Helius Medical announces exploration of strategic alternatives

Helius Medical (HSDT) Technologies has initiated a process, in consultation with its financial and legal advisors, to explore a range of strategic alternatives focused on maximizing stockholder value. The deferral of a reimbursement payment determination for the PoNS Controller and inadequate PoNS Mouthpiece pricing issued by CMS in October has limited the Company’s ability to advance its operations and impeded its access to traditional financing avenues. Helius has engaged B. Riley Securities to act as a financial advisor in connection with the strategic review process. All potential strategic alternatives to maximize value, including an acquisition, merger, reverse merger, other business combination, sale of assets, licensing, and other strategic transactions, will be explored. No updates on the process are expected to be provided during the evaluation period unless and until the Board of Directors has concluded that disclosure is appropriate or required.