NeuroMetrix Announces Updates to Quell 2.0 Commercial Strategy
October 15 2019 - 11:00AM
NeuroMetrix, Inc. (Nasdaq:NURO), a health technology company that
develops and commercializes products for the chronic pain and
diabetes markets, today announced important updates to its
Quell® 2.0 commercial strategy. This novel wearable device
for the symptomatic relief of chronic pain is central to the
Company’s vision of helping people reclaim their lives from chronic
pain through neuroscience and technology.
The Company is shifting to an exclusively direct-to-consumer
model delivered via the QuellRelief.com website, that will allow it
to offer the innovative Quell 2.0 system at accessible price
points. This streamlined distribution model will allow more
people with chronic pain to benefit from the advanced Quell pain
relief technology. The new approach will also open the door
for more people to take advantage of electrode savings through a
subscription service.
This new business model is an outcome of extensive consumer
research and in-market validation that started earlier this
year. The Company expects to see improved economics through
reduced customer acquisition costs, distribution channel savings,
and higher retention rates, resulting in increased customer
lifetime value.
“Our vision is a world where people can live their best life
despite chronic pain,” said Shai N. Gozani M.D., Ph.D., President,
and Chief Executive Officer, NeuroMetrix. “To achieve this
goal, we believe that everyone living with chronic pain should have
the opportunity to experience Quell and determine if it is
beneficial to their particular form of chronic pain.
Therefore, we have worked over the past several quarters to refine
our business model and distribution system to position us to
deliver Quell 2.0 at widely attainable price points.”
About Quell
Quell is an advanced, wearable technology for the symptomatic
relief and management of chronic pain. It can be worn during the
day while active and at night while sleeping. Quell is drug-free.
Quell users can personalize and manage therapy discreetly via
the Quell app. Quell also offers health tracking metrics
relevant to chronic pain sufferers, including pain, sleep,
activity, and gait. Quell users can synchronize their data with the
Quell Health Cloud™, which provides customized feedback and powers
one of the world’s largest chronic pain databases. Visit
QuellRelief.com for more information.
About NeuroMetrix
NeuroMetrix is an innovation-driven healthcare company combining
neurostimulation and digital medicine. The company markets Quell®,
an over-the-counter wearable device for the symptomatic relief of
chronic pain. The company also markets DPNCheck®, a point-of-care
test for diabetic neuropathy, which is the most common long-term
complication of Type 2 diabetes. For more information, please visit
NeuroMetrix.com.
NeuroMetrix, Inc.Thomas T. Higgins, 781-314-2761SVP and Chief
Financial Officerneurometrix.ir@neurometrix.com
Source: NeuroMetrix, Inc.
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