NeuroMetrix, a Waltham, Mass.-based medical-device company specializing in nervous-system and neurovascular products, has completed its acquisition of the assets of EyeTel Imaging, according a news release issued by NeuroMetrix. NeuroMetrix paid EyeTel shareholders a total of $9.9 million in NeuroMetrix shares of common stock plus $175,000 in cash to purchase the business.
Under the acquisition agreement, NeuroMetrix will obtain exclusive rights to EyeTels licensing agreement with Johns Hopkins University for DigiScope, a diagnostic device used for early detection of diabetic retinopathy and other eye diseases. DigiScope was developed at Johns Hopkins Wilmer Eye Institute. The deal will grant NeuroMetrix exclusive rights to market the device to physicians, optometrists and other specialty markets. -- by Shawn Rhea