Neuronetics and Zion Healing Announce First Franchise Model for TMS Clinics

Rhea-AI Summary

Neuronetics (NASDAQ: STIM) has partnered with Zion Healing to become the exclusive supplier of TMS equipment for Zion's mental health clinics. This agreement aims to enhance patient access to NeuroStar® Advanced Therapy, a non-invasive treatment for depression. Robert Beatty, CEO of Zion Healing, emphasized the urgent need for mental health services, while Neuronetics' President, Keith J. Sullivan, highlighted the partnership's potential to expand treatment availability. NeuroStar has delivered over 4 million treatments, demonstrating its efficacy in adult patients with major depressive disorder.

Positive

• Exclusive supply agreement with Zion Healing enhances market reach.
• NeuroStar has delivered over 4 million treatments, showcasing its efficacy.
• Partnership aims to increase patient access to TMS therapy in mental health clinics.

Negative

• None.

Industry-changing partnership will increase patient access to NeuroStar® Advanced Therapy for Mental Health

MALVERN, Pa. and ST. GEORGE, Utah, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a commercial-stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, and Zion Healing, Inc., a leading franchisor of Behavioral Health services and Transcranial Magnetic Stimulation (TMS), announced today a new agreement under which Neuronetics will be the exclusive supplier of TMS equipment to Zion Healing, Inc. and its franchisees. Zion Healing, Inc. is one of the first and only companies to offer a scalable model for franchising of Mental and Behavioral Health Clinics.  

“We cannot open clinics fast enough to meet the needs of this growing market,” said Robert Beatty, CEO of Zion Healing, Inc. “The level of support and training that NeuroStar brings to our franchise model goes well beyond any expectation that we have for an industry partner. The Neuronetics team is simply the best in the industry when it comes to supporting our team and our patients.”

NeuroStar^® Advanced Therapy is a non-invasive, non-drug treatment option that uses transcranial magnetic stimulation (TMS) to target key areas of the brain that are underactive in people with depression. NeuroStar is the leading TMS treatment for depression in adult patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. NeuroStar has been proven to be safe and effective with over 4 million treatments delivered to 110,000 patients to date.

“The franchise model that Zion Healing is pioneering has the potential to allow countless more people to receive NeuroStar treatment, at a time when the mental health of so many is suffering,” said Keith J. Sullivan, President and CEO of Neuronetics. “Zion Healing’s unique approach to treating mental health issues, as well as their compassionate approach to patient care, are two of the reasons we wanted to enter into this partnership and are excited about its long-term potential.”

To learn more about NeuroStar^® Advanced Therapy, visit www.neurostar.com. To learn more about Zion Healing, Inc., visit www.zionhealing.com.    

About Neuronetics, Inc.
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience and the largest TMS company in the industry, Neuronetics is redefining patient and physician expectations by designing and developing products that improve the quality of life for people suffering from neurohealth conditions. An FDA-cleared, non-drug, noninvasive treatment for people with depression, Neuronetics’ NeuroStar^® Advanced Therapy system is today’s leading transcranial magnetic stimulation (TMS) treatment for major depressive disorder in adults with over four million treatments delivered. NeuroStar is widely researched and backed by the largest clinical data set of any TMS system for depression, including the world’s largest depression Outcomes Registry. Neuronetics is committed to transforming lives by offering an exceptional treatment option that produces extraordinary results. For safety information and indications for use, visit NeuroStar.com.

Media Contact:
Neuronetics, Inc.
EvolveMKD
646.517.4220
NeuroStar@evolvemkd.com

About Zion Healing, Inc.

Zion Healing, Inc. sells and grants Franchises to operate treatment centers for Mental Health Disorders for Youth and Adults to be located generally in regional cities in the United States. Each Franchise will do business and operate under the trademarks of Zion Healing and Zion Healing Centers. The Company has operated varying forms and functions of Residential Inpatient Treatment Centers, Outpatient Services, Counseling, and Mental Health Therapies in Utah for over 8 years under the separate companies of The Retreat at Zion and Zion Recovery. For more information, please visit, www.zionhealing.com.

Media Contact:
Zion Healing Inc. 
Rod Goodman 
208-818-0466 
rod@zionhealing.com

FAQ

What is the partnership between Neuronetics and Zion Healing about?

Neuronetics has entered into an exclusive agreement to supply TMS equipment to Zion Healing and its franchisees, which will enhance patient access to NeuroStar® Advanced Therapy.

What is NeuroStar® Advanced Therapy?

NeuroStar® Advanced Therapy is a non-invasive treatment using transcranial magnetic stimulation (TMS) for patients with depression who have not improved with traditional medications.

How many treatments has NeuroStar delivered?

NeuroStar has delivered over 4 million treatments to date, indicating its widespread use and efficacy.

What does the partnership mean for patients seeking mental health treatment?

The partnership is expected to significantly increase patient access to TMS therapy, addressing the growing demand for mental health services.