BrainsWay Expands Deep TMS Access in Israel Following Significant Increase in Reimbursement Rates

Company Announces 11th Recent System Installed in Israel, with More Expected this Year

BURLINGTON, Mass. and JERUSALEM, April 17, 2024 (GLOBE NEWSWIRE) --  BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced the further expansion of access to its Deep TMS treatment in Israel. BrainsWay has steadily increased its presence in the country with 11 recent system installations, and this momentum has been driven in part by a 45% increase in reimbursement rates. The Company expects to have additional Deep TMS systems installed in Israel by the end of 2024.

“BrainsWay continues to make significant strides in expanding its international footprint, and it is extremely meaningful for us to be able to offer our life altering Deep TMS therapy to mental health patients across Israel,” said Hadar Levy, Chief Executive Officer of BrainsWay. “Following recent events in the country, serious mental health conditions are on the rise, and it is profoundly important to us that Deep TMS be made available to as many patients as possible,” concluded Mr. Levy.

"This innovative technology represents a significant opportunity to treat numerous patients, including many who have not responded to medication,” said Reut Filipowicz, BrainsWay’s Head of Business Development for the Israeli market. “We are excited to bring Deep TMS to those suffering from mental health conditions who are truly in need of additional treatment solutions."

About BrainsWay
BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy. Current indications include major depressive disorder (including reduction of anxiety symptoms, commonly referred to as anxious depression), obsessive-compulsive disorder, and smoking addiction. The Company is dedicated to leading through superior science and building on its unparalleled body of clinical evidence. Additional clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders are underway. Founded in 2003, with offices in Burlington, MA and Jerusalem, Israel, BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. For the latest news and information about BrainsWay, please visit www.brainsway.com.