electroCore, a Nasdaq-listed company specialising in bioelectronic technology, has completed the previously announced acquisition of NeuroMetrix (NURO).
The deal is said to position electroCore as a key player in the non-invasive health and wellness technology sector.
It includes NeuroMetrix’s Quell Fibromyalgia Solution, which expands electroCore’s portfolio of non-invasive therapies and enhances its commercial footprint, particularly within the Veterans Affairs Hospital System.
This transaction is expected to substantially increase electroCore’s addressable market in chronic pain and wellness treatments.
Under the terms of the merger agreement signed in December 2024, each share of NeuroMetrix common stock was converted to provide shareholders with a cash payment of $4.49 per share and one contingent value right (CVR).
The CVRs offer potential cash payments based on achieving specific sales milestones tied to the Quell business, as well as future proceeds from the sale of NeuroMetrix’s DPNCheck business, according to the CVR agreement dated 1 May 2025.
Following this merger, NeuroMetrix has become an indirect wholly-owned subsidiary of electroCore. As a result, NeuroMetrix’s shares have been delisted from the Nasdaq Capital Market.
Shareholders of NeuroMetrix will receive compensation equal to the firm’s net cash balance at the time of closing, subject to adjustments for expenses and liabilities. Approximately $9m is estimated for shareholder distribution after deductions and the final net cash balance will be determined at closing based on a set formula in the merger agreement.
NeuroMetrix is engaged in developing neurotechnology devices targeting unmet needs in chronic pain and diabetes management. The company’s products include wearable or handheld medical devices integrated with proprietary consumables and software solutions such as mobile applications and cloud systems.
It manages two main brands, which include Quell, a neuromodulation platform, and DPNCheck, a peripheral neuropathy screening test.
electroCore’s objective is to enhance health outcomes through innovative non-invasive bioelectronic technologies.
