Neuronetics and Greenbrook TMS Announce Definitive Merger Agreement

MALVERN, Pa. and TORONTO, Aug. 12, 2024 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ: STIM) (“Neuronetics”) and Greenbrook TMS Inc. (OTCMKTS: GBNHF) (“Greenbrook”) today announced that they have entered into a definitive agreement (the “Definitive Agreement”) under which Neuronetics will acquire all of the outstanding common shares of Greenbrook in an all-stock transaction.

“This transaction brings together two of the leaders in mental health care in the U.S., enabling us to provide patients with mental illnesses with access to innovative care. By leveraging the significant scale and capabilities of the two companies, we can increase NeuroStar’s visibility, consistently deliver best practices, facilitate enhanced reimbursements at the regional and national levels, and provide additional services and training opportunities to all of our customers, which can enhance their operations,” said Keith Sullivan, President and Chief Executive Officer of Neuronetics. “In addition to the strategic benefits, we believe this acquisition will help create a more attractive financial profile for the combined company, including the increased size and growth trajectory of our top line, the ability to realize material cost synergies, the acceleration of our path to profitability, and a strengthened balance sheet. Together, we expect this transaction to create significant long-term value for shareholders.”