electroCore (NASDAQ:ECOR) announced it has completed the merger with NeuroMetrix (NASDAQ:NURO), expanding its portfolio to include Quell Fibromyalgia Solution, strengthening its commercial reach, and positioning the company as a diversified leader in non-invasive health and wellness solutions.
According to electroCore, the acquisition is expected to meaningfully increase its addressable market for the treatment of chronic pain and wellness conditions. As a result of the merger, NeuroMetrix became an indirect wholly owned subsidiary of electroCore, with NURO’s shares de-listed from the Nasdaq Capital Market prior to the opening of trading today.
Under the terms of the agreement, dated December 17, 2024 and approved by NeuroMetrix’s stockholders at a special meeting held on March 21, 2025:
- Each share of NURO common stock, outstanding immediately prior to the closing was converted into the right to receive (i) a cash payment of $4.49 per share and (ii) one contingent value right (CVR).
- The CVRs entitle holders to contingent cash payments based on the achievement of certain sales milestones tied to the Quell business as well as future proceeds from the disposition of NURO’s DPNCheck business, subject to the terms outlined in the CVR agreement dated May 1, 2025.
Dan Goldberger, CEO of electroCore, commented, “With this transaction now closed, we are well-positioned to immediately leverage our established distribution channels, particularly within the VA Hospital System, to accelerate adoption of the Quell Fibromyalgia solution. This addition meaningfully expands our addressable market and diversifies our portfolio of non-pharmaceutical, non-invasive nerve stimulation offerings, strengthening electroCore’s position as a leading publicly traded bioelectronics technology platform focused on wellness and chronic pain management.”
