Neuronetics Announces Elevation of Sara Grubbs to SVP, Chief Revenue Officer

Rhea-AI Summary

Neuronetics, Inc. (NASDAQ: STIM) announces the promotion of Sara Grubbs to Senior Vice President and Chief Revenue Officer. This move is aimed at aligning revenue-generating functions across the company. Since joining in 2020, Grubbs has notably transformed the sales organization and enhanced education initiatives, boosting sales productivity. Under her guidance, the NeuroStar Advanced Therapy footprint expanded with 250 new accounts and 440 NeuroStar systems added. The company has also entered significant partnerships, including an exclusive agreement with Greenbrook TMS, the largest TMS provider in the U.S. Grubbs aims to strengthen organizational frameworks to maximize revenue.

Positive

• Sara Grubbs' promotion signals a strategic focus on aligning revenue-generating functions.
• Under Grubbs' leadership, NeuroStar has added 250 new accounts and 440 systems.
• Significant partnerships, including an exclusive deal with Greenbrook TMS, extend market reach.

Negative

• None.

New Senior Leadership Role Will Streamline Alignment of All Company Revenue-Generating Functions

MALVERN, Pa., Feb. 16, 2023 (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, announced today that Sara Grubbs has been promoted to Senior Vice President, Chief Revenue Officer (CRO). Ms. Grubbs joined Neuronetics in 2020 and most recently held the title of Vice President, Sales. As CRO, she will continue to lead the Company’s sales functions and will expand her scope to include oversight of the other revenue-related areas of the business, including Sales Training and Customer Education.

“Since Sara joined Neuronetics, she has transformed the sales organization and accelerated the impact of our education initiatives, like NeuroStar University. Not only has this resulted in increased sales productivity in both treatment session usage and capital sales, but it has also made NeuroStar TMS available to more physicians and patients in need of innovative solutions for mental health,” said Keith J. Sullivan, Neuronetics President and CEO. “Sara’s promotion is part of our long-term strategy to take the company to the next level. I’m excited to see her drive integration and alignment across the full revenue cycle to ensure the greatest growth possible.”

Under Ms. Grubbs’ leadership, the NeuroStar Advanced Therapy footprint has grown with the addition of 250 new accounts and 440 NeuroStar systems, and existing customers have seen increased productivity. Additionally, during her tenure, Neuronetics has expanded and entered into strategic partnerships with leading national accounts, most recently an exclusive agreement with Greenbrook TMS, the nation’s largest TMS provider.

“Neuronetics is in a unique position to have a direct, positive impact in people’s lives, and I’m committed to building on our momentum in making NeuroStar a standard of care in mental health treatment,” said Sara Grubbs. “I look forward to forging new partnerships and enhancing success for our NeuroStar providers, while strengthening the framework of our internal organizational functions to maximize revenue.”

About Neuronetics
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations with its NeuroStar Advanced Therapy for Mental Health. NeuroStar is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. NeuroStar is FDA-cleared for adults with major depressive disorder (MDD), as an adjunct for adults with obsessive-compulsive disorder (OCD), and to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression). NeuroStar Advanced Therapy is the leading transcranial magnetic stimulation (TMS) treatment for MDD in adults with over 5 million treatments delivered. NeuroStar is 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 that produces extraordinary results. For safety and prescribing information, www.neurostar.com.

Media Contact:
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FAQ

What is the recent leadership change at Neuronetics, ticker STIM?

Sara Grubbs has been promoted to Senior Vice President and Chief Revenue Officer.

How has Neuronetics expanded its market presence recently?

The company added 250 new accounts and 440 NeuroStar systems under Sara Grubbs' leadership.

What strategic partnership has Neuronetics, ticker STIM, entered into recently?

Neuronetics has announced an exclusive agreement with Greenbrook TMS.

What is the role of the new Chief Revenue Officer at Neuronetics?

The Chief Revenue Officer will oversee all revenue-related areas, including sales and customer education.

How is Neuronetics impacting mental health treatment?

Neuronetics aims to make NeuroStar a standard of care for mental health treatments.