ElectroCore completed its previously announced acquisition of NeuroMetrix. In December 2024, Rockaway, New Jersey-based ElectroCore struck a deal to acquire NeuroMetrix and its neuromodulation platform. Quell, a solution for treating fibromyalgia and lower-extremity chronic pain, adds to ElectroCore’s portfolio of non-invasive bioelectronic therapies.
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ElectroCore expects the wearable, app- and cloud-enabled neuromodulation platform to strengthen its commercial reach. That especially rings true for the VA Hospital System, according to a news release. Altogether, the company expects to meaningfully increase its addressable market for chronic pain and wellness treatments with Quell.
Under the terms of the deal, each share of NURO common stock was converted into the right to receive a cash payment of $4.49 per share and one contingent value right (CVR). CVRs entitle holders to contingent cash payments based on the achievement of certain sales milestones tied to Quell. They also relate to future proceeds from the disposition of NeuroMetrix’s DPNCheck point-of-care screening test for peripheral neuropathy.
As a result of the merger, NeuroMetrix became an indirect, wholly-owned subsidiary of ElectroCore.
“With this transaction now closed, we are well-positioned to immediately leverage our established distribution channels, particularly within the VA Hospital System, to accelerate adoption of the Quell Fibromyalgia solution,” said Dan Goldberger, CEO of ElectroCore. “This addition meaningfully expands our addressable market and diversifies our portfolio of non-pharmaceutical, non-invasive nerve stimulation offerings, strengthening electroCore’s position as a leading publicly traded bioelectronic technology platform focused on wellness and chronic pain management.”
