In response to the COVID-19 pandemic, Malvern-based Neuronetics is implementing a restructuring that includes the layoffs and furloughs of some of its employees, writes John George for the Philadelphia Business Journal.

The medical device company has not yet disclosed how many of its 235 employees will be affected by these actions.

The company develops and markets products for patients affected by psychiatric disorders, including its flagship NeuroStar Advanced Therapy System.

In the short term, Neuronetics expects to see its capital equipment sales and treatment session revenues affected by the current crisis, according to Steve Furlong, the company’s chief financial officer. The company has already seen some of its customers deferring capital purchase decisions and has experienced a drop in new patient treatment starts, as well as in system use.

“As a result, the company has taken steps to significantly reduce operating expenses and maintain the strength of our balance sheet,” said Furlong.

The saving measures also include reductions in discretionary expenses. As a result, the company’s operating expenses for the current year are now estimated to be between $58 and $60 million, down from the previously estimated $76 to $78 million.

Read more about Neuronetics in the Philadelphia Business Journal here.

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