NeuroMetrix Enters into Agreement with Rehabilitation Management Group, Inc. and OsteoArthritis Cent
NeuroMetrix Enters into Agreement with Rehabilitation Management Group, Inc. and OsteoArthritis Centers of America to Make SENSUS Pain Management System Available in its Affiliated Clinics
WALTHAM, Mass.--(BUSINESS WIRE)-- NeuroMetrix, Inc. (NAS: NURO) , a medical device company focused on the treatment and management of chronic pain, today announced that it had entered into an agreement with OsteoArthritis Centers of America, a subsidiary of Rehabilitation Management Group (RMG) which is a national physician consulting company, to incorporate the SENSUS™ Pain Management System into its affiliated medical clinics.
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.
There are over 100 medical clinics throughout the US that operate as affiliates of RMG and the Osteoarthritis Centers of America. Accredited providers offer a variety of services to their patients including programs to relieve chronic pain, such as that due to painful diabetic neuropathy. A growing number of clinics offer RMG's proprietary Neuropathy Medical Program. As part of this agreement, SENSUS will be incorporated into the program as an option when medically indicated.
"There is a clear need for a non-pharmacological pain control option for patients with neuropathic pain. We have conducted an initial clinical evaluation of SENSUS and believe that it will have clinical benefit for patients coming to our affiliated clinics for management of their neuropathies," said Dr. Mark Lee, Director of Research and Development for RMG and OsteoArthritis Centers of America. "We are excited about offering SENSUS to our affiliated clinics because it is the first device given FDA clearance to be worn by patients while they sleep."
"We are delighted that medical clinics affiliated with RMG and the OsteoArthritis Centers of America will offer the SENSUS Pain Management System to their patients," said Shai N. Gozani M.D., Ph.D., NeuroMetrix President and Chief Executive Officer. "Moreover, through their sophisticated information systems they will have the ability to document clinical outcomes associated with use of SENSUS. This agreement is another important step in our strategy to develop widespread distribution for SENSUS through multiple channels."
About OsteoArthritis Centers of America
RMG and the OsteoArthritis Centers of America have created outcomes driven clinical programs focused on non-surgical, FDA approved treatments for chronic pain in knees, hips, shoulders, and back, peripheral neuropathies, and other conditions. The company was founded in 1998, in order to develop clinical services and education programs for medical practices which can be replicated and measured. RMG has recently published a peer reviewed pragmatic outcomes paper analyzing the results of the company's proprietary OsteoArthritis knee program. The company plans to perform similar analysis and publication of clinical efficacy data for NeuroMetrix, once enough SENSUS information has been gathered. For more information, please visit www.oacenters.com.
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, peripheral neuropathies, and associated neurological disorders. 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.
Thomas T. Higgins, 781-314-2761
SVP and Chief Financial Officer
KEYWORDS: United States North America Massachusetts
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