NeuroMetrix Announces Staff Cuts, Strategy Change

Xconomy Boston — 

NeuroMetrix, a Waltham, MA-based diagnostics and medical device company, announced today that it plans to focus its business around diabetes and the treatment of diabetic neuropathy, a complication of the disease. The company’s website says it developed products for diagnosing and treating peripheral nerve disorders and for providing regional anesthesia and pain control. NeuroMetrix is restructuring and eliminating 27 percent of its staff so that its neurodiagnostic business, which struggled due to changes in reimbursement, will “achieve a positive net cash contribution to the company.”

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