Sparton Corporation's Medical Subsidiary Recognized as Supplier Partner for Award-Winning NeuroStar® TMS Therapy System
STRONGSVILLE, Ohio--(BUSINESS WIRE)--Sparton Corporation’s (NYSE:SPA) wholly-owned subsidiary, Sparton Medical Systems, Inc., is the contract design and manufacturing partner to Neuronetics, for the Company’s NeuroStar® TMS Therapy System. NeuroStar® was just named a Medical Design Excellence Award winner and will be honored at a ceremony at the Medical Design & Manufacturing (MD&M) East Conference and Exposition, June 10, 2009, at New York City’s Jacob K. Javits Convention Center.
The award recipients will be announced at this ceremony while Sparton Medical Systems and other named suppliers will be in attendance along with Neuronetics. The Medical Design Excellence Award is organized and presented by Canon Communications LLC (Los Angeles) and is the only awards program that exclusively recognizes contributions and advances in the design of medical products.
A comprehensive review of entries was performed by an impartial panel of third-party jurors with expertise in biomedical engineering, human factors, industrial design, medicine and diagnostics.
This award winning product, The NeuroStar® TMS Therapy System, is the first and only TMS (Transcranial Magnetic Stimulation) device cleared by the FDA for the treatment of depression. TMS Therapy® is a non-systemic (does not circulate in the bloodstream throughout the body) and non-invasive (does not involve surgery) form of neuromodulation which stimulates nerve cells in an area of the brain that is linked to depression, by delivering highly focused MRI-strength magnetic pulses. Patients being treated by NeuroStar TMS Therapy do not require anesthesia or sedation and remain awake and alert. It is a 40-minute, outpatient procedure that is prescribed by a psychiatrist and performed in a psychiatrist's office. The treatment is typically administered daily for 4-6 weeks.
The engineering group from Sparton Medical Systems, Inc. provided project leadership, mechanical and electrical design, and coordination of outside development partners for the design of the electromechanical console. The console integrates software, precision mechanical components, and electronics into a system that drives Neuronetics’ core MRI-strength magnetic technology for therapeutic use.
“Sparton Medical has been a key development partner as Neuronetics has grown from a start-up to a full service medical device company,” observes Mark Riehl, VP Product Development and Operations at Neuronetics. “The contributions of the Sparton team have been essential to the successful design, implementation and manufacturing of our first product, the NeuroStar TMS Therapy® System.”
“We congratulate Neuronetics on winning this prestigious award,” said Cary Wood, president and CEO, Sparton Corp. “We’re proud to have been a partner in developing this important non-invasive medical device. The combination of Neuronetics’ dynamic core technology and Sparton’s engineering and manufacturing expertise is a great example of how teams can work together to produce exciting innovations that are beneficial in treating chronic illnesses.”
Neuronetics, Inc. is a privately-held medical device company focused on developing non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. Based in Malvern, Pa., Neuronetics is the leader in the development of TMS Therapy, a non-invasive form of neuromodulation. For more information, please visit www.neuronetics.com.
NeuroStar®, NeuroStar TMS Therapy®, and TMS Therapy® are registered trademarks of Neuronetics, Inc.
About Sparton Corporation
Sparton Corporation (NYSE:SPA) now in its 109th year, is a broad-based provider of electronics to technology-driven companies in diverse markets. The Company provides its customers with sophisticated electronic and electromechanical products through prime contracts and through contract design and manufacturing services. Currently headquartered in Jackson, Mich., Sparton has five manufacturing locations worldwide at this time. The Company's Web site may be accessed at http://www.sparton.com.
About Sparton Medical Systems, Inc.
Sparton Medical Systems, Inc., is a wholly owned subsidiary of Sparton Corporation and provides design and manufacturing services for finished diagnostic and therapeutic medical products.
Sparton Medical Systems, Inc. is an FDA registered and certified ISO 13485 contract design, development, and manufacturing company specializing in complex laboratory instrumentation and electromechanical point-of-care medical devices for OEMs and emerging medical technology companies. Beyond the product launch, the company adds value by managing service support, organizing reliability studies, and driving cost reductions for customers to gain a competitive advantage. The company is headquartered in Strongsville, Ohio, with additional dedicated medical resources and capacity in DeLeon Springs, Fla. For more information, please visit www.spartonmedicalsystems.com.
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton's services described in Sparton's filings with the SEC. In particular, see the risk factors described in the Company's most recent Form 10K and Form 10Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.
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Sparton Contacts (www.spartonmedicalsystems.com):
The Millerschin Group
Sparton Medical Systems, Inc.
Neuronetics Contacts (www.Neuronetics.com):