BrainsWay Ltd. announced that Cigna Corporation has announced positive coverage applicable to Deep Transcranial Magnetic Stimulation (TMS) for the treatment of obsessive-compulsive disorder (OCD). Cigna provides commercial health coverage to about 17 million members in 13 states, has Medicare Advantage plans in 16 states, and participates in the Health Insurance Marketplace© online exchange. With this new policy, Cigna joins the ranks of Centene, Highmark, Health Care Services Corporation, Blue Cross Blue Shield, Tricare, and Palmetto GBA Medicare, resulting in over 86 million adults now having access to BrainsWay's pioneering Deep TMS™ OCD treatment.

Cigna will be issuing an updated revision to its TMS medical coverage policy effective September 15, 2022 extending coverage to patients aged 18 and older diagnosed with OCD. Under the revised policy, an initial 30-36 TMS treatment session regimen will be classified as medically necessary after a failure of two or more medication trials and a trial of evidence-based psychotherapy without significant improvement in symptoms. Patients with 30% or greater improvement in their Yale-Brown Obsessive Compulsive Scale (Y-BOCS) maintained for at least two months would also be candidates for an additional regimen of 30-36 sessions. BrainsWay's patented H7 Coil is designed to penetrate deeper and broader structures of the brain associated with OCD.

The Company's Deep TMS system received De Novo clearance from the U.S. Food and Drug Administration (FDA) for the treatment of OCD in late 2018 and was launched for full market release in 2019. As of June 30, 2022, 368 OCD coils had been shipped as add-on helmets to accompany BrainsWay platform systems. Approximately 45% of all BrainsWay systems in the field have an H7 Coil.