Business
Neuronetics and Greenbrook TMS Announce Six Year Exclusive Partnership
MALVERN, Pa. and TORONTO, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a commercial-stage medical technology company focused on
About this update from Neuronetics, Inc.
[{"type":"text","content":"MALVERN, Pa. and TORONTO, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a commercial-stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurological health disorders (“Neuronetics”), and Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH), a leading provider of transcranial magnetic stimulation (“TMS”) therapy (“Greenbrook”), today announced an expanded commercial partnership through year end 2028. Under the partnership agreement, Neuronetics will be the exclusive supplier of TMS equipment to Greenbrook. Over time, Neuronetics’ NeuroStar devices will replace competitive TMS devices at Greenbrook locations. The Companies will work jointly to grow through co-branding and co-marketing programs, enhanced patient and clinician awareness, improved patient access to care, and collaboration on product development and publications. The agreement also has minimum purchase commitments, and all treatment session purchases will convert to a “per-click” consumable model. “I'm happy to say we are expanding and deepening our long-term partnership with Greenbrook, the leading provider of TMS in the industry,” said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. “With this comprehensive exclusive agreement, Neuronetics and Greenbrook will be able expand upon our market leading positions and bring the benefits of NeuroStar Advanced Therapy to the many patients who are suffering from mental disorders.” “This agreement brings our two companies closer together as we jointly seek to provide relief to a growing number of patients,” said Bill Leonard, President and Chief Executive Officer of Greenbrook. “This expanded partnership will deliver several important synergies, including increased patient awareness and access to care, which we believe will ultimately allow us to materially advance the proliferation of TMS as a non-drug alternative for the treatment of mental disorders, including depression, anxiety, and obsessive-compulsive disorder.” About Neuronetics Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience and the largest TMS company in the industry, Neuronetics is redefining patient and physician expectations by designing and developing produ...