NeuroMetrix is a small medical device company focused on chronic pain and peripheral neuropathy, with two core products. Quell is a wearable neuromodulation device worn on the upper calf that delivers electrical nerve stimulation to relieve chronic pain, controlled via a smartphone app. Quell comes in an OTC version sold direct-to-consumer and a prescription version (Quell – Fibromyalgia) that is FDA-authorized as a non-pharmaceutical treatment for fibromyalgia and sold through an online pharmacy. DPNCheck is a handheld point-of-care device that measures nerve conduction velocity to detect and stage peripheral neuropathy, targeting primary care physicians, endocrinologists, and podiatrists. NeuroMetrix operates a razor-and-blades model: hardware devices generate upfront revenue, while replacement electrodes (Quell) and single-use biosensors (DPNCheck) drive recurring revenue. DPNCheck revenue is closely tied to reimbursement dynamics — CMS rule changes in 2023-2024 reduced the financial incentive for Medicare Advantage organizations to screen for neuropathy, which has materially reduced DPNCheck volumes. NeuroMetrix has been developing additional prescription Quell indications, including chemotherapy-induced peripheral neuropathy, using the same underlying platform. The company has agreed to be acquired by electroCore, with the merger approved by shareholders in March 2025 and closing expected in Q2 2025, effectively ending NeuroMetrix's life as an independent company.