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Brainsway Announces Doubled Revenue in First Quarter

HACKENSACK, N.J., June 01, 2016 (GLOBE NEWSWIRE) -- Brainsway® USA Inc., a leader in the treatment of brain disorders, announced first quarter results on Monday that showed the company doubled its revenue for the quarter to $2.5 million and reduced its losses. The company also announced the resignation of president and CEO Guy Ezekiel, MD.

“We want to thank Guy for his leadership over the past year. He brought a wealth of expertise and accomplishments in the medical technology industry and was involved in designing our U.S business strategy,” said Joseph Perekupka, VP of North American Sales Operations. “We respect his decision and wish him all the best moving forward.”

“The U.S. organization will continue to operate as it has since its U.S. launch in 2014, and the leadership team remains in place focused on executing the growth strategy. Brainsway is positioned extremely well in North America. We are coming off our strongest quarter in the company’s history, and we will continue to grow significantly through 2016 and into 2017,” continued Perekupka.

About Brainsway
Brainsway Ltd. is a leader in non-invasive treatments for brain disorders utilizing Deep Transcranial Magnetic Stimulation (Deep TMS). Our unique patented technology was developed in collaboration with the National Institute of Health (NIH) and is FDA and CE cleared to treat patients with depression who are not currently responding to medication. The treatment has been enthusiastically supported by many academic communities and is widely covered by most insurance payers. For more information, please visit www.brainsway.com.

Media Contact: Sharon Golubchik sharon@antennagroup.com 201-465-8008

Source:Brainsway Ltd.