Neuronetics (Nasdaq:STIM) announced today that it entered into a commercial partnership with Alleviant Health Centers.
Under the agreement, Malvern, Pennsylvania-based Neuronetics will be the exclusive supplier of new transcranial magnetic stimulation (TMS) equipment to Alleviant and its clinics.
According to a news release, an initial six NeuroStar advanced therapy systems — Neuronetics’ non-drug, non-invasive treatment that can improve the quality of life for people suffering from neuro health conditions when traditional medication hasn’t helped — have been delivered in 2022.
“We are delighted to partner with Alleviant to provide more people who need it with access to NeuroStar as a new possibility for non-drug depression treatment,” Neuronetics President and CEO Keith J. Sullivan said in the release. “Alleviant’s commitment to offering innovative solutions and their focus on making the world a better place by improving the lives of others makes this an ideal match for us.”
NeuroStar uses TMS to target key areas of the brain that are underactive in people with major depressive disorder (MDD). Last week, Neuronetics received FDA clearance for the platform to treat anxiety symptoms for adult patients who suffer from MDD, also known as anxious depression.
More than 4.5 million NeuroStar treatments have been delivered to over 127,000 patients to date, the company said. Patients achieved a high response rate of 83% and a remission rate of 62%.
“I care so much about people who are suffering, and I believe it is my responsibility to share proven clinical solutions and knowledge to everyone burdened with conditions we know how to treat,” Alleviant founder, President and CEO Brian Mears said. “We were using a different TMS device and decided to partner with Neuronetics because the support they provide for our clinics and the tremendous treatment outcomes with NeuroStar TMS will enable us to continue to grow our TMS service line and strengthen the patient-centric care that is so important to healing.”