrated his expertise and exceptional leadership skills by successfully maneuvering TruHearing through this critical hyper-growth stage,” said TruHearing founder and current CEO Lindsay Atwood, who is retiring but will continue serving as Chairman of the Board. “The board of directors has the utmost confidence in his ability to lead TruHearing through this next stage of sustained growth and beyond as the company continues to deliver substantial value to its health plan partners, patients, contracted providers and employees,” Atwood said.
Atwood founded TruHearing in 2003 with the goal of delivering brand-name hearing aids and professional hearing services at affordable prices, improving the quality of life of individuals nationwide. Initially developed at the request of health plans to help reduce costs to their members, TruHearing’s program can saves customers thousands of dollars on hearing aids.
Access to these savings historically cost members $108; however, to bring even more value to health plan members, that fee has been permanently eliminated. “TruHearing strives to deliver quality, service and savings to our health plans and their members,” Atwood said. “Providing access to our pricing at no cost provides even more value to our customers.”
ABOUT TRUHEARING
TruHearing (www.truhearing.com) provides exclusive discounts on the latest hearing aid technology to members of select health plans nationwide. TruHearing works with a contracted network of more than 3,000 hearing professionals to deliver personalized service and fitting that ensures patient satisfaction. Founded in 2003 and based in Utah, TruHearing’s pricing is not available to the general public. Individuals can access TruHearing programs through participating health plans. For more information, visit www.truhearing.com. Hearing care professionals can learn more about joining the TruHearing network of providers by calling 877-360-2441 or emailing administration@truhearing.com.