NeuroMetrix Ships 500th Medical Device For Detecting Nerve Damage in Diabetics
NC-stat® DPNCheck" device addresses unmet medical need
WALTHAM, Mass.--(BUSINESS WIRE)-- NeuroMetrix, Inc. (NURO) (Nasdaq: NURO), www.neurometrix.com, a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes, today announced that it shipped its 500th NC-stat® DPNCheck" device. NC-stat DPNCheck is a fast, accurate and quantitative point-of-care test for the evaluation of systemic neuropathies such as diabetic peripheral neuropathy (DPN). DPN affects more than half of people with diabetes and may lead to foot ulcers and limb amputation, as well as pain and an overall reduction in quality of life.
Dr. Shai Gozani performs a NC-stat DPNCheck test used to evaluate diabetic peripheral neuropathy. (Photo: Business Wire)
The placement of 1,000 NC-stat DPNCheck devices is one of our important 2012 goals and we have reached the half-way point ahead of plan, said Shai N. Gozani M.D., Ph.D., President and Chief Executive Officer. Most encouraging has been the interest level weve seen in our various markets including managed care, endocrinology and podiatry clinics, and in the retail health sector. All of these markets recognize the value of early and accurate identification of DPN leading to opportunities for intervention ultimately resulting in improved patient care and lower costs.
NeuroMetrix is an innovative medical device company that develops and markets home use and point-of-care devices, associated consumables, and support software for the treatment and management of diabetes and its complications. The company is focused on nerve related complications of diabetes, called diabetic neuropathies, which affect over 50% of people with diabetes. If left untreated, diabetic neuropathies trigger foot ulcers that may require amputation, cause disabling pain, and increase the risk of falling in the elderly. The annual cost of diabetic neuropathies has been estimated at $14 billion in the United States. The companys products are used by physicians and other clinicians, in retail health settings such as pharmacies, and by managed care organizations to optimize patient care and reduce healthcare costs. The company markets the NC-stat® DPNCheck" device, which is a rapid, accurate, and quantitative point-of-care test for diabetic neuropathy. This product is used to detect diabetic neuropathy at an early stage and to guide treatment. The company is in late stage development of SENSUS ", a pain management device that will be used to treat painful diabetic neuropathy, a form of chronic intractable pain. Currently, painful diabetic neuropathy is treated pharmacologically, which is a $2 billion annual market. The company has additional therapeutic products in its pipeline. For more information, please visit http://www.neurometrix.com.
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Thomas T. Higgins, 781-314-2761
Chief Financial Officer
Source: NeuroMetrixCopyright Business Wire 2012