BrainsWay

What BrainsWay does

BrainsWay is a publicly traded (NASDAQ and TASE) medical technology company founded in 2003 and headquartered in Jerusalem, Israel, with a U.S. commercial base in Burlington/Canton, Massachusetts. The company designs, manufactures, and commercializes Deep Transcranial Magnetic Stimulation (Deep TMS) systems built on its proprietary H-Coil technology, which uses electromagnetic coils to stimulate deeper and broader brain regions than conventional figure-8 TMS coils. Its systems are FDA-cleared for major depressive disorder (2013), obsessive-compulsive disorder (2018, first TMS device cleared for OCD), smoking addiction (2020, first FDA-cleared TMS for a substance use disorder), anxious depression (2021), late-life depression (2022), adolescents with MDD (2025), and an Accelerated Deep TMS protocol for MDD (2026), with CE-mark coverage extending to additional indications including PTSD, Alzheimer's, autism, Parkinson's disease, and multiple sclerosis.

BrainsWay sells Deep TMS systems and associated consumables and services to a network of 800+ treatment providers worldwide, including academic medical centers such as UCLA, Johns Hopkins, Stanford, and McLean Hospital, as well as a long tail of psychiatric practices. In the United States the company operates a direct sales force, while internationally it reaches customers through six regional distributors spanning Canada, China, Germany/Switzerland, Italy, South Korea, and India. Revenue is generated through capital equipment sales to providers combined with recurring treatment-session and service economics at each installed site. The company's clinical evidence base — 60+ clinical trials and multiple peer-reviewed publications — underpins regulatory clearances, payer coverage, and provider adoption across indications.

Name

BrainsWay

Legal name

BrainsWay Ltd.

Website

https://brainsway.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

BrainsWay (NASDAQ/TASE) develops and commercializes Deep TMS systems using proprietary H-Coil technology, FDA-cleared for MDD, OCD, smoking addiction, and other psychiatric indications, sold to 800+ treatment providers globally through direct sales and regional distributors.

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

Implantable Neuromodulation & Neurostimulation (SCS/DBS/VNS/PNS) (HLAHAEAK)

Keywords

• Deep TMS systems
• Noninvasive neurostimulation devices
• Mental health treatment devices
• H-coil TMS technology
• Neuromodulation medical devices

Headquarters

HQ city

Burlington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Deep TMS Device Sales: BrainsWay sells Deep TMS systems to healthcare providers including hospitals, psychiatry practices, and specialized TMS treatment centers. The systems include the proprietary H-Coil technology helmet and control unit.
2. Service and Maintenance: Ongoing service and maintenance contracts for installed Deep TMS systems.
3. Treatment Session Revenue (Provider-Side): Healthcare providers bill Medicare, private insurers, and patients for Deep TMS treatment sessions. Insurance coverage established for MDD with growing coverage for OCD and smoking cessation.

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

BrainsWay develops, manufactures, and sells Deep Transcranial Magnetic Stimulation (Deep TMS) medical device systems using its proprietary H-Coil technology for the noninvasive treatment of mental health and addiction disorders. Healthcare providers purchase the Deep TMS systems and helmet-mounted coils, with ongoing service and maintenance contracts, and bill Medicare, private insurers, and patients for the treatment sessions.

Product overview

BrainsWay offers a Deep TMS (Deep Transcranial Magnetic Stimulation) platform technology as its core product, featuring patented H-Coil designs (H1, H4, H7 coils) fitted into helmets for patient treatment. The platform delivers FDA-cleared treatments for Major Depressive Disorder, Obsessive-Compulsive Disorder, and Smoking Addiction, with additional FDA clearances for Anxious Depression and Late-Life Depression. The company also provides an accelerated SWIFT Deep TMS protocol and a patient portal called MyBrainsWay. CE-marked indications include Bipolar Disorder, PTSD, Schizophrenia, Alzheimer's Disease, Autism, Chronic Pain, Multiple Sclerosis, Parkinson's Disease, and Post-Stroke Rehabilitation.

