Neuronetics Named 2017 Health Care Innovator by Philadelphia Business Journal
Recognized for company’s breakthrough non-drug depression treatment, NeuroStar® Advanced Therapy
Malvern, Pa., October 9, 2017 – Neuronetics, Inc., a privately held medical device company widely recognized as the market-leader in transcranial magnetic stimulation (TMS) with its NeuroStar Advanced Therapy for depression, has been named a Health Care Innovator by the Philadelphia Business Journal. The award honors the organizations, people, products and programs bringing innovation to advance the health care and medical industries in the Greater Philadelphia region.
“It is our mission to transform lives and meet the needs of the 300 million people worldwide living with depression,” said Chris Thatcher, President and CEO of Neuronetics, Inc. “It is a tremendous honor to be recognized for the advancements we have made with our innovative NeuroStar therapy, and we will continue to change the face of depression treatment — helping patients transform their lives and achieve remission from depression.”
With more than 1.5 million treatments delivered to date worldwide, NeuroStar Advanced Therapy was cleared by the FDA in 2008 as a safe and effective treatment for adult patients with Major Depressive Disorder who have not seen success with at least one antidepressant medication. The non-drug, non-invasive treatment uses magnetic pulses to stimulate areas of the brain that are underactive in depression.
Earlier this year, NeuroStar Advanced Therapy announced its next generation system as the first FDA-cleared transcranial magnetic stimulation treatment that can be delivered in under 19 minutes.* In addition to the updated treatment time and improvements in patient access with widespread insurance coverage, the new NeuroStar Advanced Therapy offers several unique and innovative capabilities compared to generic TMS devices, including High Performance Coil, 3D Laser Positioning, Contact Sensing and TrakStar™ Cloud. These advanced technology features provide physicians with real-time feedback and deliver reliable and consistent treatment. The next generation system helps health care providers deliver enhanced customer-centric care, allowing doctors to prescribe the right treatment dose and deliver it at the right location every time to ensure patients are given their best chance at remission from depression.
Because of its continued success and innovation in the industry, Neuronetics closed on a $15 million Series G funding round from investors earlier this year to broaden its U.S. commercial operations, expand patient access and fund additional clinical trials for the treatment of psychiatric disorders.
To see the complete 2017 Health Care Innovators Award Honorees list, visit the Philadelphia Business Journal’s award page. For more information about NeuroStar Advanced Therapy, visit www.NeuroStar.com.
About Neuronetics, Inc.
Neuronetics, Inc. is a privately held medical device company focused on developing non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. Based in Malvern, PA, Neuronetics, Inc. is the leader in transcranial magnetic stimulation (TMS) with its development of NeuroStar® Advanced Therapy, a noninvasive form of neuromodulation. For more information, please visit www.neurostar.com.
NeuroStar® is a registered trademark of Neuronetics, Inc.
About NeuroStar® Advanced Therapy
NeuroStar® Advanced Therapy is the established leader in transcranial magnetic stimulation (TMS), a non-invasive form of neuromodulation. NeuroStar Advanced Therapy is the #1 physician-preferred TMS treatment for patients with MDD, and there are over 800 NeuroStar systems in 49 states.
With over 300 million covered lives, NeuroStar is widely reimbursed by most commercial and government health plans, including Medicare and Tricare. In addition, there are programs in place, such as NeuroStar Reimbursement Support, to help patients and providers obtain coverage and reimbursement for NeuroStar Advanced Therapy.
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. In an NIMH-funded, independent, randomized controlled trial, patients treated with TMS using a clinical-trial version of the NeuroStar System were four times more likely to achieve remission compared to patients receiving sham treatment (P = 0.0173; odds ratio = 4.05).1 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. Long term durability of effect has not been established in a randomized controlled trial.
For more information and full safety and prescribing information, visit www.neurostar.com.
1 George MS, et al. Arch Gen Psychiatry, (2010)
*Treatment times dependent on doctor’s recommendation.