Neuronetics Names Todd Cushman as Vice President, Business Development

Rhea-AI Summary

Neuronetics has appointed Todd Cushman as Vice President of Business Development, effective immediately. This strategic move aims to enhance the company's international strategy and commercial operations, particularly for its NeuroStar Advanced Therapy for treating Major Depressive Disorder. Cushman brings over 35 years of experience, having previously held leadership roles at Bioness, Medtronic, and Acumed. His expertise is expected to drive market innovation in mental health treatment.

Positive

• Appointing Todd Cushman as Vice President of Business Development strengthens Neuronetics' leadership.
• Cushman's extensive experience in medical technology may enhance the company's international strategy.
• Focus on expanding access to NeuroStar Advanced Therapy for patients with Major Depressive Disorder.

Negative

• None.

With this new appointment, the market leader in transcranial magnetic stimulation will continue expanding treatment access for patients with Major Depressive Disorder

MALVERN, Pa., June 01, 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 psychiatric disorders, announced today that Todd Cushman will join the company as Vice President, Business Development, effective immediately. Mr. Cushman will be responsible for international strategy and Company commercial operations, including contract manufacturing, field service and technical support. Anthony Pui, Vice President, International Commercial Development, will report to Mr. Cushman in his new role.

“Todd’s appointment is a key step in our company’s growth, and I’m proud to have him on board,” said Keith J. Sullivan, President and CEO of Neuronetics. “His industry knowledge and extensive leadership experience across product development and global operations make him an asset to the team in expanding access to NeuroStar^® Advanced Therapy for Mental Health and pursuing our mission to transform patient lives. There’s no telling what else we will accomplish with him at the helm of Neuronetics’ business development strategy.”

Mr. Cushman brings more than 35 years of industry experience to the Company. Before joining Neuronetics, he was a founding member of Bioness, Inc., a medical technology company specializing in neurological rehabilitation and implantable products for pain management and held several leadership roles throughout his tenure – including president and CEO from 2013 to 2021. Prior, he held leadership positions at Medtronic, Inc., Acumed Medical Equipment, Inc., and American Hospital Supply Corp. Inc. (now Baxter, Inc.). He graduated from Brown University with a Bachelor of Arts and earned his Master of Business Administration from the Marshall School of Business at the University of Southern California. Mr. Cushman currently serves on the Boards of Directors for Voiceitt and the Alfred Mann Institute for Biomedical Development at the Technion, Israel Institute of Technology.

“I’m excited to join Neuronetics at such a crucial moment in the fight against depression and mental health conditions,” said Cushman. “The Company has an impressive reputation as a leader in the depression treatment space, and I look forward to lending my experience to build upon its growth and help drive market innovation to meet patients’ needs.”

About Neuronetics
Neuronetics, Inc. is a commercial-stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. Its commercial product, NeuroStar Advanced Therapy for Mental Health, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the United States Food and Drug Administration, or FDA, for the treatment of major depressive disorder in adult patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. Visit neurostar.com for safety information and indications for use. NeuroStar is also available in other parts of the world, including Japan, where it is listed under Japan’s national health insurance. Additional information can be found at www.neuronetics.com.

Media Contact:
Chelsey Manko
Vault Communications
610-455-2778
cmanko@vaultcommunications.com

FAQ

Who is the new Vice President of Business Development at Neuronetics (STIM)?

Todd Cushman has been appointed as the new Vice President of Business Development.

What is the role of Todd Cushman at Neuronetics (STIM)?

Cushman will oversee international strategy and commercial operations for the company.

How does Todd Cushman's experience benefit Neuronetics (STIM)?

His 35 years of industry experience may enhance growth and market innovation in mental health treatments.

What therapy does Neuronetics (STIM) focus on?

Neuronetics focuses on the NeuroStar Advanced Therapy, a treatment for Major Depressive Disorder.

When was Todd Cushman appointed at Neuronetics (STIM)?

Todd Cushman was appointed as Vice President of Business Development effective immediately as of June 1, 2021.