NeuroMetrix CEO Discusses Significance of WellMed Adoption of NC-stat® DPNCheck™

WALTHAM, Mass.--(BUSINESS WIRE)--May. 17, 2012-- NeuroMetrix, Inc. (Nasdaq: NURO), www.neurometrix.com, is a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes. Shai N. Gozani, M.D., Ph.D., President and Chief Executive Officer cited the recent adoption of the company’s diagnostic device, NC-stat DPNCheck, by WellMed Medical Management, www.wellmedmedicalgroup.com, as important evidence of the product’s potential in the managed care sector. Dr. Gozani detailed the significance of the WellMed agreement in an interview with CEONews.Tv at: http://www.ceonews.tv/nuro/

WellMed is integrating NC-stat DPNCheck into their patient evaluation program to help identify patients with diabetic peripheral neuropathy (DPN), one of the major complications of diabetes. WellMed, headquartered in San Antonio, Texas is a diversified healthcare company and health plan provider serving more than 87,000 patients and plan members, mostly Medicare-eligible seniors in Texas and Florida.

Dr. Gozani noted in CEONews that DPN can lead to foot ulcers and amputations. NC-stat DPNCheck helps detect DPN much earlier than current methods, providing an opportunity to slow or even halt disease progression, Dr. Gozani said.

In another interview on the OneMedRadio financial news network at http://www.onemedplace.com/blog/archives/10970, Dr. Gozani provided an update on the SENSUS™ pain management device which is specifically designed to address chronic pain, such as that caused by DPN. Dr. Gozani said the company has initiated the regulatory process with a premarket notification filing with the Food and Drug Administration (FDA) and hopes to launch SENSUS later this year, pending FDA 510(k) clearance.

Dr. Gozani noted that DPN is the most common chronic complication of diabetes, affecting about 50% of all people with diabetes, or 10 million people in the U.S. and over 150 million worldwide. He said that NeuroMetrix is the only medical device company focused on DPN.

Dr. Gozani also discussed markets for NC-stat DPNCheck which include endocrinologists and podiatrists, primary care physicians, retail health, managed care and international. He singled out retail health as an attractive market. It includes pharmacies and medical clinics. Dr. Gozani noted that Wal-Mart Canada will be deploying NC-stat DPNCheck in about 100 of its pharmacies that focus on diabetes care.

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 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 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.

Source: NeuroMetrix

NeuroMetrix, Inc.
Thomas T. Higgins, 781-314-2761
Chief Financial Officer
neurometrix.ir@neurometrix.com