NeuroMetrix Enters Into Agreement with Simplex Healthcare for Distribution
of the SENSUS Pain Management System
WALTHAM, Mass. -- September 24, 2013
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,” said Michael Iskra, Simplex Healthcare Chief Executive Officer, “This
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.
NeuroMetrixis 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 billionintheUnited 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 visithttp://www.neurometrix.com.
Thomas T. Higgins, 781-314-2761
SVP and Chief Financial Officer
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