Malvern, PA, [September 1, 2010] – Neuronetics, Inc., maker of the NeuroStar TMS (Transcranial Magnetic Stimulation) Therapy® system, has been selected by the World Economic Forum as a 2011 Technology Pioneer. Through a rigorous screening process, the World Economic Forum’s Technology Pioneers program identifies companies from around the world that develop and apply the most innovative and transformational technologies that have the promise of making a critical impact on the future of business and society. Many of the companies chosen are in a start-up phase or in their first rounds of financing. Companies selected as Technology Pioneers must demonstrate visionary leadership, show the potential for being a long-standing market leader, and have proven technology. . Neuronetics’ NeuroStar TMS Therapy system is the first and only non-systemic and non-invasive TMS device cleared by the U.S. Food and Drug Administration for the treatment of Major Depressive Disorder.*
“We are honored that the World Economic Forum Selection Committee has chosen Neuronetics as a Technology Pioneer. The NeuroStar TMS Therapy system is making a profound contribution to the well-being of depression patients and their families. Depression is a debilitating disease that creates an enormous personal burden, is responsible for the consumption of vast amounts of health care resources, and reduces workplace productivity. By treating depression with the NeuroStar® system, we are working to address these critical issues for patients, payers and employers,” said Neuronetics’ President and CEO, Bruce Shook.