Press release, Helsinki, 14 December 2022 at 10:45 AM (EET)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that it has received an order for two NBT® systems through Canadian Health Solutions (CHS), the Company’s distributor in Canada.
In 2021, Nexstim announced having extended its agreement with distributor CHS for an additional five years. Nexstim’s NBT® system is cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in Canada.
Dr. David Elias, CEO of the Canadian distributorship and head of Canadian Health Solutions Group, comments:
“An estimated 10 percent of Canadians use health services for mood and anxiety disorders annually. We are pleased to be the exclusive Canadian distributor for Nexstim’s Neuronavigational TMS NBT® system, a non-medication treatment that is based on a unique transcranial magnetic stimulation (TMS) technology.
We are excited to place an order for two additional Nexstim Neuronavigational TMS systems which will help supplement the three originally acquired in May of 2021. Canadian Health Solutions (CHS) is committed to providing Canadians access to world-leading treatment for depression. With the opening of two clinics in New Brunswick, soon to be followed by a third clinic in Nova Scotia, we are just beginning to build on this commitment. Based upon our deep understanding and research into mental health issues, we believe Nexstim’s Neuronavigational system has great potential and can significantly benefit a large number of Canadians by providing a safe, effective and personalized treatment option for Major Depressive Discorders (MDD). We are very pleased to strengthen our partnership with Nexstim and to bring Neuronavigational TMS to Canadians.”
Mikko Karvinen, CEO of Nexstim, says: “At Nexstim, we work hard to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders. The Canadian market continues to be an important part of our growing business in North America, and we are happy to announce these sales as we continue bringing our mission to life.”
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 4101
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim’s Diagnostics Business focuses on commercialization of the Navigated Brain Stimulation (NBS) system. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain.
Nexstim’s Therapy Business markets and sells the Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
For more information, please visit www.nexstim.com
About the Canadian Health Solutions Group of Companies:
Canadian Health Solutions Group of Companies (CHS) is a group of New Brunswick, Canada-based health solutions providers, delivering a broad spectrum of healthcare services with a focus on the third-party disability market.
CHS develops and delivers innovative disability management services specializing in complex, integrated multidisciplinary medical assessments concentrated in occupational medicine, musculoskeletal, mental health, and mild traumatic brain injury mTBI. In addition, through its various entities CHS operates diagnostic imaging and addiction treatment and recovery clinics. CHS is also the founder of the Canadian Imaging Research Center and the Canadian Concussion Institute.
Through a decade of research and development, CHS companies have commercialized proprietary technology-enabled medical diagnostic and assessment solutions that have dramatically improved patient outcomes and reduced overall health costs for its customers.
CHS’ assessment services are recognized nationally by the occupational medicine profession as a gold standard, with 96% of participating physicians surveyed in agreement with CHS’ multidisciplinary medical conclusions and recommendations. Learn more at www.canhs.ca.