neurocare group AG and STIMIT AG announce strategic cooperation

MUNICH - August 23, 2022 - (Newswire.com)

neurocare group AG ("neurocare" or the "Company"), a leading innovator in personalized mental health and performance empowering clinicians to deliver best practice, has entered into a strategic cooperation with Stimit AG ("Stimit"), a company developing solutions for non-invasive diaphragm stimulation.

Under the agreement, neurocare's subsidiary MAG&More, a leader in the field of repetitive transcranial magnetic stimulation (TMS), produces the stimulators and is sharing its know-how on stimulator unit controls with STIMIT. The cooperation is a key strategic milestone as it allows to scale the production of stimulation products used in the product portfolios of both companies and to generate a significant recurrent OEM revenue stream for neurocare.

"We are delighted to partner with STIMIT AG, a true innovator in respiratory medicine. In the long term, this cooperation is strengthening both companies' competitive advantage in their respective field by lowering the costs of stimulation products. Increasing the affordability of our superior TMS systems enables us to expand market penetration to provide the countless people suffering from mental illness such as depression, OCD and chronic pain with access to TMS-enhanced therapy," says Tom Mechtersheimer, founder and CEO of neurocare group AG.

"I am delighted about our strategic long-term relationship. We are driven to offer innovative stimulation solutions to people in need of artificial ventilation. With our own expertise in respiratory medicine, partnering with neurocare group AG is a natural fit. Their complementary know-how in the design, engineering and control of magnetic stimulator technology is a true accelerator for our development towards launching a diaphragm stimulation solution for patients on mechanical ventilation," says Harald Genger, COO of STIMIT AG.

About neurocare group AG:

neurocare is innovating mental health and performance. We offer the first digital therapy platform (DTP) empowering clinicians to deliver best practice. Our integrated and personalized therapy approach is based on a strong clinical science background with over 20 years of research and technology development. Our business is driven by two strong growth channels: building our own clinics and providing our unique DTP to third parties. We currently treat about 2,800 patients annually in our own clinics and serve many third-party practices with our personalized therapy approach, our technologies and related training / onboarding. www.neurocaregroup.com 

About STIMIT AG:

STIMIT is an innovative medical technology company founded in 2018 by Ronja Müller-Bruhn and Oliver Müller, specializing in respiratory muscle stimulation. The STIMIT team develops products for a novel approach to preserve the diaphragm in ventilated intensive care patients. www.stimit.com

Contact:

Pamela Keck

neurocare group AG

[email protected]




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