NeuroMetrix Announces Distribution Agreement with OneSource Medical Group for SENSUS Pain Management DeviceWALTHAM, Mass.--(BUSINESS WIRE)--Nov. 1, 2012--
NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on
the diagnosis and treatment of the neurological complications of
diabetes, today announced the signing of a distribution agreement with
OneSource Medical Group, LLC (OSMG) of
Clearwater, Florida for its SENSUS
™
pain management device.
OneSource Medical Group concentrates its sales
efforts in the south east and south central
United States. Its primary
focus is diabetes testing supplies and it also covers pain management
products and urological supplies.
The SENSUS pain management device is a transcutaneous electrical nerve
stimulator intended for the symptomatic relief and management of chronic
intractable pain in the lower leg and foot. It is a light weight, low
profile device worn on the upper calf and activated by the press of a
single button. It can be placed in seconds and may be worn under
clothing. NeuroMetrix received FDA clearance for the SENSUS device in
August and is planning full product launch during the first quarter of
2013. SENSUS may be used to help manage chronic pain in diabetes
patients with painful diabetic neuropathy.
“OneSource Medical Group’s diabetes focus makes them a natural partner
for SENSUS launch,” said Shai N. Gozani M.D., Ph.D., President and Chief
Executive Officer of NeuroMetrix. “We are pleased to join with OSMG as
our first SENSUS distributor in a planned national network which will
provide broad product exposure and patient delivery capability.”
“SENSUS fits nicely into our diabetes product suite which today includes
blood glucose meters, pumps, syringes and other products,” said Eric
Sternberg, Chief Operating Officer of One Source Medical Group. “We are
particularly impressed with the innovative SENSUS design features and
convenience for patient use. We anticipate strong interest from our
physician clientele.”
About NeuroMetrix
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 chronic 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
company’s 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 which recently received Food and Drug
Administration clearance. The company has additional therapeutic
products in its pipeline. For more information, please visit http://www.neurometrix.com.
Source: NeuroMetrix, Inc.
NeuroMetrix
Thomas T. Higgins, 781-314-2761
SVP and Chief
Financial Officer
neurometrix.ir@neurometrix.com
