The Waltham-based nerve testing equipment maker is restructuring its U.S. sales operation into three divisions and saying goodbye to former VP of diagnostics device sales Monty Hukill.
The news follows the settlement of federal charges that NeuroMetrix gave physicians electrodes and other consumables as bribes for promoting its NC-stat System to other doctors. The agreement with the Justice and Health & Human Services departments cost the company $3.7 million in fines.
NeuroMetrix also recently posted a nearly $30 million net loss for 2008, down from about $9 million in net losses during the prior year.
The sales restructuring creates three new segments — neurology, neurointerventional, and physician office — and is aimed at better targeting markets for the company’s suite of products.
Its Advance NCS/EMG system will be sold into the neurology and physical medicine and rehabilitation channels and into the neurointerventional channel, which includes neurosurgeons, orthopedic surgeons, pain medicine physicians, and anesthesiologists. NeuroMetrix’s Ascend nerve localization system and its recently acquired Andara oscillating field stimulator for acute spinal chord injury treatment will also be sold into this channel.
The physician office channel, made up of primary care and internal medicine physicians, endocrinologists, rheumatologists and occupational medicine physicians. The Company will market the NC-stat System into this channel.
The company said it may add to the 35 sales reps currently on its roster as it seeks a replacement for Hukill.