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WOBURN, Mass., Oct. 15, 2019 (GLOBE NEWSWIRE) -- 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.”
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.
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.
Thomas T. Higgins, 781-314-2761
SVP and Chief Financial Officer
Source: NeuroMetrix, Inc.