67 WALL STREET, New York - March 15, 2013 - The Wall Street Transcript has just published its Medical Devices Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Orthopedics and Cardiovascular Medical Devices - Medical Device Innovation and Consolidation Trends - Cardiac - Health Care - Affordable Care Act
Companies include: NeuroMetrix Inc. (NURO) and many more.
In the following excerpt from the Medical Devices Report, the President, CEO and Director of NeuroMetrix, Inc. (NURO) discusses company strategy and the outlook for this vital industry.
TWST: Dr. Gozani, we last spoke a year ago. What's gone on over the past year at NeuroMetrix that investors should focus on today?
Dr. Gozani: Thank you for taking the opportunity, and it's been a very good year for us. When we spoke last year at this time, we were just at the early stages of launching our diabetes-focused business, which meant the development and commercialization of a series of products aimed at the diagnosis and treatment of diabetic neuropathy, which are the nerve-related complications of diabetes.
At this time last year we had one quarter of commercial experience behind us in the launch of our first product, which is called NC-stat DPNCheck. This is a point-of-care test for diabetic neuropathy, or the nerve complications of diabetes. We sit here today with a year's commercial experience NC-stat DPNCheck and, as of January this year, we launched our first therapeutic product, which is called SENSUS.
It is a pain-management device addressing chronic intractable pain such as that which often accompanies DPN. So it's been a very positive year, and the business has moved forward. We generated about $1.5 million in revenue from the diabetes business alone in 2012 in comparison with next to nothing the prior year. We feel we are on a good trajectory.
TWST: How much traction has the NC-stat DPNCheck gained in the marketplace?
Dr. Gozani: Great question. We targeted having about 1,000 devices in the marketplace by the end of 2012, and we just undershot that by a bit, achieving about 950, so there is good traction. One of the things that we really focused on during the course of the year was market assessment. We tested multiple market segments for this product, including selling...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.