NeuroMetrix to Partner with Omron Healthcare for Distribution of NC-stat DPNCheck in Japan
WALTHAM, Mass.--(BUSINESS WIRE)--Apr 24, 2013--NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on the treatment of diabetic peripheral neuropathy (DPN), announced that it had entered into an agreement with Omron Healthcare Co., Ltd. to be the exclusive distributor for NC-stat ® DPNCheck ® in Japan. NC-stat DPNCheck is a rapid, accurate and quantitative point-of-care test to detect diabetic peripheral neuropathy at an early stage allowing physicians to select appropriate treatment. DPN is the most common complication of diabetes, affecting over half of people with diabetes. DPN causes significant morbidity including pain, increased risk of falling in the elderly, and is the primary trigger for diabetic foot ulcers, which may require lower extremity amputations.
According to 2012 International Diabetes Federation (IDF) estimates, diabetes affects over seven million people in Japan, making Japan one of the top ten countries globally in terms of prevalence of the disease, and second among developed nations after the United States. Treatment outcomes for diabetes and its complications continue to be a primary focus of both the Ministry of Health, Labor and Welfare (MHLW) as well as the medical community within Japan. A global leader in research and clinical practice in both diabetes and DPN, Japan continues to seek improved outcomes for patients. Japan is also the only market globally where Kinedak (epalrestat), a pharmaceutical specifically for the treatment of DPN, is available.
Omron Healthcare is a leading manufacturer and distributor of wellness products. Omron’s market-leading products include home blood pressure monitors, fitness tools, such as pedometers and heart rate monitors, and electrotherapy devices. It provides devices and services focused on lifestyle diseases such as hypertension, diabetes and other chronic diseases. Omron Healthcare has an installed base of over 10,000 vascular screening devices (VP-1000 plus) in Japan. The VP-1000 plus measures the blood flow in the peripheral arteries, which is often a concern among patients with DPN. Omron’s products are synergistic with NC-stat DPNCheck. Its distribution channel includes a strong direct sales force and local distributor network. Omron Healthcare is well positioned to launch the NC-stat DPNCheck in Japan and provide medical professionals focused on diabetes the tools they need to screen and diagnose DPN.
“We are pleased to be able to provide our customers with an innovative and proven technology in the NC-stat DPNCheck” said Isao Ogino, Director and Senior Managing Officer of Omron Healthcare. “There is a strong synergy between the VP-1000 plus and NC-stat DPNCheck from both a clinical and operational viewpoint. Our partnership with NeuroMetrix allows us to once again provide access to innovative and proven medical care that is meaningful to patients.” "Omron’s long history of innovation and results in Japan make them the obvious choice for a partner as we seek to enter this important market” said Shai N. Gozani M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. “The presence of locally available pharmaceutical treatments for DPN which compliment the diagnostic capability of NC-stat DPNCheck make Japan a unique market opportunity for us and Omron.” Orient Strategy K.K., a consulting firm based in Japan, facilitated this partnership between NeuroMetrix and Omron Healthcare.
About Omron Healthcare Co., Ltd.
Omron Healthcare, headquartered in Kyoto, is a global leader in health care monitoring. The company offers a wide range of devices and services that help prevent and manage lifestyle diseases such as blood pressure monitors, body composition monitors and activity counters as well as medical devices such as vascular screening devices and visceral fat monitors in more than 100 countries. For more information on Omron Healthcare, visit www.healthcare.omron.co.jp/english/ About NeuroMetrix NeuroMetrix is a medical device company that develops and markets home use and point-of-care devices for the treatment of diabetic neuropathies, which affect over 50% of people with diabetes. If left untreated, diabetic neuropathies trigger foot ulcers that may require amputation and cause disabling chronic pain. The annual cost of diabetic neuropathies has been estimated at $14 billion in the United States. The company markets the SENSUS™ Pain Management System for treating chronic pain, focusing on physicians managing patients with painful diabetic neuropathy and similar peripheral neuropathies. The company also markets the NC-stat ® DPNCheck ® device, which is a rapid, accurate, and quantitative point-of-care test for diabetic neuropathy. This product is used to detect diabetic neuropathy at an early stage and to guide treatment. For more information, please visit http://www.neurometrix.com.