Neuronetics, Inc.

What Neuronetics, Inc. does

Neuronetics, Inc. is a publicly traded medical technology company headquartered in Malvern, Pennsylvania, that designs, develops, and markets the NeuroStar Advanced Therapy System for transcranial magnetic stimulation (TMS) treatment. The NeuroStar system uses focused magnetic pulses to stimulate underactive neurons in brain regions controlling mood, offering a non-invasive, non-drug outpatient alternative for adults with major depressive disorder (MDD) who have not achieved satisfactory improvement from antidepressant medications. The platform is FDA-cleared for MDD, obsessive-compulsive disorder (OCD), anxious depression, and adolescent depression (ages 15-21), and has been the U.S. market leader in TMS therapy for over 12 years.

The technology platform comprises proprietary hardware including the patented Precision Pulse coil design (optimized to preferentially stimulate cortical neurons rather than sensory neurons) and the SenStar Treatment Link for dose verification, paired with proprietary software including MT Assist for motor threshold determination, TrakStar (a HIPAA-compliant cloud-based patient data management system spanning up to five connected systems), Contact Sensing for real-time 3D dose feedback, and the TouchStar Theta Burst protocol that reduces treatment sessions to approximately 3 minutes. The system also incorporates D-Tect, FastMT, and MT Cap innovations to reduce motor threshold setup time. Neuronetics operates the world's largest depression Outcomes Registry, with data on over 17,700 patients across 118 practice sites since 2016, supplemented by 65+ investigator-initiated clinical studies covering 1,900+ patients.

Neuronetics generates revenue primarily through direct sales of TMS systems to U.S. healthcare practices—over 1,100 active treatment locations—using an enterprise field sales motion complemented by inside-sales customer support and a 5 STARS Solution program that helps practices operationalize and grow TMS service lines. Practices then bill insurance for treatment sessions, with reimbursement available through Medicare, Tricare, and over 95 major U.S. commercial insurers covering approximately 300 million lives; the average 5 STARS practice generates over $300,000 in treatment revenue. International expansion is conducted through regional distributors in Japan (TEIJIN PHARMA), South Korea (DK Healthcare), the UAE (BDH Middle East), and Singapore/Hong Kong (Transmedic). The company employs approximately 215 people, including 100+ field experts across sales, training, reimbursement, and service functions.

Name

Neuronetics, Inc.

Legal name

Neuronetics, Inc.

Website

https://neurostar.com

Company type

Public

Operating status

Operating

Headcount range

101–250 employees

Short description

Neuronetics, Inc. is a publicly traded medical technology company that develops and markets the NeuroStar Advanced Therapy System, an FDA-cleared transcranial magnetic stimulation platform for treating major depressive disorder, OCD, anxious depression, and adolescent depression, sold to U.S. psychiatry and mental health practices.

Ownership category

akta.pro rank

Product category

Neuromodulation Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Behavioral Health & Neurocognitive Therapeutics (Digital) (HLACANAI)

Keywords

• Transcranial magnetic stimulation
• Depression treatment devices
• Neuromodulation systems
• Psychiatric medical devices
• Treatment-resistant depression

Headquarters

HQ city

Malvern

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Marketing or Sales, Personnel, Technology or R&D, Operations, Supply Chain

Revenue model

1. NeuroStar TMS Device/System Sales: NeuroStar sells TMS systems to healthcare practices. Practices then bill insurance (Medicare, Tricare, commercial insurers) for treatment sessions. The company provides practice support including training, marketing, and reimbursement assistance.
2. Treatment Services Reimbursement: Healthcare practices perform treatments and bill insurance. Over 300 million people have insurance plans covering NeuroStar. Medicare provides 100% coverage (61 million covered). Over 95 major U.S. private insurers provide coverage.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

Neuronetics designs, manufactures, and markets the NeuroStar Advanced Therapy System, an FDA-cleared transcranial magnetic stimulation (TMS) platform that uses focused magnetic pulses to stimulate underactive neurons in mood-regulating regions of the brain. The system is sold to healthcare practices (psychiatry practices and mental health clinics) for treatment of Major Depressive Disorder in adults and adolescents (ages 15-21), OCD, and anxious depression. The company supports practices through its 5 STARS Solution program, providing implementation, training, marketing, and reimbursement assistance.

Product overview

Neuronetics, Inc. offers the NeuroStar Advanced Therapy System as its primary product—a unified TMS (transcranial magnetic stimulation) platform for treating depression and related conditions. The system consists of proprietary hardware components (SenStar Treatment Link, Precision Pulse coil) and software modules (MT Assist for dose determination, TrakStar for patient data management, Contact Sensing for real-time monitoring). Newer features include TouchStar Theta Burst protocol for faster treatments (~3 minutes) and tools like FastMT, D-Tect, and MT Cap for efficient Motor Threshold determination. The platform supports multiple indications including MDD, OCD, and anxious depression, with different versions for U.S. and international markets.

