Neuronetics Acquires Greenbrook TMS Inc.
Transaction Overview
MALVERN, Pa. and TORONTO, Dec. 10, 2024 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ: STIM) (“Neuronetics”) and Greenbrook TMS Inc. (OTCMKTS: GBNHF) (“Greenbrook”, and together with Neuronetics, the “Combined Company”) today announced that they have successfully completed the previously announced transaction whereby Neuronetics acquired all of the issued and outstanding common shares of Greenbrook (the “Greenbrook Shares”) by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). Each Greenbrook Share outstanding immediately prior to the effective time of the Arrangement was exchanged for 0.01021 of a share of common stock of Neuronetics (the “Exchange Ratio”) upon closing of the Arrangement.
Implications of the Acquisition
This acquisition brings together two renowned companies in the field of transcranial magnetic stimulation (TMS), a non-invasive treatment for various neurological and psychological disorders. Neuronetics, known for its precision and innovation in TMS technology, will now have access to Greenbrook’s extensive network of TMS centers across North America.
The Combined Company aims to leverage their collective expertise to further advance the development of TMS therapies and expand patient access to these cutting-edge treatments. By joining forces, Neuronetics and Greenbrook are poised to lead the way in revolutionizing mental health care.
Impact on Individuals
For individuals seeking TMS treatment for conditions such as depression, anxiety, and OCD, the acquisition of Greenbrook by Neuronetics could mean improved access to care and potentially more advanced treatment options. Patients may benefit from the collaborative efforts of the two companies in pushing the boundaries of TMS technology.
Global Implications
On a larger scale, the merger of Neuronetics and Greenbrook has the potential to shape the future of mental health care worldwide. By combining resources and expertise, the Combined Company can spearhead research and development efforts that may have far-reaching implications for individuals across the globe.
Conclusion
In conclusion, the acquisition of Greenbrook by Neuronetics marks a significant milestone in the field of TMS therapy. With a shared commitment to innovation and patient care, the Combined Company is poised to make a lasting impact on the lives of individuals struggling with mental health disorders. The future looks promising for Neuronetics, Greenbrook, and the countless individuals who stand to benefit from their collaborative efforts.
