NeuroMetrix Announces Physician Use of One Millionth NC-Stat Nerve Conduction Study Biosensor
Posted on: Thursday, 2 June 2005, 09:00 CDT
NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on the development and sale of proprietary products used to diagnose neuropathies, announced today that their broad base of physician customers have utilized one million nerve conduction study biosensors since the launch of the NC-stat(R) System. This major milestone shows the robust progression that the Company has made in establishing their innovative technology throughout the physician marketplace and advancing patient care.
"The one million biosensor milestone is a tremendous achievement for NeuroMetrix" said James W. Strickland, M.D., Clinical Professor of Orthopaedic Surgery at Indiana University School of Medicine, and past President of the American Society for Surgery of the Hand and of the American Academy of Orthopaedic Surgeons. "It serves as testimony to the clinical acceptance of this medical technology that is rapidly becoming a standard of care for the diagnosis and monitoring of peripheral nerve disorders."
Dr. Strickland continued, "NeuroMetrix diagnostic systems have provided physicians with the ability to quickly and accurately determine the status of many nerve and nerve related conditions within their offices at the time of initial patient care. As such, a highly reliable assessment of a clinical condition can be rendered immediately. In many cases, this limits the need for off site referral with the obligatory time loss, inconvenience and added expense for the patient. NC-stat represents a unique technological advance that has provided significant benefits to patients, physicians and health care in general. NeuroMetrix has truly improved the way medicine is practiced and is to be congratulated for this milestone."
The NC-stat System is used in over 2,400 physician practices throughout the United States and enables all physicians to effectively and objectively diagnose neuropathies, or diseases of the nerves. Nerve conduction studies performed with the NC-stat System provide crucial information that assists physicians in diagnosing, monitoring and managing common neuropathies caused by or associated with diabetes, low back conditions and other spinal disorders, carpal tunnel syndrome, and other diseases. Neuropathies affect over half of the 18 million people with diabetes in the U.S. Low back pain and related conditions are the second most common reason for seeing a physician. There are as many as 5 million people in the U.S. with carpal tunnel syndrome.
"We are very proud to have reached this important milestone in our Company's development," said Shai N. Gozani, M.D., Ph.D., NeuroMetrix President and CEO. "Achieving one million biosensors used with the NC-stat System confirms that the technology and approach are becoming a standard of care for the diagnosis and management of neuropathies by physicians. We also recognize the unique expertise of our neurophysiologist colleagues and look forward to working with them to further advance the science and clinical practice of nerve conduction studies with an objective of improving the quality and efficiency of patient care. We believe this milestone reflects both our present market position and also the opportunities for continued expansion of our business."
About NeuroMetrix
NeuroMetrix is a medical device company that is establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. The NC-stat System, the Company's neuropathy diagnostic system, has been on the market since May 1999 and is presently used in over 2,400 physician's offices, clinics and other health care facilities in the United States. The Company holds issued utility patents covering a number of important aspects of the NC-stat System.
Source: Business Wire
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