Stimwave to Sell Its Business

Stimwave, a company that produces peripheral neurostimulation (PNS) devices for chronic pain relief, has reached an agreement to sell its business to Kennedy Lewis Management LP.
 
The company has been restructuring its team and business operations since 2020. Stimwave received an up to $40 million commitment from Kennedy Lewis in debtor-in-possession financing.
 
The funds will allow Stimwave to operate its business without interruption and continue to expand.
 
“We are excited about the continued growth we have experienced over the last two years, during a challenging time,” Stimwave CEO Aure Bruneau told the press. “We are grateful for our customers’ partnership and the positive impact our therapy provides for their patients. The sale process we are undertaking will have an efficient and prompt exit, while we maintain our day-to-day commitment to meet our customers’ and patients’ support needs with the high standards of quality they expect from us.”
 
Stimwave filed for Chapter 11 bankruptcy protection to facilitate the sale and financing.
 
The proposed sale will be supervised by the court and is subject to potential receipt of higher or better offers to purchase the company. Stimwave expects that the sale will close within the next 90-120 days.