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Stimwave Technologies

Pompano Beach, Florida, United States

Ownership: Private
Development stage: Other

Overview

Stimwave developed wireless, implantable neurostimulation devices for chronic pain management. The company received FDA clearance for its StimQ PNS system in 2016 and Freedom SCS system. However, the company engaged in healthcare fraud from 2017-2020 by selling a dummy plastic component (white stylet) misrepresented as a functional receiver, leading to fraudulent Medicare billing. The fraud was exposed, resulting in device recall in July 2020, CEO Laura Perryman's resignation in November 2019, and eventual bankruptcy filing in June 2022.

Therapeutic areas: Neurology
Modalities: Device
Industry: Therapeutic Medical Devices

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