- Neuronetics, Inc. ( NASDAQ: STIM ) and Canada-based mental care provider Greenbrook TMS ( NASDAQ: GBNH ) announced a six-year deal on Thursday to use the U.S. company's FDA-cleared depression and OCD therapy transcranial magnetic stimulation ("TMS") system at Greenbrook locations.
- Under the partnership, Neuronetics will be the exclusive supplier of TMS equipment to Greenbrook, which will replace rival devices at its mental care network over the period.
- The agreement, which runs until the end of 2028, includes minimum purchase commitments, and there will be a "per-click" model for all treatment sessions, the companies said.
- "I'm happy to say we are expanding and deepening our long-term partnership with Greenbrook, the leading provider of TMS in the industry," Chief Executive of Neuronetics ( STIM ) Keith J. Sullivan noted.
- Read: The highly prevalent major depressive disorder generates demand for Neuronetics' ( STIM ) TMS treatment NeuroStar Advanced Therapy System, Seeking Alpha contributor David Zanoni wrote in November.
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Neuronetics and Greenbrook ink six-year deal for depression treatment