Neuronetics inks deal with Alleviant to supply NeuroStar to mental health clinics

[Image from Neuronetics]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 im…

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Alleviant Medical completes $6.5m offering

Congestive heart failure treatment developer Alleviant Medical filed an SEC Form D to confirm the sale of $6.5 million in an equity offering.

The Austin, Texas-based company reached its total offering amount of $6.5 million after making the first sale in the new notice on May 1. It had no intention of letting the offering last longer than one year and did not make it in connection with a business transaction.

With no minimum investment required for the equity offering, a total of 18 investors contributed to the sale, which did not have an issuer size disclosed.

Alleviant Medical did not provide an intended use of proceeds. However, the company is potentially using it to fund the development of its minimally invasive device for treating congestive heart failure.

The company’s device is designed to relieve pressure within the left atrium, according to its website, using an inter arterial shunt between the left and right atrium. The shunt is intended…

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