- electroCore completes acquisition of NeuroMetrix, integrating Quell Fibromyalgia Solution platform.
- NURO shareholders receive $4.49 per share and contingent value rights (CVR).
- NeuroMetrix becomes a wholly-owned subsidiary, and NURO shares are delisted from Nasdaq on May 2, 2025.
electroCore, Inc. (ECOR, Financial), a leader in bioelectronic technologies, has successfully completed the acquisition of NeuroMetrix, Inc. (NURO), obtaining its Quell® Fibromyalgia Solution platform. This acquisition significantly enhances electroCore’s offerings in non-invasive therapies, focusing on markets for chronic pain and general wellness.
Under the merger agreement, shareholders of NeuroMetrix are awarded $4.49 per share in cash along with one contingent value right (CVR). The CVR entitles holders to future payments linked to the Quell business's sales milestones and the proceeds from the disposition of the DPNCheck business. As part of this strategic move, NeuroMetrix becomes a wholly-owned subsidiary of electroCore, and NURO shares are officially delisted from the Nasdaq Capital Market as of May 2, 2025.
electroCore plans to capitalize on its established distribution networks, particularly within the VA Hospital System, to expedite the adoption of the Quell Fibromyalgia solution. This acquisition not only expands electroCore's portfolio but also positions the company as a leading entity in non-pharmaceutical, non-invasive nerve stimulation, broadening its addressable market in the chronic pain and wellness sectors.
