The Woburn, MA-based company said it was considering options that include the acquisition of new assets, a merger, or the sale of assets.

Omar Ford

February 15, 2024

1 Min Read
Image Credit: olm26250 via iStock / Getty Images

Change is coming for NeuroMetrix.

Earlier this week, the Woburn, MA-based company said it was considering a wide range of options, including changes in marketing strategies, the acquisition of new assets, potential sale of company assets, and merger or other strategic transactions.

The company said it was making these changes to promote growth and maximize shareholder value.

“There are attractive opportunities for both vertical and horizontal growth with our Quell neuromodulation technology,” said Shai Gozani, MD, PhD, CEO of NeuroMetrix. “We are also reviewing our DPNCheck business in light of the fundamental Medicare Advantage risk adjustment changes implemented by CMS last year. Growth initiatives consume financial resources and, in the near-term, we are fortunate to have adequate funding. However, our perspective extends beyond the near term. We intend to continue carefully managing our liquid resources, optimizing cash flow, and taking advantage of funding opportunities. The exploration of strategic options is intended to complement these efforts with the goal of best positioning the company for growth while optimizing shareholder interests."

NeuroMetrix develops devices aimed at reducing the impact of neurological disorders and pain syndromes.

Related:NeuroMetrix Scoops up $3.8M Milestone Payment from GSK

The company's products are wearable or hand-held medical devices enabled by proprietary consumables and software solutions that include mobile apps, enterprise software and cloud-based systems. The company has two commercial brands. Quell is a wearable neuromodulation platform. DPNCheck is a point-of-care screening test for peripheral neuropathy.

About the Author(s)

Omar Ford

Omar Ford is MD+DI's Editor-in-Chief. You can reach him at [email protected].

 

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