Neuronetics Appoints Vice President of Sales & Customer Service
Mark Saxton to Accelerate Growth of NeuroStar TMS Therapy
Malvern, PA, October 17, 2011 – Neuronetics, Inc., today announced that Mark Saxton, an industry executive with more than 18 years of experience in sales leadership, has been appointed as Vice President, Sales and Customer Service. In his new role, Mark will manage sales and customer relations as well as oversee the development and execution of related commercialization strategies for NeuroStar TMS (transcranial magnetic stimulation) Therapy(R), a non-invasive neuromodulation treatment for adults with major depressive disorder who have not benefitted from initial antidepressant medication.
“Mark brings an exceptional track record of delivering sales results and satisfying customers, and we are pleased to welcome him to our senior management team,” said Bruce Shook, President and Chief Executive Officer of Neuronetics. “We are confident that Mark’s skill with sales and practice development will accelerate revenue growth and build substantial value here at Neuronetics.”
Prior to joining Neuronetics, Mr. Saxton served as a Vice President of Sales for Covidien, a global healthcare products leader dedicated to creating innovative medical solutions. His experience at Covidien followed a lengthy career with VNUS Medical, which pioneered the market for minimally invasive treatment of varicose veins. The team at VNUS redefined the standard of care for this disorder and moved it from an invasive and traumatic surgical procedure to an office based treatment that was adopted by multiple medical specialties. As Vice President Sales, Saxton led VNUS to substantial sales growth, resulting in their acquisition by Covidien in 2009.
Prior to his 10 years with VNUS and Covidien, Saxton held sales positions of increasing responsibility with InnerDyne Medical, Inc., a medical device maker that specializes in instruments for minimally invasive surgery, and PMT Corporation, a leading manufacturer of products for neurosurgery, orthopedics and plastic and reconstructive surgery.
“Neuronetics has just begun to tap the market for NeuroStar TMS Therapy. The potential for growth is tremendous, and I welcome the opportunity to take the company to the next level of customer satisfaction,” said Saxton. “My experience helping physicians adopt new treatments that improve patient care is directly applicable to the current stage of the business at Neuronetics. I am delighted to promote a product that will positively impact the lives of so many people.”
About NeuroStar TMS Therapy
Neuronetics’ NeuroStar TMS Therapy system was cleared by the FDA in October 2008 for the treatment of Major Depressive Disorder. NeuroStar TMS Therapy® is indicated for the treatment of Major Depressive Disorder in adult patients who have failed to achieve satisfactory improvement from one prior antidepressant medication at or above the minimal effective dose and duration in the current episode. NeuroStar TMS Therapy is a non-systemic (does not circulate in the bloodstream throughout the body) and non-invasive (does not involve surgery) form of neuromodulation. It stimulates nerve cells in an area of the brain that has been linked to depression by delivering highly focused MRI-strength magnetic field pulses. The treatment is typically administered daily for 4-6 weeks.
In January 2011, two Category I Current Procedural Terminology (CPT) codes for TMS Therapy, the type of procedure performed using the NeuroStar TMS Therapy system, were released into private and government payer systems. The availability of CPT-I codes for a new treatment modality indicates the treatment is an accepted standard of care for a patient population. In addition, TMS Therapy was added to the American Psychiatric Association 3rd Edition Practice Guideline for the treatment of Patients with Major Depressive Disorder.
In clinical trials, patients treated with active NeuroStar TMS Therapy experienced an average reduction in their depression symptom score of 22.1% compared to a 9% reduction in patients receiving inactive treatment. In an open-label clinical trial, which is most like real world clinical practice, approximately 1 in 2 patients experienced significant improvement in symptoms, and 1 in 3 experienced complete symptom resolution1. There were no systemic side effects such as those experienced with some antidepressant medications. The most common adverse event related to treatment was scalp pain or discomfort at the treatment area during active treatment. There is a rare risk of seizure with TMS Therapy (0.1% of patients under general clinical use). NeuroStar TMS Therapy is contraindicated in patients with non-removable metallic objects in or around the head. It is not indicated or effective for all patients with depression and it is available only upon the prescription of a psychiatrist. For full safety and prescribing information, visit www.NeuroStar.com.
Availability of NeuroStar TMS Therapy
Treatment with NeuroStar TMS Therapy is available at more than 350 treatment centers in 46 states. For information on specific treatment locations that offer NeuroStar TMS Therapy, please visit www.NeuroStar.com or call Neuronetics Customer Service Center at (877) 600-7555.
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. Neuronetics was created as a spinout of The Innovation Factory, a medical device incubator in Duluth, GA. For more information, please visit www.neuronetics.com.
1. Demitrack MA, Thase ME, Psychopharmacology Bulletin 2009; 42(2):5-38.
NeuroStar®, NeuroStar TMS Therapy®, and TMS Therapy® are registered trademarks of Neuronetics, Inc.
CPT is a registered trademark of the American Medical Association.
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- Contact Information
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- Kalaheo Consulting, Inc.
- (1) (650) 728-0227
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