NeuroMetrix Enters Into Agreement with Simplex Healthcare for Distribution of the SENSUS Pain Management System
September 24 2013 - 12:45PM
Business Wire
NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company
focused on management of chronic pain and peripheral neuropathies,
today announced that it had entered into an agreement with the
Diabetes Care Club LLC, a wholly owned subsidiary of Simplex
Healthcare, for the mail order distribution of the SENSUS⢠Pain
Management System to Medicare patients. Diabetes Care Club is one
of the largest providers of mail-order diabetes supplies in the
United States. It is one of only 19 companies authorized by the
Centers for Medicare and Medicaid Services (CMS) to distribute
diabetes testing supplies to Medicare beneficiaries via
mail-order.
The SENSUS Pain Management System is a convenient and wearable
non-invasive electrical nerve stimulator that offers patients a
fast-acting, non-narcotic option for relief from chronic pain. The
device is lightweight and can be worn during the day while
remaining active, or at night while sleeping. It is specifically
designed for people with diabetes that suffer from chronic pain.
The most common cause of such pain is painful diabetic neuropathy
(PDN), which affects up to 5 million people in the U.S. alone.
"Our customer feedback indicates that diabetic nerve pain is
common in our patients, and that they have a strong interest in a
pain relief option such as SENSUS,â said Michael Iskra, Simplex
Healthcare Chief Executive Officer, âThis is an opportunity for
us to expand our product offerings to address a common complication
of diabetes in support of our patients and we look forward to
having success with SENSUS."
"Simplex Healthcare is an important business partner in our
strategy to develop widespread distribution for SENSUS through
multiple channels," said Shai N. Gozani M.D., Ph.D., NeuroMetrix
President and Chief Executive Officer. "Diabetes Care Club
represents a premier mail-order brand with a strong focus on
improving the health of people with diabetes. Their focus on
customer service and operations compliments our core strengths in
product innovation and clinical performance. People with painful
diabetic neuropathy will benefit from this partnership."
About Simplex Healthcare and Diabetes Care Club
Diabetes Care Club, a Simplex Healthcare brand, has grown to
become the third largest mail order supplier of diabetic testing
supplies for seniors. The company provides home delivery of medical
supplies for patients with diabetes and a social network that
offers help, support and information for people living with the
disease. For additional information, visit www.DiabetesCareClub.com
and www.SimplexHealthcare.com.
About NeuroMetrix
NeuroMetrix is a medical device company that develops and
markets home use and point-of-care devices for the treatment and
management of chronic pain and peripheral neuropathies. The Company
is presently focused on diabetic neuropathies, which affect over
50% of people with diabetes. If left untreated, diabetic
neuropathies trigger foot ulcers that may require amputation and
cause disabling chronic pain. The annual cost of diabetic
neuropathies has been estimated at $14
billion in the United States. The company markets
the SENSUS⢠Pain Management System for treating chronic pain,
focusing on physicians managing patients with painful diabetic
neuropathy. The company also markets the 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. For more
information, please visit http://www.neurometrix.com.
NeuroMetrix, Inc.Thomas T. Higgins, 781-314-2761SVP and Chief
Financial Officerneurometrix.ir@neurometrix.com
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