BrainsWay Broadens Partnership with Katie’s Way Plus Through Order of an Additional 18 Deep TMS Systems

Katie’s Way Provides Lifesaving Mental Health Treatment Nationally with a Focus on Servicemembers, Veterans, and their Families

BURLINGTON, Mass. and JERUSALEM, March 18, 2024 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, announced today that its significant existing partner, Katie's Way Plus, which provides comprehensive mental health services tailored to the unique needs of active duty military members, veterans, and their families, has ordered an additional 18 Deep Transcranial Magnetic Stimulation (Deep TMS) systems. Katie’s Way Plus will now grow to an extensive network of approximately 40 Deep TMS systems.

“We are delighted to continue supporting Katie's Way Plus in its pivotal mission of delivering specialized care to U.S. service members, veterans, and their families,” said Chris Boyer, BrainsWay’s Vice President of Marketing. “The efficacy demonstrated by BrainsWay's advanced Deep TMS technology in the treatment of depression is transformational. We are confident that the further expansion of this partnership will bring renewed hope and healing to countless families both in and out of uniform.”

“The broadening of this important partnership reflects our continued success in attracting large enterprise customers nationwide,” said Hadar Levy, Chief Executive Officer of BrainsWay. “The synergistic alliance between BrainsWay and Katie's Way Plus is poised to meaningfully impact the landscape of mental health care for military personnel, ensuring access to cutting-edge solutions tailored to their unique needs.”

“Katie's Way was established in memory of my daughter, Katie, whose tragic battle with depression serves as our driving force,” said Jeff Mathis, Founder of Katie’s Way. “Our aim is to prevent other families from enduring similar hardships. The acquisition of these additional BrainsWay systems is a testament to our rapidly expanding network and enables us to extend our reach, offer hope, and ultimately save more lives.”

Since September 11, 2001, the prevalence of mental health conditions has risen drastically within the veteran community. Diagnosed cases of major depressive disorder have increased 32% since that time, and doctor visits for the condition now account for nearly 10% of all military health network appointments. The most well-known and publicized statistic among the military community is the high rate of suicide. In one study conducted across 27 states, it was found that the suicide rate among veterans is 50% higher than non-veterans¹.