WALTHAM, Mass.--(BUSINESS WIRE)--NeuroMetrix, Inc. (Nasdaq: NURO - News), a science-based medical device company advancing patient care through the development and commercialization of innovative products that aid physicians in the assessment, treatment, and repair of peripheral nerve and spinal cord injuries and disorders, and that provide regional anesthesia and pain control, announced today that it will reorganize its US sales operations to optimize sales of current products and commercialization of its product pipeline.
The Company will split its US sales operations into three market segments: neurology, neurointerventional, and physician office. The neurology market includes neurologists and physical medicine and rehabilitation (PM&R) physicians. The Company will market the ADVANCE NCS/EMG System into this channel. The neurointerventional market will include neurosurgeons, orthopedic surgeons, pain medicine physicians, and anesthesiologists. The Company will market the ADVANCE NCS/EMG System and the ASCEND nerve localization system, upon obtaining necessary regulatory approvals, into this channel. The Company is developing additional neurointerventional products, including the Andara™ Oscillating Field Stimulator (OFS™), which is an investigational device for the treatment of acute spinal cord injury. The physician office channel will include primary care physicians, internal medicine physicians, endocrinologists, rheumatologists, and occupational medicine physicians. The Company will market the NC-stat System into this channel.
Shai N. Gozani, M.D., Ph.D., NeuroMetrix’s President & CEO said, “As we continue to diversify our product offerings, we must also realign our sales operations to effectively distribute and commercialize our products. Our US sales organization currently consists of about 35 sales representatives and managers. Through this reorganization we may modestly increase our number of sales professionals. We expect implementation of this reorganization to be completed over the next few quarters.”
Dr. Gozani added, “We have a search underway for an experienced executive to oversee our overall sales function. This individual will be responsible for both our US sales organization and our international sales operations, which we are building through regulatory registrations and distribution agreements. In connection with this reorganization, I have accepted the resignation of Monty Hukill, our Vice President of Diagnostic Device Sales. Monty has had a long and successful tenure with NeuroMetrix, and I wish him the best in his future endeavors.”
About NeuroMetrix
NeuroMetrix is a science-based medical device company advancing patient care through the development and commercialization of innovative products that aid physicians in the assessment, treatment, and repair of peripheral nerve and spinal cord injuries and disorders, and that provide regional anesthesia and pain control. To date, our focus has been primarily on the assessment of neuropathies. Neuropathies affect the peripheral nerves and parts of the spine and are frequently caused by or associated with carpal tunnel syndrome, diabetes, sciatica, and other clinical disorders. We market systems for the performance of nerve conduction studies and needle electromyography procedures.
Our product pipeline includes a system designed to deliver pharmacologic agents such as anesthetics and corticosteroids in close proximity to nerves for regional anesthesia, pain control and the treatment of focal neuropathies. We are also developing neurostimulation-based devices that promote nerve fiber regeneration in acute peripheral nerve and spinal cord injuries.
For more information, visit http://www.neurometrix.com.
Contact:
NeuroMetrix, Inc. Joseph A Calo, 781-314-2775 Acting CFO neurometrix.ir@neurometrix.com
