MALVERN, PA — Neuronetics Inc. (Nasdaq: STIM) said it has appointed Dan Reuvers as president and chief executive officer, effective Monday, succeeding Keith Sullivan, who will step down the same day and retire March 31.
The company announced the leadership change following a board-led search process, adding that Reuvers will also join its board of directors.
Reuvers most recently served as CEO of Tactile Medical, where the company said he led revenue growth from $187 million to about $300 million.
Before that, he spent 12 years at Integra LifeSciences, including as executive vice president and president of its neurosurgery division.
“I am honored and excited to be joining the Neuronetics team,” Reuvers said, citing the company’s treatment platform and patient base.
Neuronetics said Sullivan led the company for more than five years, during which it expanded from a single-product company to a broader mental health platform.
The company said that period included the acquisition of Greenbrook TMS and the development of a national clinic network.
In connection with his appointment, Reuvers received an inducement equity award of 1.5 million restricted stock units, which will vest in equal installments over three years, subject to continued employment.
The award was granted under the company’s 2020 Inducement Incentive Plan and approved by the board in accordance with Nasdaq Listing Rule 5635(c)(4).
Neuronetics develops and markets neurohealth treatments, including its NeuroStar Advanced Therapy system, and operates Greenbrook treatment centers across the United States.
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