NEWTOWN, PA — Helius Medical Technologies, Inc. (Nasdaq: HSDT) has announced it is exploring various strategic options to maximize stockholder value. This decision comes in the wake of financial challenges stemming from the Centers for Medicare & Medicaid Services’ (CMS) recent deferral of a reimbursement payment determination for Helius’s PoNS Controller, as well as inadequate pricing for the PoNS Mouthpiece.
The company has engaged B. Riley Securities as a financial advisor to guide this strategic review process. The exploration will include a wide array of potential actions such as an acquisition, merger, reverse merger, asset sale, licensing, and other business combinations.
Helius’s move to consider these strategic alternatives is driven by limited access to traditional financing, impacting its ability to advance operations. The company intends not to provide updates on the strategic review unless a decision necessitates disclosure or is deemed appropriate by the Board of Directors.
As Helius navigates this period, the focus remains on finding the best course of action to enhance stockholder value and ensure the company’s future viability.
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