Neuronetics rises on supply deal with Greenbrook

Neuronetics

19/01/2023 19:08

** Shares of medtech firm Neuronetics Inc  STIM.O  rise
1.54% to $5.93  
    ** Signs supply agreement with Canada-based Greenbrook TMS
Inc  GBNH.O  
    ** Under the agreement, which will run until end of 2028,
STIM will be the exclusive supplier of transcranial magnetic
stimulation (TMS) equipment to GBNH 
    ** TMS is a noninvasive procedure that uses magnetic fields
to stimulate nerve cells in the brain to improve symptoms of 
major depressive disorder
    ** STIM's NeuroStar will eventually replace TMS devices at
Greenbrook's therapy centers 
    ** Including session gains, STIM has risen ~60% in the past
12 months
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))