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Neuronetics and Greenbrook TMS Announce Definitive Agreement to Merge
Neuronetics (NASDAQ: STIM) and Greenbrook TMS (OTCMKTS: GBNHF) have announced a definitive agreement to merge in an all-stock transaction. The merger aims to create a vertically-integrated organization providing TMS therapy with significant scale. Key benefits include:
1. Increased brand awareness for NeuroStar TMS
2. More consistent delivery of best practices
3. Enhanced benefits for all NeuroStar customers
4. Increased revenue scale with expected mid-teens growth in FY 2025 and 2026
5. At least $15 million in annualized cost savings
6. Accelerated path to profitability, with Adjusted EBITDA and cash flow positivity expected in FY 2025
The combined company will operate as Neuronetics, Inc. and trade under STIM on NASDAQ. Neuronetics shareholders will own 57% and Greenbrook shareholders 43% of the combined company. The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals.
1. Increased brand awareness for NeuroStar TMS
2. More consistent delivery of best practices
3. Enhanced benefits for all NeuroStar customers
4. Increased revenue scale with expected mid-teens growth in FY 2025 and 2026
5. At least $15 million in annualized cost savings
6. Accelerated path to profitability, with Adjusted EBITDA and cash flow positivity expected in FY 2025
The combined company will operate as Neuronetics, Inc. and trade under STIM on NASDAQ. Neuronetics shareholders will own 57% and Greenbrook shareholders 43% of the combined company. The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals.
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