Evernorth Health Expands Coverage of NeuroStar TMS for Adolescent Patients with Depression

Neuronetics has announced that Evernorth Health Services, a subsidiary of The Cigna Group, will cover NeuroStar TMS for adolescents aged 15 and older with major depressive disorder. This expansion improves access to non-drug treatment options for adolescent patients seeking alternative treatments for depression. The policies cover 15 million lives, making it a significant improvement in treatment options for this demographic.

Neuronetics, Inc. (NASDAQ: STIM), a leading medical technology company, has announced that Evernorth Health Services, a wholly owned subsidiary of The Cigna Group, will expand its coverage of NeuroStar Transcranial Magnetic Stimulation (TMS) to include adolescents aged 15 and older living with major depressive disorder (MDD). This expansion, effective immediately, follows the FDA clearance of NeuroStar Advanced Therapy as the first-line add-on treatment for adolescents aged 15-21 with MDD.

The coverage, which impacts 15 million lives, significantly improves access to non-drug treatment options for adolescent patients seeking alternatives to traditional medication for depression. The expansion comes nearly a year after NeuroStar Advanced Therapy received FDA clearance, and it follows updates by several leading insurers, including Humana, Aetna, Medi-Cal, BCBS-HCSC, and Pacific Source.

"Cigna/Evernorth's decision is a significant step forward for adolescent mental healthcare," said Keith J. Sullivan, President and CEO of Neuronetics. "We are grateful that millions more families will now have easier access to NeuroStar TMS as a proven, non-drug treatment for major depression."

Depression among adolescents can severely disrupt crucial aspects of development, including academic performance, peer relationships, and overall emotional well-being. With limited medication options for adolescents with MDD, NeuroStar offers a safe and effective treatment option. According to the World Health Organization, an estimated 4.3 million U.S. adolescents aged 15-21 are affected by major depression.

Geoffrey Grammer, MD, Chief Medical Officer of Neuronetics, highlighted the device's effectiveness, stating, "NeuroStar stands as the leading TMS device, backed by the most comprehensive data that clearly demonstrates its effectiveness in treating adolescent major depressive disorder."

Neuronetics' dedicated health policy team works to advocate for health policy updates, ensuring that patients have access to innovative solutions. The company operates Greenbrook TMS Inc. treatment centers across the United States, offering NeuroStar Advanced Therapy for the treatment of MDD and other mental health disorders. Additionally, Greenbrook centers provide SPRAVATO® (esketamine) Nasal Spray for treatment-resistant depression (TRD) in adults.

This expansion underscores Neuronetics' commitment to advancing mental healthcare and providing life-changing treatments for patients. As the company continues to expand its reach, it remains focused on delivering exceptional in-office treatments and advancing clinical research.

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