Evernorth Health Services Enhances TMS Access for Young Minds

Expanding Access to NeuroStar TMS for Adolescents

MALVERN, Pa. — Neuronetics, Inc. (NASDAQ: STIM) has announced a significant development for adolescent mental health care. Evernorth Health Services, a subsidiary of The Cigna Group, has broadened its coverage of NeuroStar Transcranial Magnetic Stimulation (TMS) to encompass those aged 15 and older diagnosed with major depressive disorder (MDD). This expansion means that approximately 15 million lives are now covered, allowing more adolescents to access effective non-drug treatment options for their mental health struggles.

This move is timely as it follows nearly one year after NeuroStar Advanced Therapy received FDA clearance for adolescents aged 15-21. This FDA endorsement was a pivotal moment in mental health treatment, prompting various leading insurers, including Aetna and Humana, to revamp their policies to improve access to this groundbreaking therapy.

A Milestone for Adolescent Mental Health

Keith J. Sullivan, President and CEO of Neuronetics, expressed optimism about this decision, noting, "This decision by Cigna/Evernorth is a significant step forward for adolescent mental healthcare. We're grateful that millions more families will now have easier access to NeuroStar TMS as a proven, non-drug treatment for major depression. The need for such options has never been greater." This sentiment reflects the emerging consensus that effective mental health treatment is crucial for the healthy development of adolescents.

With approximately 4.3 million adolescents in the U.S. suffering from major depression, the stakes are high. Depression can interfere significantly with learning, relationships, and overall emotional health. NeuroStar offers a non-invasive alternative that has demonstrated robust clinical outcomes, providing hope to families seeking care.

The Leading Choice for TMS Therapy

According to Geoffrey Grammer, MD, Chief Medical Officer of Neuronetics, "NeuroStar stands as the leading TMS device. The extensive data supporting its efficacy in treating adolescent major depressive disorder is undeniable. At Neuronetics, we stand committed to advancing clinical research and ensuring access to groundbreaking treatments for those in need."

Furthermore, Neuronetics distinguishes itself by maintaining a dedicated health policy team focused on fostering partnerships with both healthcare providers and payors to advocate for necessary updates to health policies related to TMS therapy. This proactive approach highlights their commitment to optimizing patient care and enhancing treatment accessibility.

About Neuronetics and NeuroStar Advanced Therapy

Neuronetics, Inc. is recognized as a global leader in the field of neuroscience. They firmly believe that mental health should receive equal attention as physical health. Their flagship product, NeuroStar Advanced Therapy, is a revolutionary, non-drug, non-invasive treatment designed to enhance the lives of individuals experiencing neurohealth issues, especially when traditional approaches have fallen short.

In addition to providing the NeuroStar Advanced Therapy System, Neuronetics manages Greenbrook TMS Inc., a network of treatment centers across the country. These centers specialize in offering NeuroStar Advanced Therapy for those battling MDD and other mental health disorders. With over 7.1 million treatments administered, NeuroStar has cultivated the largest clinical dataset of any TMS treatment for depression.

The NeuroStar system is FDA-cleared for various indications, including treatment for depression in adults, anxiety in adults with depressive symptoms, and now as a first-line adjunct therapy for adolescents aged 15-21 suffering from MDD. The safety information and uses for the system are detailed on NeuroStar.com.

Contact Neuronetics for More Information

For inquiries regarding investment or general media information, Neuronetics provides contacts that are eager to assist. Investors can reach Mike Vallie or Mark Klausner at ICR Healthcare by calling 443-213-0499, or via email at ir@neuronetics.com. For media inquiries, EvolveMKD can be contacted at 646.517.4220 or through their email NeuroStar@evolvemkd.com.

Frequently Asked Questions

What recent changes has Evernorth Health Services made?

Evernorth Health Services has expanded coverage for NeuroStar TMS therapy to include adolescents aged 15 and older with major depressive disorder.

Why is TMS therapy important for adolescents?

TMS therapy provides a non-invasive, drug-free option for adolescents struggling with depression, allowing easier access to effective treatment.

How many lives are affected by this coverage expansion?

The expanded coverage affects approximately 15 million lives, greatly enhancing access to essential mental health services.

What is the significance of FDA clearance for NeuroStar?

The FDA clearance for NeuroStar Advanced Therapy marks a turning point, validating its use as a first-line treatment option for adolescents with major depressive disorder.

How can I learn more about NeuroStar Advanced Therapy?

For more detailed information about NeuroStar Advanced Therapy, visit NeuroStar.com.

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