- Penetration of the managed care market was initiated with a substantial order from WellMed Medical Group of San Antonio, TX. WellMed provides care to approximately 100,000 Medicare Advantage patients and plans to regularly evaluate its patient population for peripheral neuropathies such as DPN. During the second quarter NC-stat DPNCheck devices and consumables were delivered to WellMed, training was completed and product use has started. Managed care represents the most compelling near term market opportunity for NC-stat DPNCheck.
- Retail health is an important market where the Company is building a presence. During the second quarter, the Company filled a large order from Wal-Mart Canada Corp. and Wal-Mart began to offer foot examinations, with NC-stat DPNCheck as a key component, at its Canadian pharmacies that have a diabetes focus.
- The strategically important endocrinology and podiatry markets continued to show progress in NC-stat DPNCheck device placements at the pace seen in preceding quarters.
- The installed base of NC-stat DPNCheck devices reached 500 in May and now stands at 590. The Company is at a pace to achieve its goal of 1,000 devices in the market by year end.
- Commercial launch of SENSUS remains on track for the fourth quarter. The Company filed a 510(k) submission with the FDA in April 2012 and subsequent requests for additional information have been promptly addressed by the Company. The Company filed a second 510(k) submission in June 2012 for the Company’s proprietary SENSUS electrode. This single-patient electrode will provide 1-2 weeks of use and represents a recurring revenue stream from use of the SENSUS product.
- The recent American Diabetes Association (ADA) meeting provided an opportunity for the Company to discuss its products and pipeline with leaders in the diabetes community.
NeuroMetrix Reports Q2 2012 Results
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