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ROCKAWAY, N.J. - electroCore, Inc. (NASDAQ:ECOR), a bioelectronic technology company with a market capitalization of $54.45 million and impressive revenue growth of 57% over the last twelve months, has completed its merger with NeuroMetrix, Inc. (NASDAQ:NURO), a move that broadens its product offerings in the non-invasive treatment of chronic pain and wellness conditions. According to InvestingPro analysis, the company maintains a strong balance sheet with more cash than debt, positioning it well for this strategic expansion. The merger, which was finalized today, positions electroCore as a diversified leader in health and wellness solutions, particularly within the VA Hospital System.
The acquisition introduces the Quell Fibromyalgia Solution to electroCore’s portfolio, which is expected to significantly expand the company’s market reach. With an industry-leading gross profit margin of 84.97%, electroCore demonstrates strong operational efficiency. CEO Dan Goldberger expressed confidence that the merger will immediately strengthen the company’s distribution capabilities and enhance its product suite focused on non-pharmaceutical, non-invasive nerve stimulation therapies. InvestingPro analysis indicates the stock is currently trading below its Fair Value, suggesting potential upside opportunity for investors.
The terms of the merger agreement, dated December 17, 2024, and approved by NeuroMetrix stockholders on March 21, 2025, stipulated that each share of NURO common stock would be converted into a right to receive a cash payment and a contingent value right (CVR). These CVRs entitle holders to contingent cash payments based on the success of the Quell business and future proceeds from the sale of NURO’s DPNCheck business, as per the CVR agreement dated May 1, 2025.
Following the merger, NeuroMetrix has become an indirect wholly-owned subsidiary of electroCore, and trading of NURO shares on the Nasdaq Capital Market will cease prior to market opening today.
This transaction is detailed in a Current Report on Form 8-K filed by electroCore with the SEC. The company, known for its commitment to improving health through non-invasive bioelectronic technologies, anticipates that this merger will enhance its ability to address chronic pain management and wellness. For deeper insights into electroCore’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
Investors are cautioned that this press release contains forward-looking statements, including expectations about the benefits of the merger and the company’s future prospects. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. The company does not undertake any obligation to update forward-looking statements except as required by law. This article is based on a press release statement.
In other recent news, electroCore, Inc. reported a notable 57% year-over-year revenue increase for 2024, reaching $25.2 million, with a strong gross margin of 85%. The company has secured a new Federal Supply Schedule contract with the Veterans Affairs (VA) FSS Service, effective from June 2025 to June 2030, amidst a VA audit that led to the termination of numerous contracts. electroCore’s gammaCore device is now purchased by 170 VA facilities, up from 147 in 2023, with VA/Department of Defense channel sales driving $17.8 million of 2024 revenue, an 85% increase from the previous year. H.C. Wainwright maintained a Buy rating on electroCore, with a $25 price target, citing strategic partnerships as a potential offset for uncertainties in VA/DoD channel sales. The company also appointed CBIZ CPAs as its new independent accounting firm following Marcum LLP’s resignation due to a business acquisition. Additionally, electroCore recently launched the Truvega wellness product line and acquired NeuroMetrix, aiming to expand its presence in the chronic pain and wellness markets. These developments reflect electroCore’s ongoing efforts to enhance its financial performance and strategic market position.
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