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Neuronetics Recognized as 2020 Top Neurology Device Provider

Company acknowledged on Top 10 List by MedTech Outlook Magazine

MALVERN, Pa., March 30, 2020 (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 psychiatric disorders, today announced it has been named a Top 10 Neurology Device Provider in 2020 by MedTech Outlook Magazine.

“The country’s COVID-19 crisis emphasizes how important it is, now more than ever, that we strive to improve the quality of life for those suffering from mental health conditions. We are honored to receive this recognition from such a reputable publication as it reflects the dedication, ambition and compassion we pour into our work every day,” said Dan Guthrie, Chief Commercial Officer of Neuronetics, Inc. “We hope this recognition will help to further increase awareness of NeuroStar as safe, non-drug treatment option that may help some of the millions of adults in the U.S. who are suffering from depression.”

Neuronetics was named to this listing by a distinguished selection panel — comprised of chief medical officers, medical directors, department heads, and the editorial board of MedTech Outlook — and joins an impressive group of companies that provide innovative, transformative technologies and devices.

Since receiving FDA clearance in 2008 to treat Major Depressive Disorder (MDD) in adult patients, Neuronetics’ commercial product, a transcranial magnetic stimulation (TMS) device called NeuroStar® Advanced Therapy, has delivered over 2.8 million treatments to patients suffering from depression and is the number one TMS choice of doctors. The non-drug, non-invasive treatment uses magnetic pulses to stimulate areas of the brain that are underactive in depression.1,2 In an open-label clinical trial, 58 percent of patients responded to treatment and 37 percent experienced complete remission from depression.3 Treatment sessions can be performed in as little as 19 minutes* and it is covered by most major insurance providers, making it available and accessible to a growing patient population.

In addition to making MedTech Outlook’s listing as a top device provider, Neuronetics continues to drive important change in the industry by transforming the neurohealth space through global expansion and setting the stage for future treatment indications. 

To see the complete list of the Top 10 Neurology Device Providers of 2020, visit MedTech Outlook here. For more information about Neuronetics, visit www.neuronetics.com.  

About Neuronetics
Neuronetics, Inc. (or the “Company”) is a commercial-stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. Its first commercial product is a transcranial magnetic stimulation (TMS) device called the NeuroStar® Advanced Therapy System. Additional information can be found at www.neuronetics.com.

About NeuroStar® Advanced Therapy
NeuroStar® Advanced Therapy is the market leader in transcranial magnetic stimulation (TMS), a non-invasive form of neuromodulation, and the #1 TMS choice of doctors for patients with Major Depressive Disorder (MDD). Widely available across the United States, NeuroStar is reimbursed by most commercial and government health plans, including Medicare and Tricare.

In the U.S., NeuroStar is indicated for the treatment of MDD in adult patients who have failed to receive satisfactory improvement from prior antidepressant medication in the current episode. NeuroStar is also available in other parts of the world, including Japan, where it is listed under Japan's national health insurance.

In an NIMH-funded, independent, randomized controlled trial, patients treated with TMS using a clinical-trial version of the NeuroStar TMS System were 4.2 times more likely to achieve remission compared to patients receiving sham treatment (P = 0.02; odds ratio = 4.05).4 The most common side effect is pain or discomfort at or near the treatment site, which usually resolves within one week. It is contraindicated in people with non-removable conductive metal in or near the head.

NeuroStar® is a registered trademark of Neuronetics, Inc. (NASDAQ:STIM). For more information and full safety and prescribing information, visit www.neurostar.com.

Media Contact:
Meagan Dominick
Vault Communications
610-455-2779
mdominick@vaultcommunications.com

1 Post A, et al. (2001), J Psychiatric Research
2 Liston C, et al. (2014), Biol Psychiatry
3 Carpenter LL, et al. (2012), Depress Anxiety
*Treatment time may vary depending on doctor's recommendation.
4George MS, et al. Arch Gen Psychiatry, (2010)

 

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Source: Neuronetics