Esteem Hearing Device Maker Envoy Medical Looking For Up to $20 Million

The St. Paul, Minnesota company that got national attention for a viral YouTube video last month is looking to raise up to $20 million in equity offerings, according to a filing with the U.S. Securities and Exchange Commission last week. Envoy Medical Corp. is the maker of Esteem, a battery-operated, implantable hearing device that received U.S. Food and Drug Administration approval in 2010. It picks up vibrations from the ear drum and converts them into electric signals, which are cleaned up through a sound processor and converted back into mechanical vibrations transmitted into the cochlea.