Brainsway acquires minority-stake in Axis Integrated Mental Health

BrainsWay (BWAY) announced that it has entered into a strategic equity financing agreement with Axis Management Company, a management services organization servicing several mental health clinics in Colorado. Under the terms of the agreement, BrainsWay will invest $2.3 million initially, and an additional potential $1 million milestone-based investment, for a minority position in Axis in the form of a preferred, annually compounding security. The agreement also provides for a redemption mechanism relating to the shares. “Our minority-stake investment in Axis follows our previous investment in Stella, and is part of BrainsWay’s broader initiative to accelerate access to and awareness of innovative mental health treatments, including Deep TMS Therapy, while continuing to maintain our core focus on advancing our scientific and technological capabilities to ensure best-in-class support for all our customers. Within this strategy, our investments provide capital injections into high performing healthcare providers, which then allows these businesses to invest in growth drivers and launch new locations,” said Hadar Levy, Chief Executive Officer of BrainsWay.