California Medicaid Adds TMS Access for 14.8 Million Adolescents and Adults

NeuroStar, the first and only TMS treatment cleared for adolescents, now covered by Medi-Cal

MALVERN, Pa., July 11, 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 California Medicaid (Medi-Cal) has added TMS (transcranial magnetic stimulation) coverage for adults and adolescents aged 15 and older with MDD (major depressive disorder). This is the first policy from Medi-Cal that includes TMS, and the access follows the Company’s recent clearance from the U.S. Food and Drug Administration (FDA) for NeuroStar TMS as a first-line add-on treatment for adolescents aged 15-21.

Medi-Cal is California’s Medicaid healthcare program. It offers no-cost and low-cost health coverage for children and adults with limited income and resources who meet eligibility requirements. Medi-Cal policies impact 14.8 million covered lives in California. The TMS policy update will go into effect on August 1, 2024.

“At a time when mental health services are more essential than ever, expanded access to NeuroStar TMS through Medi-Cal is a pivotal step in addressing the growing need for care among both adults and adolescents,” stated Keith J. Sullivan, President and CEO of Neuronetics, Inc. “NeuroStar’s Health Policy team is fully committed to collaborating with providers and payors on policy updates that enhance availability for those in need.”

Neuronetics recently announced TMS policy updates from BlueCross BlueShield (BCBS) of Michigan and Cambia Health, in addition to a previous announcement with a policy change from Humana to address TMS coverage for adolescents.

Neuronetics is the first and only TMS company with FDA clearance for the treatment of adolescents and the only 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 Adolescent Depression
Adolescent depression is a complex and challenging mental health condition that affects young individuals during the crucial period of adolescence. An estimated 4.3 million U.S. adolescents aged 15-21 are affected by MDDⁱ. Depression amongst adolescents can disrupt crucial aspects of development, such as academic performance, relationships with peers and family members, and overall emotional well-being.

NeuroStar Advanced Therapy is indicated as an adjunct for the treatment of MDD in adolescent patients aged 15-21.

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 6.4 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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ⁱWorld Health Organization, Depression Fact Sheet. https://www.who.int/news-room/fact-sheets/detail/depression.