Differentiator

Problem solved

Functional benefit

Brands

• SenStar Treatment Link: Treatment coil interface ensuring proper functioning and positioning during treatment sessions
• MT Assist
• Precision Pulse TMS
• Coil Positioning System
• TMS TrakStar
• TouchStar Theta Burst
• D-Tect
• FastMT
• MT Cap

Products and services

• NeuroStar Advanced Therapy System FDA-cleared transcranial magnetic stimulation (TMS) system for treating Major Depressive Disorder, OCD, and anxious depression in adults and adolescents ages 15-21, using focused magnetic pulses to stimulate underactive brain regions. Includes proprietary components (SenStar Treatment Link, Precision Pulse coil, Coil Positioning System), software (MT Assist, TMS TrakStar) and protocols (TouchStar Theta Burst, Contact Sensing, FastMT, D-Tect, MT Cap). Sold to healthcare practices including psychiatry practices and mental health clinics; available internationally through regional distributors.

Quantifiable outcome

• 83% response rate and 62% remission rate by clinician rating in acute treatment course
• +6 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Four partnerships are on record, tiered regional.

• TEIJIN PHARMA LIMITEDregionalChannel Partner/ Reseller/ DistributorJapan distributor for NeuroStar TMS Therapy. Located at Kasumigaseki Common Gate West Tower, 2-1, Kasumigaseki 3-chome, Chiyoda-ku, Tokyo 100-8585, Japan. Handles distribution and support for Japanese market.
• DK HealthcareregionalChannel Partner/ Reseller/ DistributorSouth Korea distributor for NeuroStar TMS Therapy. Located at 4 Fl DK+ Bldg, 18, Baumoe-ro 7 gil, Seocho-gu, Seoul, South Korea 06762. Phone: +82 (2) 529-0155. Handles distribution and support for Korean market.
• BDH Middle EastregionalChannel Partner/ Reseller/ DistributorMiddle East distributor (UAE) for NeuroStar TMS Therapy. Contact: Mr. Noveel Pandya, Umm Ramool, Rashidiya, Dubai, UAE. Phone: +971 (42) 85-2211. Handles distribution and support for Middle East market.
• Transmedic Pte LtdregionalChannel Partner/ Reseller/ DistributorSoutheast Asia distributor (Hong Kong and Singapore) for NeuroStar TMS Therapy. Contact: Mr Darren Por, 5 Jalan Kilang Barat, 9/F Petro Centre, Singapore 159349. Phone: +65 6737-1945. Handles distribution and support for Southeast Asian markets.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MagVenture: Danish manufacturer of TMS equipment (MagPro) used by psychiatrists and researchers for depression and clinical neuroscience. Competes head-to-head with NeuroStar in TMS system sales to psychiatric practices and clinical research centers.
• Magstim: U.K.-based manufacturer of transcranial magnetic stimulation systems used in clinical research and psychiatric treatment. Sells TMS equipment to neuroscience and psychiatry practices globally, overlapping directly with NeuroStar's installed-base customers.
• Brainsway: Israel-based medical device company that develops and markets Deep TMS systems for major depressive disorder and OCD. Directly competes with NeuroStar in the U.S. TMS equipment market, targeting the same psychiatrist customer base with a similar FDA-cleared indication profile.

Broad incumbents

• Axsome Therapeutics: Commercial CNS biopharmaceutical company with FDA-approved therapies for major depressive disorder (e.g., Auvelity). Competes with NeuroStar for treatment-resistant depression patients and psychiatrist prescribing, but via a pharmaceutical rather than device mechanism.
• Janssen Pharmaceuticals (Johnson & Johnson) — Spravato: Markets esketamine (Spravato) nasal spray for treatment-resistant depression. Targets the same psychiatrist channel and patient population as NeuroStar, representing a major non-device alternative for the TRD segment.
• Sage Therapeutics: CNS biopharmaceutical company developing therapies for depression and other neuropsychiatric conditions. Competes for the same treatment-resistant MDD patient pool as NeuroStar, though through a pharma rather than neuromodulation approach.

Emerging players

• Compass Pathways: Clinical-stage mental health care company developing psychedelic therapies for treatment-resistant depression. Represents a future alternative treatment paradigm that could compete with TMS for the same TRD patients and specialist prescribing capacity.
• Neurosoft Bioelectronics: Developer of transcranial magnetic stimulation technologies for psychiatric and neurological disorders. Competes at the equipment layer with NeuroStar but is earlier-stage and smaller in installed base.
• Fisher Wallace: Markets consumer-grade cranial electrical stimulation devices marketed for depression, insomnia, and anxiety. Overlaps with NeuroStar in 'non-drug depression treatment' demand but addresses a much earlier-stage, patient-direct channel.

Others

• Somatics LLC: Manufacturer of ECT (electroconvulsive therapy) devices used in severe, treatment-resistant depression. Targets a smaller subset of the same psychiatrist channel as NeuroStar and is sometimes referenced as a fallback for patients who do not respond to TMS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/NeuroStarTMSTherapy
• Facebookfacebook.com/NeuroStarAdvancedTMS
• LinkedInlinkedin.com/company/neuronetics-inc-
• Instagraminstagram.com/NeuroStarAdvancedTMS
• TikToktiktok.com/@neurostar_tms

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neuronetics, Inc.