ElectroCore to Acquire Neurometrix, Expanding Portfolio with Quell Wearable Technology

ElectroCore, Inc. (NASDAQ: ECOR), a leader in non-invasive therapies for neurological conditions, announced today that it has entered into an agreement to acquire Neurometrix, Inc., a company known for its innovative wearable therapeutic devices. The acquisition, which is expected to close in the first quarter of 2025, will significantly expand ElectroCore’s product offerings and position the company as a broader player in the neurotechnology space.

The acquisition will provide ElectroCore with exclusive access to Neurometrix's flagship Quell device, a wearable technology designed to manage chronic pain through peripheral nerve stimulation. The Quell device, which is FDA-cleared and clinically proven to provide relief for patients suffering from conditions such as fibromyalgia, osteoarthritis, and diabetic neuropathy, aligns well with ElectroCore’s existing portfolio of neuromodulation products.

Strengthening Position in Pain Management

The acquisition will also help ElectroCore leverage Neurometrix's established position in the consumer health market. Quell, which has gained popularity as a consumer-directed wearable for chronic pain management, is positioned to complement ElectroCore's existing non-invasive treatment offerings, which include its gammaCore devices used for the treatment of cluster headaches, migraines, and other neurological conditions.

"With the acquisition of Neurometrix, we are broadening our reach into the chronic pain management space and further strengthening our portfolio of non-invasive neuromodulation solutions," said Dan H. Goldberger, CEO of ElectroCore. "Quell has demonstrated a proven track record of efficacy and patient satisfaction, and we believe its integration into ElectroCore's suite of products will help us meet the growing demand for alternatives to traditional pain management therapies."

Expanding Consumer Access

Neurometrix’s Quell device has seen significant adoption in the consumer market, where it is marketed directly to patients who seek non-drug-based solutions for managing pain. The acquisition is expected to accelerate ElectroCore’s ability to expand its consumer reach while continuing to provide value for patients in need of effective, non-invasive treatments for chronic pain conditions.

Financial Terms and Strategic Vision

Under the terms of the deal, ElectroCore will acquire Neurometrix for a combination of cash and stock, with additional performance-based milestones. The acquisition strengthens ElectroCore’s strategic vision of becoming a leading provider of non-invasive neuromodulation therapies and extends the company's pipeline of products targeting neurological disorders.

The acquisition comes as part of ElectroCore's ongoing efforts to diversify its product lineup and provide innovative therapies across a broader range of medical conditions. The company anticipates that the acquisition of Neurometrix will contribute to its growth in both the clinical and consumer segments of the healthcare market.

About ElectroCore

ElectroCore is a global leader in the development and commercialization of non-invasive neurostimulation therapies for the treatment of a wide range of neurological conditions. The company’s flagship product, gammaCore, is FDA-cleared for the treatment of acute pain associated with cluster headaches and migraines, as well as for the prevention of chronic migraine. ElectroCore is committed to improving patient outcomes through innovative neuromodulation solutions.

About Neurometrix

Neurometrix, Inc. is a leading innovator in wearable medical technology designed to treat chronic pain and other neurological disorders. The company’s Quell device utilizes neurostimulation to manage pain, and its non-invasive approach has proven effective for a range of conditions, including chronic pain associated with conditions such as fibromyalgia and diabetic neuropathy.

You can read more about the wider therapeutic field related to fibromyalgia here on BioFocus.