Neuronetics Appoints Christopher Thatcher as President and Chief Executive Officer
Thatcher brings more than 20 years of experience in medical device commercial leadership
Malvern, PA – WEBWIRE – Monday, December 01, 2014 Chris offers a diversified skillset with extensive experience in both traditional medical device and center-based health care services that will be invaluable to the future of Neuronetics Malvern, Pennsylvania, December 1, 2014 – Neuronetics, Inc., the pioneering leader in Transcranial Magnetic Stimulation therapy to treat Major Depressive Disorder announced today that Christopher Thatcher has joined the company as President and Chief Executive Officer. “Chris offers a diversified skillset with extensive experience in both traditional medical device and center-based health care services that will be invaluable to the future of Neuronetics,” stated Kevin Bitterman, Ph.D., Partner at Polaris Partners and Board Member at Neuronetics who led the search process. “As reimbursement coverage for NeuroStar TMS Therapy® expands rapidly across the US, Chris’ leadership and commercial skills are well served to expand Neuronetics’ revolutionary technology to health care providers and help reach the millions of patients whose lives can be transformed by NeuroStar TMS Therapy”
Mr. Thatcher has two decades of experience in general management and operational leadership in growing and transforming companies. Most recently Mr. Thatcher led the Reichert Technology Global Business Unit of Ametek, Inc. as its Divisional Vice President and Business Unit Manager. In this role, Mr. Thatcher was responsible for revitalizing its brand and expanding the business globally to achieve exponential revenue growth. Previously he was President of Integra Life Sciences, Neurosurgery Division and Corporate Initiatives; Vice President Cataract and Vitreoretinal Surgery at Bausch and Lomb, and held senior sales and marketing roles at the eye care giant Allergan.
“I am thrilled to join Neuronetics and look forward to working alongside a team of strategic and passionate people who have made NeuroStar TMS Therapy accessible to the millions of people around the world who are struggling with depression today and every day,” said Thatcher. “The quality of the clinical studies and clinical outcomes are so very compelling that we need to ensure that everyone who knows someone that is depressed, knows the clinical advantages of NeuroStar TMS Therapy over other treatment options. In addition to raising this awareness and growing the commercial expansion for NeuroStar TMS Therapy in Major Depressive Disorder, I am excited about the potential to expand its clinical indications more broadly in psychiatry and in other disease states. NeuroStar has the promise of treating other neurological based illnesses.”
NeuroStar TMS Therapy is the established leader in TMS Therapy with more than 620 NeuroStar systems installed throughout the US and 23,000 patients treated. In addition to the United States, NeuroStar TMS Therapy is also commercially available in Hong Kong, Malaysia, South Korea, Singapore, Kingdom of Saudi Arabia, and the United Arab Emirates.
About NeuroStar TMS Therapy®
The NeuroStar TMS Therapy System was FDA-cleared in 2008 on the basis of the largest randomized controlled trial evaluating TMS in depression. In an independent NIMH-sponsored randomized controlled trial, patients treated with TMS using a clinical trial version of the NeuroStar TMS System were four times more likely to achieve remission compared to patients receiving sham treatment (P=0.0173, odds ratio = 4.05). The most common side effect of NeuroStar TMS Therapy is pain or discomfort at or near the treatment site. It is contraindicated in patients with non-removable conductive metal in or near the head.
More than 140 million people in the US have access to insurance covering NeuroStar TMS therapy.
About Depression
Major depressive disorder is one of the most common mental disorders in the United States. It affects about 25 million Americans, and it’s estimated that about four million patients do not benefit from standard treatments for depression, even after repeated treatment attempts. People with depression may experience a range of physically and emotionally debilitating symptoms, including anxiousness, sadness, irritability, fatigue, changes in sleep patterns, loss of interest in previously enjoyable activities and digestive problems.
About Neuronetics, Inc.
Neuronetics, Inc., is a privately-held medical device company focused on developing non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. Based in Malvern, PA, Neuronetics is the leader in the development of TMS Therapy, a non-invasive form of neuromodulation. For more information, please visit www.neuronetics.com or www.neurostar.com.
NeuroStar®, NeuroStar TMS Therapy® and TMS Therapy® are registered trademarks of Neuronetics, Inc.
Media Contacts:
Sue McMonigle
Neuronetics, Inc.
Office: 610-981-4153
Cell: 215-527-4205
smcmonigle@neuronetics.com
Theresa Dolge
Tonic Life Communications
Office: 215-928-2748
Cell: 609- 915-2156
Theresa.Dolge@toniclc.com
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