Welcome to our dedicated page for Greenbrook TMS news (Ticker: GBNH), a resource for investors and traders seeking the latest updates and insights on Greenbrook TMS stock.
Greenbrook TMS Inc. (NASDAQ: GBNH) is a leading provider of Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray), offering FDA-cleared, non-invasive treatments for Major Depressive Disorder (MDD) and other mental health conditions in the United States. Operating through 130 Company-operated treatment centers, Greenbrook has delivered over 1.3 million treatments to more than 40,000 patients struggling with depression.
TMS therapy involves local electromagnetic stimulation of brain regions associated with mood regulation, while Spravato® is used to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD who have suicidal thoughts or actions. Both therapies are known for being non-invasive, non-sedative, and devoid of drug-related side effects.
As of recent developments, Greenbrook has secured additional financing, including multiple amendments to its credit facility with Madryn Asset Management, LP. The transactions, aimed at improving the company’s financial position, have increased its outstanding loans to approximately $87 million. These funds are expected to support Greenbrook’s general corporate needs, working capital, and debt service obligations.
Furthermore, Greenbrook has recently appointed Juliana Elstad to its board of directors. Ms. Elstad brings over two decades of experience in medical technology and leadership, which is anticipated to be an asset to the company's governance and strategic growth.
Despite facing financial challenges, including the need for additional liquidity and compliance with debt covenants, Greenbrook is actively pursuing various financing and restructuring options to sustain operations. The company remains committed to its mission of providing effective mental health treatments and supporting patients in their journey toward better mental health.
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