NeuroMetrix, Inc., a medical device company, announced on Tuesday that it is evaluating various strategic options to enhance the growth of its Quell neuromodulation and DPNCheck neurodiagnostic operations, while also increasing shareholder value.
The company is considering several possibilities including modifying its marketing strategies, acquisitions, possible sale of company assets, and mergers or other strategic transactions.
"We are also revisiting our DPNCheck operation in response to fundamental changes made last year to the Medicare Advantage risk adjustment by the Centers for Medicare & Medicaid Services (CMS)," stated Shai Gozani, the CEO of NeuroMetrix. Gozani added, "Our intention is to continue to manage our liquid assets effectively, optimize cash flows and exploit potential funding opportunities."
To help with this process, NeuroMetrix has engaged the services of financial advisory firm, Ladenburg Thalmann & Co.
On the stock front, Neurometrix's shares currently trade at $3.25 on the Nasdaq, a 3.70 percent fall.
