Company Announcements

MALVERN, Pa., Sept. 25, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced that Health Care Service Corporation (HCSC) has expanded access to TMS (transcranial magnetic stimulation) for adolescents 15 and older with major depressive disorder (MDD). This policy parallels the recent clearance by the Food and Drug Administration for NeuroStar TMS Therapy as a first-line add-on treatment for this age group.

HCSC, a Mutual Legal Reserve Company, is an independent licensee of the BlueCross BlueShield (BCBS) Association and the largest customer-owned health insurer in the United States. The TMS policy, which already covered adults 18+ after two medication trials and psychotherapy, now also covers TMS for adolescents 15-17 as a first-line treatment, meaning that the patient does not need a medication failure prior to starting TMS. Aligned with the FDA clearance for adolescents, the policy specifies TMS use as an add-on, or augmentation with other therapy, such as antidepressant medications. The TMS policy update is effective 10/1/2024 and affects over 15 million covered lives through BCBS Illinois, BCBS Montana, BCBS New Mexico, BCBS Oklahoma, and BCBS Texas.

“This milestone policy by HCSC is a testament to the growing recognition that our young people need earlier access to proven mental health treatments like NeuroStar TMS,” stated Keith J. Sullivan, President and CEO of Neuronetics, Inc. “We commend HCSC for their leadership in patient access, as well as our NeuroStar providers and Health Policy team for their advocacy to create positive change for mental health.”

Neuronetics previously announced updated policies through payors such as Aetna and California Medicaid, highlighting the recent momentum from commercial and government payers to expand coverage for TMS Therapy. In addition to being the first and only TMS company with FDA clearance for adolescent treatment, Neuronetics is the only TMS company in the industry with a dedicated health policy team that partners with both providers and payors to advocate for health policy updates.

For more information about NeuroStar TMS Therapy, please visit www.neurostar.com.

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 indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from MDD and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. It is also FDA-cleared as an adjunct for adults with obsessive-compulsive disorder and for adolescent patients aged 15-21 with MDD. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with over 6.6 million treatments delivered. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, visit www.neurostar.com.

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