Differentiator

Problem solved

Functional benefit

Brands

• SWIFT Deep TMS: Accelerated Deep TMS protocol for non-invasive treatment of Major Depressive Disorder (MDD)
• Deep TMS
• H1 Coil
• H7 Coil
• H4 Coil

Products and services

• Deep TMS System
• Deep TMS for Major Depressive Disorder (MDD)
• Deep TMS for Obsessive-Compulsive Disorder (OCD)
• Deep TMS for Smoking Addiction
• Deep TMS for Anxious Depression
• Deep TMS for Late-Life Depression
• SWIFT Deep TMS Protocol
• MyBrainsWay Patient Portal
• Deep TMS Service and Maintenance Contracts

Quantifiable outcome

• 79.4% response rate, 60.3% remission rate in late-life depression patients after 30 sessions
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core.

• CHS LtdcoreChannel Partner/ Reseller/ DistributorCHS Ltd serves as BrainsWay's local distributor and representative for Deep TMS in Canada, managing sales and service support for the Canadian market
• Shenzhen Yingchi Technology Co., Ltd.coreChannel Partner/ Reseller/ DistributorShenzhen Yingchi Technology Co., Ltd. serves as local representative for Deep TMS in China, managing distribution and support for the Chinese market
• Axontronic Schweiz GmbHcoreChannel Partner/ Reseller/ DistributorAxontronic Schweiz GmbH serves as local Deep TMS representative in Germany and Switzerland, managing sales, distribution, and service for both markets
• ATID SRLcoreChannel Partner/ Reseller/ DistributorATID SRL serves as Italian distributor of Deep TMS, managing sales and support for the Italian market
• With HealthcarecoreChannel Partner/ Reseller/ DistributorWith Healthcare serves as local representative for Deep TMS in South Korea, managing distribution and support for the Korean market
• Bioaide Technologies Private LimitedcoreChannel Partner/ Reseller/ DistributorBioaide Technologies Private Limited serves as BrainsWay's local representative for Deep TMS in India, managing sales and service support for the Indian market

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Emerging players

• electroCore: US-listed (NASDAQ: ECOR) developer of non-invasive vagus nerve stimulation (nVNS) devices for headache and other indications. Comparable to BrainsWay as a non-invasive neurostimulation device company targeting CNS disorders via electrical/magnetic stimulation.
• Flow Neuroscience: Sweden-based company offering a home-use TMS headset specifically for depression treatment. Overlaps with BrainsWay on indication (MDD) and modality (TMS) but differentiates via a direct-to-consumer, home-based delivery model.
• Sooma Medical: Finland-based company developing transcranial direct current stimulation (tDCS) devices primarily for depression. Comparable to BrainsWay as a non-invasive brain stimulation device maker targeting psychiatric indications, though using a different stimulation modality.

Direct peers

• Magstim: UK-based manufacturer of TMS stimulation systems and coils widely used in clinical research and psychiatry practices. Competes with BrainsWay across both research and clinical-treatment channels, particularly in Europe and other international markets.
• Nexstim: Finnish publicly listed (Nasdaq Helsinki) maker of navigated TMS systems for depression and presurgical brain mapping. Competes with BrainsWay in the TMS device market with a differentiator of MRI-guided neuronavigation.
• Neuronetics: US-listed (NASDAQ: STIM) maker of the NeuroStar TMS system, the most widely installed first-generation figure-8 TMS platform in the US for MDD. Directly competes with BrainsWay Deep TMS for psychiatrist mindshare and provider capital budgets in the same treatment-resistant depression market.
• MagVenture: Danish manufacturer of TMS equipment offering figure-8 and other coil configurations for depression and research applications. Directly comparable to BrainsWay as a TMS device maker serving overlapping psychiatric clinics and research institutions worldwide.

Regional players

• Greenbrook TMS NeuroHealth Centers: Canadian/US TMS service-provider network operating treatment clinics across North America. While not a device peer, it is directly comparable as a customer-channel operator of TMS clinics and a key downstream user of BrainsWay and competitor TMS systems.

Broad incumbents

• Inspire Medical Systems: US-listed (NYSE: INSP) developer of implantable hypoglossal nerve stimulation for obstructive sleep apnea. Adjacent peer as a successful neuromodulation-focused medtech with a similar regulatory-clearance-driven commercial model, though operating in a different therapeutic area.
• Axonics Modulation Technologies: US-listed (NASDAQ: AXNX) developer of implantable sacral and tibial neuromodulation devices for incontinence. Comparable to BrainsWay as a neuromodulation-focused medtech, but addresses different indications with an implantable rather than non-invasive approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/brainsway

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 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 BrainsWay