IntriCon Corporation (NASDAQ:IIN) is a small company with big promise. In the past year, IIN is up 611% and year to date it’s up over 200%.

Granted, its market cap is less than $500 million, so now that investors see the growth potential, the stock is getting a lot of attention from mutual funds, institutional investors and momentum traders. This is typical of a small company that shows not just potential but is delivering on the top and bottom lines quarter after quarter.

It’s a very exciting time for IIN and its investors. And the good news is, it is well positioned to continue its growth well into the future.

Let’s Learn About IIN Stock

But before I get ahead of myself, let me tell you what IIN does, so you have a better understanding of what makes it so interesting here.

It makes miniature and micro-miniature body-worn devices that have medical applications. So, it’s a medical device manufacturer but its devices are very small.

IIN has been around for 40 years and started in the hearing aid business. It’s still a player in this space and has been growing its market share consistently for years.

If you’re unaware, the new generation of hearing aids are digital and much smaller than they used to be. They are also much better at separating voices from background noise, less uncomfortable to wear and last longer without new batteries or recharging.

All these advances also mean they’re expensive. A set of quality hearing aids — ones that are fitted and tuned to your exact requirements — run from $1,000 to $4,000.

Insurance, the Veterans Administration and Medicare and Medicaid will come some of the costs, but it varies. And usually private plans will allow you buy a new pair every couple years, although they may only cover 85% of the costs.

This was always an attractive angle for IIN because the simple fact is, as people age, their hearing goes. And the rock ‘n’ roll generation of baby boomers are starting to get to that point.

And behind them are a generation of millennials that have had headphones or ear buds stuck in their ears for most of their youth and adult life.

But the real blockbuster for IIN has been its partnership with medical device maker Medtronic PLC (NYSE:MDT). Both have their operational headquarters in Minnesota, although MDT has a corporate headquarters in Ireland for tax purposes.

MDT has a $120 billion market cap and is major player in the medical device sector. And IIN is along for a big ride with MDT and its continuous glucose monitoring (CGM) systems. Basically this is a small glucose monitor that can be worn all day and allow diabetics to check their glucose levels without pin pricks, or stopping what they’re doing.

In its recent Q2 earnings report, IIN noted that sales to MDT were up 59% compared to the same quarter last year. Margins were up more than 10%. And its medical business in general was up 49% for the quarter compared to the same quarter last year.

And best yet, during the quarter IIN started operations at its new 37,000 square foot production facility.

Louis Navellier is a renowned growth investor. He is the editor of four investing newsletters: Growth Investor, Breakthrough Stocks, Accelerated Profits and Platinum Growth. His most popular service, Growth Investor, has a track record of beating the market 3:1 over the last 14 years. He uses a combination of quantitative and fundamental analysis to identify market-beating stocks. Mr. Navellier has made his proven formula accessible to investors via his free, online stock rating tool, PortfolioGrader.com. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.